A group is asking our retirees to pay for pension protection. Avoid these solicitations from Protect Ohio's Pension, Inc. (POP5).
Faced with massive unfunded liabilities, the State Teachers Retirement Board in April voted to eliminate cost-of-living adjustments (COLA) starting July 1. Health care premiums for those covered by STRS are expected to increase as cost trends continue to go up.
The pension fund for non-teaching school employees, SERS Ohio, is drafting a bill that would give that pension board the authority to change the cost-of-living adjustment (COLA) for retirees; that authority now rests with legislators. While the pension fund is currently within the legally required 30-year funding liability period, gaining the authority to make changes itself would allow the board to be more agile in protecting your pension.
Thank you for attending recent regional meetings to discuss your pension with representatives of STRS Ohio; your engagement has increased awareness around the issues important to OFT members. See what decisions lie ahead.
As OFT members transition to retirement and the close of your career, you won't leave OFT. We have three active retiree chapters to keep you informed about issues impacting retirement and pensions. Retiree chapters are also a good way to stay in contact with friends and colleagues.
For info on joining the Cincinnati Federation of Teachers retiree chapter, Local 1520-R, call 513-961-2272. For info on joining the Cleveland Teachers Union retiree chapter, Local 279-R, visit http://ctur.oh.aft.org or call 216-861-7676. For info on joining the Toledo Federation of Teachers retiree chapter, Local 250-R, call 419-535-3013.
Pension fund for teachers. The mission of STRS Ohio is: To partner with STRS Ohio members in providing financial performance and member service that assures financial security for current and future retirees. Find out about the services offered to members.
Pension fund for non-teaching school employees. The mission of SERS is to provide pension benefit programs and services to our members, retirees, and beneficiaries that are soundly financed, prudently administered, and delivered with understanding and responsiveness. Find out about the services offered to members.
Pension fund for public employees. OPERS is the largest state pension fund in Ohio and the 12th largest public retirement system in the U.S. The mission of OPERS is: To provide secure retirement benefits for our members. Find out about the services offered to members.
The National Institute on Retirement Security is a not-for-profit organization established to contribute to informed policymaking by fostering a deep understanding of the value of retirement security.
Defined benefit public pensions like those provided to OFT members via OPERS, STRS and SERS provide greater retirement security to workers at a lower cost to employers.