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Federal Employees Retirement System - covers approximately 2.44 million full-time civilian employees (as of Dec 2005). [2]Retired pay for U.S. Armed Forces retirees is, strictly speaking, not a pension but instead is a form of retainer pay. U.S. military retirees do not vest into a retirement system while they are on active duty; eligibility for non-disability retired pay is solely based upon ...
Acting Executive Director and Chief Financial Officer Lynn Hoover poses in her office at the headquarters of the State Teachers Retirement System in Columbus, Ohio, on Friday, Nov. 22, 2024.
The State Teachers Retirement System of Ohio is the state's second largest public pension fund and oversees about $90 billion invested on behalf of 500,000 teachers and retirees.
A battle is under way for the future of Ohio’s $94 billion teacher pension fund, as would-be reformers’ attempts to deliver long-promised benefits to retirees with the help of an aggressive ...
The retirement fund is a defined benefit type pension plan and was only partially funded by the government, with only $268.4 million in assets and $911 million in liabilities. The plan experienced low investment returns and a benefit structure that had been increased without raises in funding. [29]
Prior to July 2013, ODJFS was also the state agency responsible for the administration of Ohio's Medicaid program. In July 2013, a new state agency was created, the Ohio Department of Medicaid (ODM), Ohio’s first Executive-level Medicaid agency. ODJFS employs about 2,300 full time employees and has an annual budget of $3.3 billion. [2]
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.
The largest teacher pension system in Ohio wants school districts to pay more, which would cost taxpayers an additional $533 million a year.