Last week, the Ohio Conference signed onto a letter opposing the Ohio Public Employees Retirement System’s (OPERS) plan to create a new tier of pension benefits for future hires known as “Group D.”
The letter also was signed by the Ohio Federation of Teachers (OFT), Ohio Education Association (OEA), Fraternal Order of Police (FOP), and the American Federation of State, County, and Municipal Employees (AFSCME).
The difference between the proposed Group D benefits and current Group C benefits are substantial. Group D beneficiaries would face increased age and service requirements, reduced calculation of pension benefits, double the years to calculate the final average salary, and a reduced cost of living adjustment (COLA).
We believe the proposed reduction in benefits for future hires is unnecessary, unfair, and also may dissuade people from choosing public service careers. We continue to fight for quality pensions for our members in OPERS, as well as the State Teachers Retirement System (STRS).