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OEA Representative Assembly Cancelled

The OEA Representative Assembly to be held in Columbus on May 8-9 has been cancelled due to the COVID-19 pandemic.  The OEA Board of Directors is looking at holding a virtual RA with voting on key issues to be held online.  More once this has been decided.

STRS Ohio Newsletter – October, 2018

STRS Ohio

News for Benefit Recipients

October 2018

Health Care Program News

Open Enrollment for 2019 Medical Plans Begins Nov. 1
Open enrollment for STRS Ohio’s medical plans is Nov. 1–20. This is the period for benefit recipients to decide if they want to continue coverage or enroll in a new plan for 2019.
More Details →

Dental, Vision Enrollment Runs Nov. 1–20
Eligible benefit recipients can enroll themselves or their dependents for the 2019–2020 two-year contract period by using their Online Personal Account or submitting an enrollment application to STRS Ohio by Nov. 20.
More Details →

No Premium Increase in 2019 for More Than 90% of Enrollees
Lower than anticipated health care claims during the review period for STRS Ohio’s self-insured plans had a positive impact on the 2019 premiums.
View Premiums →

Online Open-Enrollment Resource Center Available
Accessible on the STRS Ohio website, the center offers enrollment instructions, plan coverage features, premiums, enrollment applications and more.
Learn More →

Health Care Assistance Program Available
STRS Ohio’s Health Care Assistance Program provides qualifying benefit recipients with medical and prescription drug coverage for no monthly premium.
Read Criteria →

STRS Ohio Addresses Concerns About the Cost‑of‑Living Adjustment
The State Teachers Retirement Board’s 2017 decision to reduce the COLA is part of a long-term plan to strengthen the financial condition of the retirement system and there are important facts for members to know about this decision.
Read Facts →
Annual Pension Valuation Report Shared at October Board Meeting
The report provides a detailed look at the financial and actuarial health of the pension fund as of June 30, 2018 (fiscal year end).
More Details →

Investments and Financial News

Total Fund Returns +9.57% for Fiscal Year 2018
The fiscal year 2018 return follows returns of +14.29 in fiscal year 2017 and +0.92% in fiscal year 2016. STRS Ohio’s investment consultant continues to call for lower than normal returns over the next decade.
More Details →
Fiscal 2019 Budget Reflects 2.2% Increase Over 2018
STRS Ohio’s adopted operating budget for fiscal year 2019 totals about $101.7 million. STRS Ohio’s fiscal 2018 operating expenditures were about $637,000 less than the budgeted amount.
More Details →

More News

Do you enjoy the convenience of reading this newsletter online? If you prefer to only receive this newsletter via email and have not yet opted out of receiving it by mail, you can update your correspondence preferences in your Online Personal Account.

State Teachers Retirement System of Ohio
275 E. Broad St., Columbus, OH 43215
888‑227‑7877
44-969G
View this email in your browser.

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STRS Ohio News 02/05/2016

STRS Ohio eUPDATE header image

Feb. 5, 2016
Health Care Funding Challenges Will Be Key Focus in 2016
During its 2016 retreat, the State Teachers Retirement Board took an intensive look at the funding challenges facing the STRS Ohio Health Care Program. The board retreat, held at the STRS Ohio offices in Columbus, provided the board an opportunity to review in depth health care presentations from staff and consultants. The key takeaway is that the projected life of the health care fund has significantly dropped due to increasing health care claims payments and the lack of a dedicated source of funds for health care.
The Challenge — a Closer Look
In late 2011, the board adopted a strategic framework for health care based on receiving a continuous allocation of 1% of the employer payroll contribution (about $100 million annually). By the end of 2013, the health care fund solvency grew to 49 years.
Effective July 2014, the board discontinued the 1% employer allocation to the health care fund in an effort to strengthen the financial condition of the pension fund and as part of STRS Ohio’s plan to eliminate its unfunded liabilities in less than 30 years (as required by state law). The projected life of the health care fund dropped to 19 years. The hope was to restore this funding for health care within a few years.
Today, the suspension of employer contributions to health care will continue because all of the employer contribution is needed for the pension fund. Depletion of the health care fund is now a major concern. While the projected life of the health care fund is expected to be about 17 years, this figure is an average — meaning there is a 50% confidence level that the health care fund has at least 17 years of solvency. Depending on the strength of the financial markets, the amount of health care claims and whether additional funding is available, there is a chance the life of the fund could be 10 years or less.
Next Steps
The Retirement Board identified several steps for staff to pursue while continuing to study potential funding solutions. These steps include:
Work with membership and stakeholder groups to determine the components that deliver a plan that represents a good value and determine how long — with a high degree of confidence — STRS Ohio can offer a meaningful plan.
Evaluate the impact of additional health care plan changes in the areas of eligibility, plan design and subsidy levels.
Work with membership and stakeholder groups on approaches to increase funding for retiree health care.
Continue open and honest communication with the membership and stakeholders.
The Retirement Board and staff will explore options to allow STRS Ohio to continue providing a health care program that is of value to members and will communicate with members throughout the discussion of possible options. STRS Ohio will use its website, newsletters and eUPDATE email news service to keep members informed.
Additional facts about the STRS Ohio Health Care Program
Health Care Program costs for fiscal year 2015 totaled $673 million — more than $1.8 million in health care expenses per day. The total cost has grown more than 51% since 2005 when the program costs were $444 million.
Health Care Program has 131,193 enrollees in 2016, an increase of nearly 17% from 2006 when the number of enrollees was 112,310.
The STRS Ohio eUPDATE is designed solely to provide timely and accurate news and information about legislation, benefits and other issues affecting the STRS Ohio membership.
If you wish to comment on a topic, please either email contactus@strsoh.org or call the Member Services Center toll-free at 1-888-227-7877.

