An alert from RH Jones re: Co-sponsor Request; Alternative Retirement Plans for Teachers and School Employees
From RH Jones, January 17, 2007
Subject: Co-sponsor Request; Alternative Retirement Plans for Teachers and School Employees
To CORE:
This looks dangerous to our STRS. We need to fight this. Don't expect ORTA to do a anything. They haven't done much in the past.
RHJones
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Lyn Falk to Bob Jones, January 17, 2007
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Lyn Falk to Bob Jones, January 17, 2007
Subject: FW: Co-sponsor Request; Alternative Retirement Plans for Teachers and School Employees
Bob
FYI
Don’t know a thing about this bill – at this point information would have to come from the sponsor
Lyn Falk, Legislative Aide to BRIAN G. WILLIAMS, State Representative
Ohio House District 41 (Akron & NW Summit County)
614-644-5085
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MEMORANDUM
TO: All Members, 127th General Assembly
FR: Representative Michelle Schneider
DT: January 10, 2007
RE: Co-sponsor Request; Alternative Retirement Plans for Teachers and School Employees
I will soon introduce legislation that would require school boards to establish alternative retirement plans for K-12 teachers and other school employees.
Currently higher education employees have the option to participate in Defined Contribution Plans with outside providers. This bill extends current law to empower K-12 teachers and employees with further options for their future.
The state systems have adopted their own Defined Contribution Plans, which are offered to K-12 teachers and employees. This bill will allow for greater flexibility and freedom of choice over their retirement options.
K-12 teachers and employees will have three options: the traditional state system Defined Benefit Plan; the state system’s Defined Contribution Plan; or Defined Contribution Plan with outside providers.
The Department of Insurance strongly regulates the companies that currently offer plan to higher education employees. There are detailed and rigid requirements that outside providers must meet in order to participate in the program.
If you are interested in co-sponsoring this legislation, please contact Ariel Defay in my office at 466-0891 or via e-mail at ariel.defay@ohr.state.oh.us by 5:00 pm Friday, January 26, 2007.
Ariel Defay
Legislative Aide
Representative Michelle Schneider, District 35
Ohio House of Representatives
Phone: 614.644.6023
posted by Kathie Bracy at 11:41 AM
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