Pension reform signed into law.

• Position: Ohio

Pension fund reforms were signed into law by Gov. Taft this past June, after allegations of improper spending and ethics violations.

The new law spells out ethics and travel policies for the pension fund boards. It also expands four of the state's five pension fund boards, while removing the attorney general and auditor. The boards are also required to include investment experts appointed by the governor and legislative leaders.

While the new law does not require a specific amount of investments from Ohio companies, it does set a goal regarding use of Ohio-based brokers or investment agents.

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