OPERS Considering Cutting Cost-Of-Living Adustments
The Ohio Public Employees Retirement System is considering cuts to annual pension cost-of-living adjustments. The system is looking at limiting the adjustments to its current cap of 3 percent, freezing the adjustments between one and five years or lowering the 3 percent cap. Executive Director Karen Carraher says it would keep funding strong. The proposals are estimated to save the pension fund 1.7 to 6.3 billion dollars annually.