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Thursday, April 29, 2004

Senate scraps House pension bill, crafts own



The Associated Press

COLUMBUS - The House and Senate moved back to square one on changing the state's public-employee pension plans after the Senate scrapped the House version Wednesday and installed its own for a vote.

The vote sent the bill back to the House, where it likely will be rejected. That means a joint committee will have to settle differences.

Three Democratic senators - Mark Mallory of Cincinnati, C.J. Prentiss of Cleveland and Kimberly Zurz of Green - joined majority Republicans to reject the House bill.

The House version, sponsored by Republican Rep. Michelle Schneider of Cincinnati, reorganized governing boards of the five pensions and would require they must invest pension funds in Ohio firms if they are equally qualified as companies outside the state.

The plans came under scrutiny after the chairman of the police and fire fund resigned in September after reports the system spent over half a million dollars on travel and expenses.

In August, the State Teachers Retirement System executive director also resigned after criticism of spending.




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