Student Loan Forgiveness
If you are looking for information on eligibility for debt forgiveness, we recommend you visit : Student Debt Cancellation, PSLF & More: What Educators Need to Know | NEA. Also visit the NEA Student Debt Navigator, a powerful toll that can help manage student loan debt, find forgiveness options and the lowest payment options at no cost! To be best prepared, be sure you have created an account at NEA Member Benefits. Start here: www.neamb.com/start
Need help understanding what’s going on with student loans and loan forgiveness?
NEA Member Benefits will share the latest about student loans and loan forgiveness as we enter a time of great uncertainty.
No pre-registration is required. Simply join the session(s) most convenient for you:
- December 16 at 4:00 p.m. ET
- December 17 at at 6:00 p.m. ET
- December 18 at 7:00 pm ET
If prompted: MEETING ID is 823 2915 5910 and the PASSCODE is 815183
NEA Member Benefits will help make sense of loan repayment & forgiveness, the current administrative forbearance and options borrowers have, rule changes, what the future of loan forgiveness looks like under a new administration and learn about the NEA Student Debt Navigator and how it can help NEA members manage their student loans and forgiveness options at no cost.
December 2023 OEA Retirement Systems Update
SERS Board Finalizes Anti-Spiking Provision
The SERS Board has approved the final piece of an anti-spiking provision known as the Contribution Based Benefit Cap (CBBC). The state budget bill, House Bill 33, included the provision that impacts future SERS retirees. The CBBC will go into effect on August 1, 2024. It will only affect a small fraction of retirees who have abnormally large increases in salary that are not supported by retirement contributions over their career. When a member’s final average salary in their pension calculation is well above what would be expected from normal salary increases, their benefits are effectively subsidized by other members of the system.
The final piece of the CBBC puzzle was the SERS Board adopting a “factor” used in its calculation. The CBBC calculation annuitizes member/employer contributions and then multiplies it by a factor that will be identified by the SERS Board. A member’s pension is capped at the lower of the formula benefit or the CBBC benefit. The SERS Board adopted a factor of 6.25. Analysis of past retirement data indicates that only a small number of future retirees will be impacted by this change. Of the nearly 3,000 retirements from 2022 and 2023, only eight would have seen a reduction had the CBBC been in place.
STRS Executive Director on Leave Amid Investigation
On Friday, November 17, 2023, the STRS Board voted to put Executive Director Bill Neville on leave pending an investigation by an outside council appointed by Ohio Attorney General Dave Yost. The investigation will look into accusations from an anonymous letter from STRS staff alleging a pattern of harassment and threats of violence.
Lynn Hoover, who serves as Chief Financial Officer for STRS, will serve as acting executive director during the investigation.
Click here to download a copy of this December 2023 Report to the OEA Board of Directors. Previous Retirement Systems Updates can be viewed under the Affiliate Resources tab on the OEA website.
October 2023 OEA Retirement Systems Update
SERS Board Approves 2.5% COLA for 2024
At its September meeting, the SERS Board approved a 2.5% cost-of-living adjustment (COLA) increase for eligible retirees in 2024. SERS bases its COLA on the change in the Consumer Price Index (CPI-W) over a twelve-month period.
This year’s CPI-W was 2.3%. However, the Board’s actuary stated that a slightly higher COLA amount would not materially impair the funding status of the pension plan. With that in mind, the Board unanimously voted to approve a COLA of 2.5%, which is the highest amount permitted by statute.
Payment of the 2024 COLA takes effect on a retiree’s anniversary date. Those who retired on or after April 1, 2018, are not eligible for a COLA increase until the beginning of their fourth year of SERS retirement.
OPERS and STRS to Pursue Increased Employer Contributions
On Tuesday, October 17, the OPERS Board voted 7-2 to pursue legislation that would increase the percentage of payroll that employers pay to support OPERS benefits for public employees. The current employer contribution amount is capped at 14%.
OPERS plans to seek legislation that would increase the statutory maximum employer contribution limit from 14% to 18%. The increase would be phased in over time. Further, OPERS recommends allowing an additional increase of up to 1% every 10 years if needed to fund benefits.
Likewise, the STRS Board voted in 2022 to seek legislation to allow for an increase in employer contributions to the pension fund. Although the Board did not put forth a specific proposal, legislation was introduced in the last session (HB 601) which would have increased the employer contribution cap from 14% to 18% over an eight-year period. A similar proposal may be introduced this session. The STRS Board has established a legislative committee which will begin discussing potential legislative recommendations in November.
