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Saturday, September 28, 2024

Ohio's public pensions receive $9 million in contributions for 2022

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Ohio Governor Mike DeWine | Wikipedia

Ohio Governor Mike DeWine | Wikipedia

In 2022, Ohio had received $9 million in contributions to its public pension funds, according to data obtained from the U.S. Census Bureau's Annual Survey of Public Pensions.

Of that amount, $8.9 million was in state pension funds, and the remaining $57,795 was in local government pension funds.

The survey includes public pensions sponsored by local and state government entities with employees who are compensated with public funds. The local governments include counties, townships, school districts and special districts.

The data gathered includes revenues, expenditures, financial assets, membership and liabilities information.

It's worth noting that residents in Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming are not subject to state income taxes.

The Census Bureau cautions that not all respondents answer all survey questions. Thus, some fields were left blank.

Ohio reported data from eight pension systems, including seven state-level pension funds and one local-level systems. The total number of pension system members was 2,007,039 (1,998,400 at the state level and 8,639 at the local level).

Contributions to Ohio's public pension funds
LocalStateLocal & State
Employee contributions$20,189$3,901,626$3,921,815
Government contributions$37,605$5,047,783$5,085,388
Total Contributions$57,795$8,949,409$9,007,203
Source: US Census Bureau

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