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Web site full of facts on state pension issue

May 20, 2011
The Marietta Times

I am responding to your recent editorial titled "Ohio can't ignore pension funds' shortages." The author writes that funding issues for Ohio's public pension plans are "just now coming to the public's attention." The author also states that some systems "have been unable to devise plans for long-term solvency." Unfortunately, the author is wrong on both accounts. In fall 2009, the five statewide public pension systems shared their plans for either maintaining or returning their respective pension funds to a 30-year funding period. This was done after much public discussion by the systems with their members, constituency groups and legislators - and coverage by the statewide media. Since then, several of the plans have been modified, including the plan for the State Teachers Retirement System of Ohio (STRS Ohio), but all accomplish the goal of helping to ensure these funds can continue to serve many future generations of public employees.



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