Budget & Taxes (Pensions)

To amend sections 145.22, 145.23, 145.35, 145.46, 145.561, and 742.63 and to enact sections 145.71, 145.72, 145.721, 145.722, 145.73, 145.74, 145.75, 145.751, 145.76, and 145.77 of the Revised Code to establish a deferred retirement option plan for law enforcement officers in the Public Employees Retirement System.

To amend sections 145.47, 742.31, 3307.27, 3309.47, 4117.08, and 5505.15 of the Revised Code to prohibit a public employer from paying employee contributions to a state retirement system.

SB 69 is a procedural resolution declaring the General Assembly's intent to reform the state's public retirement systems. It identifies five specific systems affected - Public Employees Retirement System, School Employees Retirement System, State Teachers Retirement System, Ohio Police & Fire Pension Fund, and State Highway Patrol Retirement System - as needing legislative changes. The bill itself does not enact any policy changes but formally sets the stage for future legislation to address system sustainability. It does not directly alter current benefits or obligations for retirees or current employees.