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Old 10-22-2017, 09:50 AM
 
11,610 posts, read 10,450,165 times
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I've always wondered how public retirement plans can cut benefits for workers already retired.

A 2.25 percent cap on the inflation adjustment could be deadly if we experience high inflation rates once again.

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The plan approved by the board would reduce cost-of-living adjustments to match the Consumer Price Index, subject to a 2.25 percent cap.


The benefit amount is now fixed at 3 percent for those who retired before January 2013.>>


Ohio pension fund board votes to cut retirees&#x2019; benefits
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Old 10-22-2017, 06:44 PM
 
11,610 posts, read 10,450,165 times
Reputation: 7217
Default Has Kasich administration siphoned assets from state pension funds?

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Last year the Ohio Public Employee Retirement System, OPERS, earned less than $10 million on investments and paid more than $400 million in fees. There has been a radical shift in Ohio’s retirement investment portfolio and an explosive increase in fees paid to Wall Street since Kasich became governor in 2011. If there are financial problems tied to these investments there will be political problems for Ohio Republicans, especially Kasich.>>


Agencies warn of massive Ohio public pension shortfall
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