Saturday, April 16, 2011

Ohio Budget Criticized by Pension Fund Directors

"The head of Ohio's largest public retirement fund wants a proposed shift in pension payments from government employers to employees removed from Gov. John Kasich's proposed budget.

In testimony yesterday to a House committee considering Kasich's spending plan, Karen Carraher said Kasich's plan would require public-sector employees in Ohio to pay more for their pensions than do private-sector workers.

Carraher, interim executive director of the Ohio Public Employees Retirement System, said the proposal also would undercut moves that OPERS has already made to meet the requirement in state law of having enough resources to pay off pension obligations in 30years."

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