Ohio Pension Reform

Ohio Pension Reform

Resources

onCampus Coverage of Pension Reform

Ohio Pension Reform Information

Pension Plan Changes

September 12, the Ohio legislature approved the pension reform proposals put forth by the Ohio Public Employees Retirement System (OPERS) and State Teachers Retirement System (STRS). Changes will go into effect beginning January 7, 2013, and will be phased in over the next several years.

In early October, the Ohio Public Employees Retirement System (OPERS) finalized changes to the retiree health care benefit. The changes did not require legislative approval; the OPERS board was able to approve the changes, as OPERS is not statutorily obligated to provide this benefit. The changes will go into effect beginning January 1, 2014.

The reforms are complex, and affect everyone differently based on their individual circumstances. Faculty and staff are encouraged to review the information, and contact STRS or OPERS for more details; both organizations have posted detailed information on their websites and will keep the sites updated with new materials:

  • Read an overview of pension changes on the STRS website. The overview contains details about the transitions of the reforms.
  • Read an overview of pension and health care changes on the OPERS website. This information is organized by anticipated retirement date to help clarify how the changes may affect you based on your retirement eligibility.

For more information, contact:

News and Information

  • STRS Board Approves Changes: Read this message from Andraea "AJ" Douglass to faculty enrolled in the Alternative Retirement Plan, announcing a change in the mitigating rate, April 30, 2013
  • OPERS Summary of Pension Changes: View a one-page summary of the key provisions contained in pension legislation passed September 12, 2012. 
  • OPERS Summary of Health Care Changes:View a one-page summary of the key changes to the health care plan adopted by the OPERS Board on September 19, 2012. 
  • When do you want to retire? Retirement is a highly personal decision and depends on a number of factors. These decision trees offers questions and steps to help you think through your options. Faculty: When Do You Want to Retire?, and Staff: When Do You Want to Retire? November 2, 2012
  • Pension reform and you — thinking about retiring? This Resources article outlines steps to begin the retirement process, and key dates of which faculty and staff need to be aware. October 18, 2012
  • OPERS offers guides for pension, health care rules: OPERS has posted Comprehensive Guides to Pension and Health Care Changes on its website to help members and retirees understand the many updates that might affect them in the future. From PERSpectives, the Ohio Public Employees Retirement System blog, October 4, 2012
  • OPERS sees spike in volume: With 45,000 members across the state who are eligible to retire, OPERS is experiencing a high volume of requests. OPERS offered several suggestions for staff who are planning to retire in the next several months. Read tips on working with OPERS, such as quickly beginning the retirement process, and arriving for walk-in appointments no later than 3 p.m. September 27, 2012
  • Pension reform legislation passes: Read this message from Kathleen McCutcheon to all faculty, announcing the passage of pension reform legislation, September 13, 2012
  • Pension reform legislation passes: Read this message from Kathleen McCutcheon to all staff, announcing the passage of pension reform legislation, September 13, 2012
  • Pension reform legislation: Significant movement expected: Read this message from Kathleen McCutcheon to all staff, announcing the expected passage of pension reform legislation, September 7, 2012