Highlights

‘Don’t Lump us in’ — Ohio Police Reject GOP’s Pension System Overhaul Due to Teachers’ Controversy

Source: https://www.news5cleveland.com/

Ohio police officers, including Mike Weinman, are advocating against legislative measures that could impact their retirement benefits amidst controversy surrounding the teachers’ retirement pension fund. Weinman, a former Columbus police officer paralyzed in the line of duty, now serves as the director of government affairs for the Fraternal Order of Police of Ohio (FOP). He emphasizes the crucial role of the Ohio Police and Fire Pension Fund (OP&F) in supporting retired officers like himself, highlighting its importance in providing financial security after career-ending injuries.

Key Highlight:

  • Mike Weinman emphasizes the significance of pensions over 401k plans for police officers, highlighting the stability it offers in retirement. He expresses concerns about a proposal discussed at the state’s Retirement Study Council meeting to merge all five public pension systems, including the Ohio Police and Fire Pension Fund (OP&F). He fears the proposed merger could harm pensions managed by systems like the Ohio Police and Fire Pension Fund (OP&F), prompted by issues in the State Teachers Retirement System (STRS) involving alleged corruption and mismanagement.
  • State Rep. Phil Plummer proposes consolidating Ohio’s five public pension systems into one to address issues within the State Teachers Retirement System (STRS), citing efficiencies in reducing costs and streamlining operations across multiple entities. He highlights concerns over excessive expenses and administrative redundancies among the current systems. Plummer has garnered support from fellow GOP lawmakers for this initiative.
  • In contrast, Mike Weinman, representing Ohio Police and Fire Pension Fund (OP&F) retirees, opposes the consolidation. He argues against penalizing all pension systems for the problems specific to STRS, fearing OP&F’s diminished influence and voice within a unified pension structure.
  • The pension systems in Ohio vary greatly in size: OPERS is the largest with 1.2 million members, followed by STRS with 500,000, SERS with 240,000, OP&F with 60,000, and HPRS with 3,000 members. Mike Weinman, representing OP&F retirees, emphasizes the distinct roles and needs of police and firefighters compared to other professions within larger systems like OPERS. He expresses concerns about diminished representation and influence for police and firefighters in a consolidated pension fund, highlighting challenges similar to those faced by OPERS members in having their voices heard. Weinman and other retirees across Ohio’s pension systems oppose the consolidation plan, citing logistical and legal uncertainties.
  • State Rep. Phil Plummer acknowledges uncertainties surrounding the proposed consolidation of pension funds in Ohio, questioning how distributions would be handled: whether they would be equal for all retirees regardless of their current benefits, potentially impacting current incomes. Plummer and Rep. Tom Young are drafting legislation and seeking input from retirees to address these concerns with logic and common sense. Plummer asserts confidence in resolving any challenges posed by the plan, emphasizing the need for intelligent collaboration. He aims to address disparities such as the exclusion of the highway patrol from police and fire pension funds and intends to tighten regulations on disability retirements, particularly among law enforcement personnel.
  • State Rep. Phil Plummer raises concerns about the inefficiencies of managing five separate pension systems in Ohio, highlighting the significant costs associated with multiple buildings, investment groups, and a large workforce. Although he and other GOP lawmakers are exploring consolidation, details on how this would be implemented remain unclear.
  • Weinman emphasizes the unique demands and contributions of police and firefighters, contrasting them with clerical roles. He points out that the FOP represents not just police officers but also sheriffs and deputies, whose retirement benefits fall under OPERS rather than OP&F, posing administrative challenges.

 

 

Read More: https://ohio.childreninfobank.com/safebank/dont-lump-us-in-ohio-police-reject-gops-pension-system-overhaul-due-to-teachers-controversy/

 

Image Source: https://www.news5cleveland.com/

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