Regards state retirement defined contribution investment options

Summary

The legislation updates Ohio law so that defined‑contribution retirement plans for public employees can include products such as life insurance, annuities, variable annuities, regulated trusts and pooled funds that provide lifetime income. It also gives the retirement board authority to run the plans itself or contract with outside providers, and it repeals an outdated code section. The changes affect members of the PERS and STRS systems and the state board that oversees them.

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