[Salutation]
As a former Ohio schoolteacher, I would like to add my voice to those requesting that you stop HB 151, HB 152 and SB 161.
All of these bills unfairly target educators and the strength and viability of our pension system, STRS. We have a hard enough time living on modest pension and struggling to cover the cost of healthcare without the legislature's making it tougher for us. We accepted meager salaries all during our careers, believing we would have a decent retirement; now they threaten to take it all away from us in one way or another, as outlined in these bills. it is no coincidence these three bills are emerging at the same time.
The Ohio General Assembly is overstepping its authority under the U.S. Constitution and existing federal commerce and trade laws. This issue belongs in the hands of Congress and not the Ohio General Assembly, or any other state legislature. The duties and responsibilities for overseeing US Foreign Policy, and international banking and trade laws, rests with the Congress and President and not with individual states. If Congress enacts legislation that applies equally to all 50 states and US territories, restricting commerce and banking with 'commonly' identified terrorist states, then I find that acceptable. The end result of this ill-conceived legislation will be to cause further financial damage to an already floundering Ohio economy and its struggling retirees. Any legislation such as this should come from Congress and not a handful of state legislatures.
These bills unfairly target Ohio's five pension fund members without requiring equal sacrifice from all Ohio citizens. In addition, these bills seem to be written together and will have major impact on Ohio's public workers and retirees -- educators, firefighters, police, highway patrol and school workers! It is incomprehensible that Ohio's legislators would write and try to pass such legislation without actuarial research as to the impact on Ohio's pension funds. And to reduce fiduciary responsibility for fund trustees is a direct recognition that the Ohio pension funds may face major losses. In addition it is a "kick-in-the-teeth" to all of Ohio's dedicated workers. The lack of protection of the workers' hard-earned pensions will make it very difficult for Ohio to obtain future workers as they will be unable to trust Ohio legislators.
After major investment losses, from 2000 - 2003, the pension funds are just beginning to emerge from increased unfunded liability, which has not been within state or federal requirements, and now to have legislators propose this unconscionable limitation on the funds for purposes that truly fall under federal jurisdiction, not Ohio's legal responsibility, is reprehensible.
As stated the actions contained in HB 151 and SB 161 far surpass Ohio legislative responsibility. Recently, Illinois went to court regarding similar legislative initiatives and won its case, as the actions were not deemed legal.
HB 152 should be dropped as STRS already offers Defined Contribution and Combined Options for its members (15% are in these options) as well as the Defined Benefit Option (85%). HB 152 is redundant and unnecessary.
I urge you to stop all three bills before they cause irreparable harm and economic disaster to Ohio's public workers! Please contact me about your actions on these three bills.
Respectfully,
[Name, address, phone no.]
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