4612 - 68 Study re: full funding of Police & Fire State pension plan

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RESOLUTION NO. 461~ BY: Messrs. Graber, Huffman, Kelley, Usher, Ward, Wendling, Gaydos AN EMERGENCY RESOLUTION calling upon the Legislature of the State of Ohio to authorize a study by the Legislative Service Commission of the present legislation requiring full funding of the Police and Fire State pension Fund. WHEREAS, this resolution constitutes an emergency measure providing for the daily operation of the City of Lakewood in that in the interest of public service, welfare and safety it is necessary to direct this resolution to the Legislature of the State of Ohio, and, WHEREAS, Ohio's larger central cities have convened together the 26th of January, 1968 to consider problems of mutual interest vitally affecting Ohio's urban population and whereas foremost among these problems is the current law requiring payment of the full accrued liability of the State Police and Fire Pension Fund commencing in the year 1969, and, WHEREAS, the 107th General Assembly is currently in session and Ohio cities believe immediate action must be taken relative to this problem; now, therefore, BE IT HESOLVED THAT THE FOLLOWING FINDINGS AND RECOMMENDATIONS BE FORWARDED TO THE GOVERNOR, ME~ERS OF THE OHIO SENATE AND HOUSE OF REPRESENTATIVES, AND TO OHIO'S CITIES AND VILLAGES: Section 1. The present legislation requiring full funding of the accrued liability of the Police and Fire Pension Fund imposes an intolerable burden on municipalities throughout the state and requires contribution on said accrued liability to start in 1969, at a time when municipalities do not have the means to finance such contribution. Section 2. Even if, under current restrictions upon local taxing powers, the means of financing of such contribution could be placed on the ballot by Ohio's cities, there is no assurance of their passage or approval, therefore potentially leaving Ohio cities without the means of financing the require4 contribution in 1969. Section 3. All municipalities have already accepted a tremendous cost and began the funding of current and future police and fire pension liabilities in 1967, and will continue to do so thus providing local funds to meet current pension needs. Section 4. An ever Increasing complex of social and economic needs of Ohio's urban areas has placed new burdens on our cities in such priorities that all available and feasible financing resources are being utilized. Section 5. It is our firm position that full funding of the Police and Fire Pension Fund is not required to guarantee the security of pension payments, and that a study by the Legislative Service Commission should he immediately authorized by the General Assembly to consider alternatives to the full funding requirements. Section 6. Until an acceptable plan for funding the accrued liability has been adopted, no burdens should be imposed requiring tax measures to be submitted to the voters, and the contribution required of cities in 1969 should be deferred until after the General Assembly considers the findings and report of the Legislative Service Commission.