Ohio Teachers Retirement System Updates: New Rules & Cost-of-Living Boost
Dayton News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Ohios State Teachers Retirement System introduces significant changes, offering retirees a 1.6% cost-of-living adjustment starting July and extending service requirements for active educators to maintain fund health. Teachers retiring between June 2023 and May 2035 need 32 years of service or be 65 with 5 years for full benefits; reduced benefits options include any age with 27 years or 60 with 5 years. The systems funded ratio has improved, and a new strategic framework targets 32 years of service for unreduced retirement and a 1% annual cost-of-living adjustment for retirees.
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