OH SB239

Increases police officer employer contribution rate from 19.5% to 24% of salaries over a five-year phase-in period, with 1% annual increases starting the first July after the bill's effective date until reaching 23.5%, then a final increase to 24%

Maintains firefighter employer contribution rate at 24% of salaries, aligning police and fire employer contributions at the same level

Authorizes the Ohio Police and Fire Pension Fund board to adjust employer contribution rates if the fund's unfunded liability amortization period exceeds 30 years, with adjustments limited to 1.5% over three years and 0.5% per year

Requires any contribution rate adjustments to be identical for both police and firefighter employers and effective no earlier than the first July following completion of the actuarial valuation

Repeals section 742.311 of the Revised Code and removes previous reporting requirements for the pension fund board regarding amortization plans and progress reports to the Ohio Retirement Study Council