Report: Ohio Police-Fire Pension Fund Still Shaky
A pension analysis finds that the Ohio Police & Fire Pension Fund is still on uncertain fiscal ground long-term.
A consultant's report says members could face contributing more of their paychecks and changing benefits. The report by Pension Trustee Advisors goes before an Ohio Retirement Study Council meeting Thursday.
The fund serves about 57,000 current and retired police, firefighters and beneficiaries and other former government workers. It is required by state law to have enough funding to meet 30-year obligations.
The report says the fund will need to earn double-digit percent returns annually to stay on its 30-year target.
A fund spokesman says recent pension reforms need time to work. State legislation passed last year called for all five public pension funds to make changes to shore up finances.