House Committee Begins Hearings on Bill to Modernize the Ohio Police and Fire Pension Fund

COLUMBUS—State Representatives Cindy Abrams (R-Harrison) and Thomas Hall (R-Madison Twp.) today provided sponsor testimony before the House Public Insurance and Pensions Committee on legislation to modernize the Ohio Police and Fire Pension Fund (OP&F).

Employers currently contribute 19.5% for police and 24.0% for fire to OP&F, rates that have not been adjusted since 1986. House Bill 280 will increase employer contributions for police to 24.0% within five years of the bill being enacted, bringing the contribution into alignment with fire and closer into alignment with the Ohio State Highway Patrol. After employer contributions are equalized, the bill will allow the OP&F board to adjust the contribution rates based on the actuarial funding if the amortization period exceeds 30 years.

“This bill is not a new concept this General Assembly, and if we, the Legislature, fail to take action, the fund will become unstable, jeopardizing the pensions of our first responders,” said Abrams. “We must protect the pensions of our first responders—those who protect us every day. Without our first responders, nothing else matters.”

“This is proactive, good government legislation that will ensure we fulfill our promise to tens of thousands of police and firefighters across Ohio that risk their lives every day to protect our communities,” said Hall. 

House Bill 280 comes as a result of a number of factors that have drastically impacted the stability of OP&F. 

The legislation awaits further consideration from the House Public Insurance and Pensions Committee.