Ohio fund wants changes on in-state investing bill

The Ohio Public Employees Retirement System, Columbus, is ramping up efforts to alter a bill passed by the Ohio House last week that would require statewide public retirement systems to use in-state firms for at least 70% of assets under external management. The bill must be reconciled with Senate legislation that calls for increased oversight and accountability before a final bill can be presented to Gov. Bob Taft. "While we support the Senate bill, we do have problems with the House bill," said Laurie Hacking, executive director of the $52 billion system. "We are trying to meet with as many legislators as possible to explain our issues with the (House) bill. We're also expressing our concerns to the governor." Ms. Hacking said she expects legislative action on the two bills in the next one to two weeks.