April Board News from STRS Ohio

COLUMBUS, Ohio – April 18, 2025 – The State Teachers Retirement Board has announced significant benefit changes for both active and retired members of STRS Ohio. These adjustments come as part of ongoing efforts to support members while maintaining the fiscal health of the retirement system.

Benefit Changes Approved

Effective July 1, 2025, eligible benefit recipients will see a 1.5% cost-of-living adjustment (COLA) applied to their benefits in fiscal year 2026. This adjustment will benefit retirees who began receiving their benefits on or before June 1, 2021. The COLA will be added to the base benefit monthly, beginning from the anniversary of the retirement date.

For active members considering retirement, changes to service requirements have also been approved. Members who retire between June 1, 2025, and May 1, 2030, will benefit from reduced requirements for an unreduced retirement benefit. Specifically, the service requirement decreases from 33 years to 32 years. Similarly, eligibility for a reduced retirement benefit will lower from 28 years to 27 years of service, applicable at any age.

From June 1, 2030, until May 1, 2032, the requirement for unreduced benefits returns to 33 years, while the requirement for reduced benefits stays at 28 years. After June 1, 2032, the requirements will revert to a minimum of 34 years of service for unreduced benefits and 29 years for reduced benefits.

These changes follow a thorough review by the board’s actuarial consultant, Cheiron, and are part of STRS Ohio’s Sustainable Benefit Plan (SBP). The SBP framework allows the board to evaluate potential benefit changes based on the system’s budgetary integrity.

Operating and Capital Budgets Presented

In other board news, STRS Ohio’s Finance Department shared its proposed operating and capital budgets for the fiscal year 2026, covering the period from July 1, 2025, to June 30, 2026. The proposed operating budget shows a 9.2% increase from the previous year. This budget includes crucial upgrades to information technology and computer systems for both the Member Benefits and Finance Departments. It also accounts for staff compensation adjustments recommended by CBIZ Compensation Consulting.

This preliminary budget proposal will undergo further discussion in upcoming board meetings, with a final vote scheduled for June.

Legislative Update

Interim Executive Director Aaron Hood and Director of Government Relations Marla Bump provided an update on Senate Bill 69. This placeholder legislation seeks to address potential changes to Ohio’s pension systems. Recently, staff members from STRS Ohio met with Senator Mark Romanchuk to discuss desired inclusions in the bill. However, updates indicate that the Senate is unlikely to address S.B. 69 until late summer or fall of this year, coinciding with the state budget approval for the fiscal year 2026–2027. ## Retirements Approved

The board has approved retirement benefits for 77 active members and 67 inactive members, marking an important milestone for those transitioning into retirement.

For more information about STRS Ohio and its initiatives, visit STRS Ohio or contact them at their Columbus office.

State Teachers Retirement System of Ohio
Address: 275 E. Broad St., Columbus, OH 43215
Office Hours: Monday–Friday, 8 a.m.–5 p.m. (except holidays)
Phone: 888-227-7877 (toll-free)
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