State Representatives Cindy Abrams and Thomas Hall have presented their case to the House Public Insurance and Pensions Committee in support of legislation aimed at modernizing the Ohio Police and Fire Pension Fund (OP&F).
The current employer contribution rates, which have been unchanged since 1986, are set at 19.5% for police and 24.0% for fire personnel. House Bill 280 proposes an increase in the police contribution rate to 24.0% over a five-year period following the bill’s enactment. This adjustment aims to align police contributions with those of fire personnel and move closer to the rates paid by the Ohio State Highway Patrol.
Once these contributions are equalized, the bill allows for adjustments based on actuarial funding if the amortization period surpasses 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.”
Hall emphasized that this legislation represents “proactive, good government” by ensuring promises made to police officers and firefighters are upheld as they continue risking their lives daily for community safety.
House Bill 280 addresses various factors affecting OP&F’s stability and awaits further evaluation by the committee.
