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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 ...
Pension benefits are primarily designed to favor workers who work a full career (typically at least 25 years of service), which account for approximately 24% of state-level public workers. In a study of 335 statewide retirement plans, Equable Institute found that 74.1% of pension plans in the US served this group of workers well.
The largest teacher pension system in Ohio wants school districts to pay more, which would cost taxpayers an additional $533 million a year.
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 Ohio Education Association (OEA) is a teachers union which serves as the largest such organization for educators in the American state of Ohio.The organization represents teachers, educational support professionals, counselors, curriculum specialists, librarians, health care workers, school nurses, school psychologists, vocational-technical instructors, higher education, students and ...
A defined contribution (DC) plan is a type of retirement plan in which the employer, employee or both make contributions on a regular basis. [1] Individual accounts are set up for participants and benefits are based on the amounts credited to these accounts (through employee contributions and, if applicable, employer contributions) plus any investment earnings on the money in the account.
The State Teachers Retirement System of Ohio is facing "a hostile takeover of a public pension by private interests," according to a 14-page anonymous memo that surfaced Wednesday.
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