OH HB14

Limits annual salary or wage increases for PERS employees earning $200,000 or more to the lesser of 3% or the actual consumer price index increase for the preceding twelve months.

Prohibits PERS employees from receiving salary increases if the General Assembly authorizes and the board suspends annual benefit increases under section 145.323.

Establishes investment management fee limits for state retirement systems between 0.16% and 0.6% of total assets under management.

Requires all state retirement system boards (PERS, Police and Fire Pension Fund, State Teachers, School Employees, State Highway Patrol) to discharge fiduciary duties solely in the interest of participants and beneficiaries.

Creates a temporary Committee on Pension Salaries and Fees with 7 members to investigate and report on retirement system employee compensation and investment fees within six months, then automatically dissolves 60 days after submitting its report.