Nancy Hamant to Governor Strickland and Legislators: STOP HB 151, HB 152 and SB 161

From Nancy Hamant, June 19, 2007
Subject: HB 151, HB 152 and SB 161

June 19, 2007

To:
The Honorable Michelle Schneider
The Honorable Robert Schuler
The Honorable Jon Husted
The Honorable Lynn Wachtmann
The Honorable Governor Strickland

From: Nancy B. Hamant, Warren County Retired Teachers Association (WCRTA) and Concerned Ohio Retired Educators (CORE)
Subject: HB 151, HB 152 and SB 161

I am writing to you today to request that you stop/halt HB 151, HB 152 and SB 161.

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 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. In fact, the federal government is not requiring such action from United States’ citizens. An article in today’s Enquirer pointed out that the US is halting all economic and political sanctions on the Palestinians so that peaceful negotiations may take place.

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! If all fails, Governor please veto all! Please contact me about your actions on these three bills.

Respectfully,
Nancy B. Hamant
(Address, etc.)
XC: WCRTA, CORE