(February 28, 2018) Ohio’s five retirement systems scored a big year in 2016 with investment returns that eclipsed even the most optimistic projections, according to a story that appeared in today’s Dayton Daily News and other Ohio newspapers. In the case of the Ohio Public Employees Retirement System (OPERS), the 2017 return on investments reached 16.61%, more than double the 7.5% annual anticipated rate of return. Other Ohio pension systems performed similarly and all will likely see improvements to their overall funded status.
PERI President & CEO Geoff Hetrick issued the following statement, “This is great news for members of OPERS, especially retirees, who have found themselves in the midst of a battle with the retirement system over a proposed reduction in their guaranteed 3% COLA to actual inflation capped at a maximum of 2.5%.” “Returns such as this remind us that the system is financially strong. OPERS’ plans to reduce the COLA are unnecessary and a threat to our most vulnerable population, the elderly.” We have provided a link to the story here: https://www.daytondailynews.com/news/big-returns-help-bolster-ohio-five-public-pension-funds/61mj6w35nXeMflJhZrgvJP/