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THE GOVERNOR PUTS PEN TO
PAPER MAKING OHIO'S PENSION
PLAN CHANGES OFFICIAL. DAN
EDWARDS JOINS US LIVE WITH
WHAT THESE CHANGES MEAN TO ITS
MEMBERS AND THEIR FAMILIES.
YEARS, CHANGES TO THE MUCH
DEBATED PENSION PLANS HERE IN
OHIO HAVE NOW BEEN SIGNED INTO
LAW.. HOPEFULLY SECURING THE
FUTURE OF THOUSANDS OF PUBLIC
EMPLOYEES IN THE STATE.
ACCORDING TO AP REPORTS THIS
MORNING, GOVERNOR JOHN KASICH
HAS SIGNED A PACKAGE OF BILLS
SHORING UP OHIO'S FIVE PUBLIC
PENSION FUNDS...THE BIGGEST
FUND COMING FROM THE OHIO
PUBLIC EMPLOYEES RETIREMENT
SYSTEM WHICH WITH 72.3 BILLION
DOLLARS IN ASSETS IS THE 11TH
LARGEST PUBLIC RETIREMENT
SYSTEM IN THE NATION.
GOVERNOR KASICH SAID THE
LEGISLATION REPRESENTS SERIOUS
PROGRESS IN TERMS OF
STABILIZING THE FUNDS.
THE BILLS MAKE CHANGES TO
FUNDS COVERING SOME 1.8
MILLION RETIREES, FUTURE
RETIREES AND THEIR FAMILIES.
THEY INCLUDE INCREASES TO
SOME PREMIUMS, REDUCED
PAYOUTS, AND TIGHTER
RETIREMENT ELIGIBILITY
REQUIREMENTS FOR FUNDS
COVERING TEACHERS, POLICE,
TROOPERS, AND OTHER PUBLIC
WORKERS. THEY CLEARED THE
GOP-CONTROLLED LEGISLATURE TWO
WEEKS AGO WITH BIPARTISAN
SUPPORT. GOVERNOR KASICH
SAYS THIS KEEPS THE PENSIONS
SOLID AND SOLVENT AND IN A
BETTER POSITION TO REACT TO
DEEP SWINGS IN THE ECONOMY.
THE MEASURES WILL TAKE EFFECT
JANUARY 7TH, REPORTING
LIVE, DAN EDWARDS, 2 NEWS