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What happens when public pensions run low on money?

Pension spelled out in Scrabble tiles
Lending Memo
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Flickr

When you decide to become a police officer or a firefighter, you run through numerous risks, including exposure to violence and traumatic scenes, mental health strains and physical injuries.

One of the rewards is a pension, a guaranteed income for your retirement paid by yourself and your employer.

But what happens if that pension fund starts running out of money?

There’s really two choices: add more money or cut benefits.

That’s the choice facing the Ohio Police and Fire Pension Fund right now.

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