Retired Spring Conference 2015

Spring Conference       Tuesday May 12, 2015          9:30 – 1:15

NEOEA Conference Center

5422 East  96th Street Suite 200

Garfield Hts, OH 44125

 

Schedule

9:30-10:00 Registration/Continental Breakfast

10:-10:20  Introduction/Welcome

10:30-11:25 Breakout Session 1

11:35-12:30  Breakout Session 2

12:30-1:15  Lunch  ( be sure to stay for door prizes)

1:30-2:30  Visit to Canal Exploration Center (optional and no cost)

Breakout sessions:

A.  Health Care Utilization by Tamla Cole

B.  NEA Member benefits by Guy Kendal Freas

C. Legislative Updates by Scott DiMauro

D. Travel Tips for Retirees

 

Registration

Send Registration form with check for $20 made payable to NEOEA by Monday, May 4, 2015.

to   NEOEA

5422 East 96th Street, Suite 200

Garfield Hts.,OH

Registration Form

Name _____________________________________________

Address _________________________________________________

Email _______________________________________________

Phone _________________________________________________

Session Choices in order of preference:  ___________   ,___________  ,___________,   ______________

for more information or questions visit     www.neoea.org

 

 

 

OEA-R Fall Conference

OEA-R STATEWIDE FALL CONFERENCE SEPTEMBER 10, 2014
Speakers include:
· OEA Officers
· OEA Executive Director Sheryl Mathis
· OEA-R Staff Liaison Bill Otten
· STRS & SERS Health Care Personnel will be invited to speak on health care issues/changes for 2015 followed by question & answers.
· Other interesting and informational sessions are planned for the afternoon including our ever popular feature of our own retired members sharing their special post retirement activities.
Location: STRS Building, 7th Floor (275 East Broad Street, Columbus, OH 43215)
NOTE: FREE Parking is provided at the STRS Building.

  • Registration: 9:30 a.m.
  • Program: 10 a.m.
  • Lunch: 12:15 (covered by fee)
  • Conclusion: 3 p.m.

Send your contact information (as listed below) with your $15.00 registration fee by September 1st to:
OHIO EDUCATION ASSOCIATION STATEWIDE FALL CONFERENCE P.O. BOX 2136 Columbus OH 43216-2136
ATTN: Bill Otten
Name________________________________
Address_______________________________
City/State/zip__________________________
Email address__________________________
OEA DISTRICT__________________________

 

 

 

Note from SE Representative

Wednesday, January 8, 2014
OEA-R REPORT to SEOEA Executive Committee
Christine McVicar
A. I have attended the SE Representative Assembly, the December OEA-R Advisory Council
Meetings in Columbus and the OEA Fall Representative Assembly.


B. The winter edition of SEOEA-R Newsletter is ready to email pending receipt of the new updated membership list. (Please educate your retired friends that once they retire, they need to contact OEA about changes to email addresses & other contact information. Also, educate active members that when they retire, they must supply a non-school email address to OEA. One can keep contact info current by contacting
membership@ohea.org or by calling OEA @ 1-800-282-1500 and requesting membership.)


C. Retired members will now serve on Screening Committees that interview state & federalcandidates. Retired members have been selected for these positions and will serve in 2014 pending approval. (SEOEA includes HD 90, 91, 93 and 94.)


D. Membership Drive with gas card gift upon joining pre-retired continues.


E. I currently chair the OEA-R Membership Committee and we have been brainstorming several ideas for increasing pre-retired members, so I am requesting some input from you. You can share your opinions in person or by email at
vicarmac@yahoo.com

  1. Would members be more likely to join if they could do so with a payroll deduction or credit card payment plan while they are active teachers? (One suggestion is 10 payments of $35.00 each.)
  2. If OEA-R had a presentation on OEA-R/pre-retired, would you use it at general and/or BR meetings? (A DVD presentation and/or guest speakers are being considered.)

 

 

Intergenerational Mentoring Program at Ohio University

Mentor an OU student majoring in education?   Christine McVicar recommends it.

        The Intergenerational Mentoring Program is a collaborative project between OEA-R and the OSEA with support from OEA and NEA. The program pairs retirees with students working toward a degree in education. The Intergenerational Mentoring Program is designed to help student teachers and new teachers as they finish their studies and move into their first year of teaching. Visit the Retired Members section of the OEA website (www.ohea.org ) choosing the “Programs & Events” from the drop-down box & then scroll down to see the latest mentoring brochure.  Christine explains:  this program includes 4 meetings of mentors & mentees on campus, usually on Sunday afternoons.  Most of the mentoring occurs via email exchanges, however, some of us mentors do take our mentee out to eat, especially at the beginning.   My first two mentees have graduated and I look forward to working with another one this fall.  It has been my pleasure to act as a sounding board when problems occur and an audience for special achievements.  If you can listen, you can mentor.

                Volunteer by contacting Marilyn Allen at mrasecond@yahoo.com