Cuts have been approved by the Ohio Public Employee Retirement System.
The vote by the OPERS Board in Columbus will have an impact on more than a million people, current retirees and those who plan to later.
The board says the cuts will save about four billion dollars, taking into consideration cost of living adjustments and the consumer price index. But one board member claims OPERS is financially strong, and the cuts are not necessary, according to the Columbus Dispatch.
Lawmakers at the statehouse will have the final say.