HB 202 Summary

• Limits retirement benefits for re-employed retirees across Ohio public retirement systems (PERS, OP&F, STRS, SERS, SHPRS) who earn income exceeding $14,160 annually by forfeiting $1 in benefits for every $2 of excess earnings, adjusted annually for inflation.

• Eliminates the deferred retirement option plan (DROP) for the Ohio Police and Fire Pension Fund and State Highway Patrol Retirement System by prohibiting new elections after the bill's effective date; existing participants may continue.

• Removes provisions allowing PERS retirants to become members under certain circumstances (division C of section 145.38) and adjusts membership definitions across multiple retirement systems accordingly.

• Establishes an earnings-based benefit reduction mechanism as an alternative to complete benefit forfeiture during the first two months of re-employment, applying uniformly across all affected state retirement systems.