Change underway to keep OPERS strong

May 18, 2009 - The Chief Executive Officer of the Ohio Public Employees Retirement System recently wrote a letter to members of the Ohio General Assembly assuring legislators that OPERS is solvent and that its investment portfolio is well positioned to weather the current economic storm, despite recent press articles questioning the efficacy of public pensions.

While not specifically naming OPERS, a recent Columbus Dispatch editorial claimed Ohio’s public pension systems were headed for trouble, unless certain changes were made.

In OPERS case, through careful and measured planning by the Board of Trustees and OPERS staff, the sort of changes suggested by the Dispatch have already begun including changes to the OPERS retiree health care plan.

In addition, legislation will soon be reintroduced to increase the cost of purchasing service credit to reflect its true cost.

Read the entire letter here. (PDF)

OCSEA President Eddie L. Parks is the representative for state employees on the OPERS board.

See Related

Editorial: Headed for trouble - State's public pension plans must change contributions, retirement age to survive (The Columbus Dispatch, May 7, 2009)

Ohio PERS Website

Pres. Parks helps push for delay of OPERS spousal premium change ( Jan. 29, 2009)

Ohio PERS healthy despite downturn (Oct. 28, 2008)