EDITORIAL: OPS MUST KEEP FOCUSED ON MOVING ITS PENSION FUND INTO LONG-TERM STABILITY

OMAHA - Omaha Public Schools has an obligation not only to educate students well but also to manage its pension system well. After a recent period of disastrous management and embarrassment, the pension system is under more stable operation.

The appointment of a capable former state senator, Patrick Bourne of Omaha, to the board overseeing the fund provides an occasion to review what OPS has done and where it should be heading on the pension front.No question, the OPS fund has a long way to go. Financial experts say pension programs should be 80% funded to be fiscally sound. The OPS fund currently is at 63%.

Even with the sound strategy put forward this year by OPS, it will take a projected 17 years to bring the pension system back to relative solvency. In other words, fixing the system’s pension mess will require close ongoing attention by OPS, year after year. The system must not drop the ball again.

Read the article HERE.