The bill introduced by Senator Romanchuk in the 136th General Assembly expresses the intent to reform the laws governing Ohio's public retirement systems, which include the Public Employees Retirement System, School Employees Retirement System, State Teachers Retirement System, Ohio Police & Fire Pension Fund, and State Highway Patrol Retirement System. The proposed legislation aims to implement necessary changes to ensure the health and sustainability of these retirement systems.
While the bill does not specify the exact changes to be made, it emphasizes the importance of reforming the existing legal framework to address current challenges faced by the state's public retirement systems. The General Assembly's declaration of intent signals a commitment to enhancing the long-term viability of these systems for the benefit of public employees and retirees in Ohio.