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Oct. 24—LIMA — The State Teachers Retirement System will distribute one-time supplemental benefits to retirees in December as inflation relief, the pension fund's acting executive director ...
STRS is one of five public pension systems in Ohio. Combined, the five systems have about $225 billion invested for 655,000 public employees, 486,000 retirees and 1.1 million former government ...
In another study, Equable Institute found that the total lifetime value of teacher pension benefits have declined by $100,000 on average (13%) since 2005. A teacher hired for the 2005 school year can expect to earn $768,000 in retirement benefits, where as a teacher hired for the 2023 school year can expect to earn $668,000. [19
The largest teacher pension system in Ohio wants school districts to pay more, which would cost taxpayers an additional $533 million a year.
STRS Ohio, through effective yet tough management decisions, along with strong investment returns, has improved its status from 55% funded in 2012 to nearly 80% funded today.
Changes from the “Tier I” pension law include raising the minimum eligibility to draw a retirement benefit to age 67 with 10 years of service, initiating a cap on the salaries used to calculate retirement benefits, and limiting cost-of-living annuity adjustments to the lesser of 3 percent or half of the annual increase in the Consumer Price ...
The Indiana State Teachers’ Retirement Fund (TRF) was created by the Indiana General Assembly in 1921. Today, TRF manages and distributes the retirement benefits of educators in all public schools , as well as some charter schools and universities, throughout Indiana.
The State Teachers Retirement System of Ohio serves nearly 493,000 active, inactive and retired Ohio public educators. STRS Ohio is one of the largest public pension funds in the country.