Inter-University Council of Ohio A voluntary educational association of Ohio's public universities since 1939
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STRS

For almost 90 years, the State Teachers Retirement System of Ohio (STRS Ohio) has been a cornerstone in helping to provide financial security for the public educators of this state, as well as supporting economic activity at the local, state and national levels. The contributions to the pension fund, both from members and employers, are part of the members’ compensation package paid in return for work performed. At the conclusion of the teachers’ career, STRS Ohio uses this deferred compensation to provide a pension benefit (in lieu of Social Security).

OPERS

With assets of $68.9 billion as of 12/31/09, OPERS is the largest state pension fund in Ohio, the 12th largest public retirement system and the 16th largest retirement system in the U.S.
OPERS is located in the heart of downtown Columbus -- Ohio's capital city -- just blocks from The Ohio Statehouse and Capital Square.
In 1935, the Ohio Public Employees Retirement System began a tradition of providing excellent retirement benefits for state employees.
Today, the system provides retirement, disability and survivor benefit programs for public employees throughout the state who are not covered by another state or local retirement system

SERS

The School Employees Retirement System of Ohio. SERS is a defined benefit public pension fund that provides pensions and access to health care coverage for the people who served our schools. Our members are bus drivers, custodians, administrators, administrative assistants, food service providers, and educational aides – anyone who works for a school or school system in a nonteaching position.

ORSC

The Ohio Retirement Study Council (ORSC) was created in 1968 to assist the state legislature, governor, and other public officials in the formation of sound public pension policy, and is one of the oldest public oversight councils in the country. Since then, several states have turned to the Council for guidance in creating their own retirement councils.

NIRS

The National Institute on Retirement Security is a not-for-profit organization established to contribute to informed policymaking by fostering a deep understanding of the value of retirement security to employees, employers, and the economy through national research and education programs. NIRS seeks to encourage the development of public policies that enhance retirement security in America.
   

 
 


Pension Reform Information

  • Pension Reform in the State of Ohio: this pamphlet contains valuable data from OPERS, STRS, and SERS about employer and employee contributions; it also presents important information regarding the important features of a defined benefits (DB) plan; for printing purposes, please note this document is designed for 11x17 paper.

  • Pension Reform Table of Changes: this two-sided matrix provides a simple, abbreviated side-by-side comparison of proposed changes to the three systems impacting our campuses (OPERS, STRS, and SERS),

  • Frequently Asked Questions: the IUC office is collecting the most frequently asked questions that are being raised on our campuses by our faculty and staff; this document helps answer these questions.

  • Pension Reform Communication of NIRS Study:  this simple-to-read two-page document is essentially the CliffsNotes version of the 24-page NIRS study titled:  A Better Bang for the Buck:  The Economic Efficiencies of Defined Benefit Pension Plans; Beth Almeida and William B. Fornia, FSA; August 2008.

  • OSU letter to campus community: this letter was written and distributed by Larry Lewellen, Vice President for Human Resources, to The Ohio State University faculty and staff; it is a well-written communication piece that describes the appropriate need to offer a DB plan to our campus’ faculty and staff population.

Articles on Pension Reform:

Pension rules allow educators to double dip

Pensions lobby has power at Statehouse

States' pension cuts hardly thrifty

Pension fund should trouble state officials

Ohio’s pension systems should be emulated instead of criticized