Form letter sent out by Speaker Jon Husted

From Molly Janczyk, June 20, 2007
Subject: From Husted: HB 151, HB 152 and SB 161

This is the form letter many are receiving as a result of their concerns over HB151, HB152, HB161 from Rep. Jon Husted; email address below. Please make yourselves heard to Rep. Husted and to YOUR legislators.

Jon Husted to Molly Janczyk and Nancy Hamant, June 20, 2007
Subject: RE: HB 151, HB 152 and SB 161

June 20, 2007
Nancy B. Hamant
(Address)

Dear Ms. Hamant:

I received your e-mail regarding your concerns with House Bill 151, House Bill 152 and Senate Bill 161. I appreciate you sharing your views on these issues and for your work on behalf of retired teachers and educators in our state.

As you are likely aware, House Bill 152 was introduced by Representative Widener on April 17, and referred to the House Financial Institutions, Real Estate and Securities Committee. This measure would require school boards to establish alternative retirement plans for teachers and school employers.

Additionally, House Bill 151 was scheduled for a vote on the House floor on June 5. However, after meeting with the pension plans, my colleagues and I agreed to give the plans time to deliver a letter in which they state their intent to divest at least 50 percent of their investment portfolio with the intention of divesting 100 percent at a later, unspecified date. On Thursday, June 7, Ohio's five public employee pension systems agreed to adopt policies aimed at dropping shares of companies that do business in Iran and Sudan. The systems said that they would divest themselves of half of these investments by the end of the year and ultimately divest the rest. In this case, I am thankful the pension funds have agreed to voluntarily comply.

Senate Bill 161, sponsored by Senator Jeff Jacobson was introduced on May 3 and referred to the Senate Finance and Financial Institutions Committee. Senate Bill 161 would specify procedures for divesting investments a public authority holds in a company conducting specified types of business in Sudan and to prohibit public authorities from investing in such a company.

Again, thank you for contacting me and sharing your views on these pieces of legislation. Be sure that as we continue to discuss these measures in the Ohio House, I will be mindful of your views. If I can be of further assistance, please contact my office.

Sincerely,

Jon A. Husted
Speaker Ohio House of Representatives