This morning the actuarial hired to review Ohio’s five pension systems issued the report to the Ohio Retirement Study Council.  William Fornia, of Pension Trustee Advisors and KMS Actuaries, said that  Ohio’s defined benefits  (DB) pension plans work well and he recommended that Ohio retain the DB model and included a choice for those that want a defined contribution (DC) plan.  He also noted that all of the pension systems in Ohio have “really tackled tough issues…and gotten membership buy-in with painful decisions”.  He urged the legislature to take action this year and pass the plans submitted by the systems, with the concept of Board authority to make limited changes in plan provisions (COLA, retirement age or member contributions)