Ohio may cut benefits for future state employees as part of public pension fix

[TexasTowelie]

COLUMBUS, Ohio — Ohio’s largest public-pension system might cut benefits for future employees, under a plan that’s under consideration.

The board for the Ohio Public Employees Retirement System is weighing raising the retirement age and cutting benefits for all employees hired in 2022 or later.

In a different proposal to save money on health-care costs, the OPERS board is considering shifting future retirees who haven’t yet qualified for Medicare into the Obamacare marketplaces, while giving them money to cover the premiums. The OPERS board this week also voted to freeze pensioners’ automatic cost-of-living increases for 2022 and 2023.

All the changes are meant to strengthen the pension system, which is short $24 billion of what it needs to fund its total obligations. The cost-of-living freeze, for example, would save OPERS an estimated $3.4 billion, officials said.

Read more: https://www.cleveland.com/open/2019/09/ohio-may-cut-benefits-for-future-state-employees-as-part-of-public-pension-fix.html

[3Hotdogs]

1. Why not instead, raise corporate tax and increase tax rates for high income earners?

Ain't nobody never thought of that?


Oh shit, I forgot, that's communism.

[murielm99]

2. The Illinois Fair Tax is trying to do that.

https://en.wikipedia.org/wiki/Illinois_Fair_Tax

Don't believe the crap from the Illinois Policy Institute. That mess is run by Rauner, the recently defeated former governor, and the Kochs.