Ohio pension plans are hamstrung by a fixed employer contribution rate that has been unchanged for decades. Ohio public employees do not pay into Social Security and therefore are more reliant on their pension benefits. Total contribution rates in Ohio are lower than in other non-Social Security states. Further, Ohio pension systems are mature plans that pay out far more in benefits to retirees than they receive in contributions. This puts tremendous pressure on investment returns to adequately fund future benefits. When investments take a downturn, this puts member benefits at risk as we saw in pension reform in the wake of the Great Recession.
OEA believes that an increase in employer contributions is warranted. It would help improve the long-term solvency of the plans and support needed benefits for current and future retirees. However, proposals to increase employer contributions face a difficult path in the legislature. During pension reform, Governor Kasich refused to consider such an increase. Employer groups will be opposed to such legislation. Increases in employer contribution rates may also have an impact on the ability of OEA local associations to negotiate higher salaries.
OEA will keep members updated when legislation is introduced and there is an opportunity for member advocacy on this issue.
Actuarial Valuation Shows Slight Improvement in STRS Funding Status
On Thursday, October 19, the STRS Board received a report on its annual actuarial valuation. This report shows the financial status of the pension plan as of the end of the fiscal year (June 30) and how it has changed in the past twelve months.
The valuation shows a slight increase in the funded status of the plan. The STRS pension plan is 81.3% funded, compared to 80.9% last year. The amount of time needed to pay off the unfunded liabilities of the pension plan decreased slightly to 11.2 years from 11.5 years.
The Board’s actuary, Cheiron, also provided a valuation for the STRS Health Care plan. This plan continues to be fully funded with a funded ratio of 168%. The healthy financial status of the plan has allowed the Board to make benefit improvements to the plan and provide premium rebates to retirees in recent years.
Click here to download a copy of this October 2023 Report to the OEA Board of Directors. Previous Retirement Systems Updates can be viewed under the Affiliate Resources tab on the OEA website.
OEA stands with the United Auto Workers
“The Ohio Education Association Board of Directors recognizes the critical role that the UAW plays, along with the commitment of its’ members who have shaped the auto industry and set standards for worker’s rights across the state. We express deep support and solidarity with our brothers and sisters in the United Auto Workers as they work for fair contracts with the American car manufacturers,” OEA President Scott DiMauro stated.
The Ohio Education Association passionately believes that a fair and equitable workplace is the foundation for a thriving economy and better communities. We encourage everyone to show their support for the United Auto Workers and join the fight to make things right at the Big Three.
Finally, the OEA Board of Directors urges the automotive industry stakeholders to engage in productive and fair negotiations that lead to a mutually beneficial resolution. “It is our hope that an agreement can be reached soon, and UAW members can return to their jobs with fair treatment and improved working conditions,” states Mr. DiMauro
Celebrate Educators with the Columbus Blue Jackets!
Join the Columbus Blue Jackets for CBJ Educator Spring Ticket Offers!
Every season, the CBJ wants to take a moment to re-thank our Educators & school staff for all their support in the community by providing another exclusive ticket promotion. | #ThankATeacher
- March 15 – CBJ vs NY Rangers | 7 PM
- March 17 – CBJ vs NJ Devils | 7 PM
- March 28 – CBJ vs Vancouver Canucks | 7 PM
- April 17 – CBJ vs New York Islanders | 7 PM
This season, with this CBJ Educator Spring Offer, Educators & school staff members can get discount tickets to a few select upcoming games that also come with our Value Meal Voucher to include Food & Beverage with every ticket!
If you have more than one educator in your group, or any additional questions, please call Alec Rivers at (614) 246-3852 or email arivers@bluejackets.com.
Groups of 10 or more will also qualify for even more savings on tickets!
OEA celebrates Student Opportunity Profile metrics in state report cards
“We know our students are much more than just their scores on high-stakes standardized tests, and the quality of teaching and learning in our classrooms is much more than what an overall star-rating can reflect. The new Student Opportunity Profile information in the state report cards goes a very long way toward providing a fuller, more useful picture of what is actually happening in Ohio’s public schools,” said Ohio Education Association President Scott DiMauro. “Especially as our schools and students continue to make up for pandemic-related disrupted learning, the Student Opportunity Profile reports can also be important tools to direct specific supports and resources to specific schools that need them, so every child can receive the excellent public education they deserve – no exceptions.”
The Student Opportunity Profile reports include metrics like the student-to-teacher, student-to-counselor, and student-to-librarian ratios; percentage of early career educators and principals in the workforce; percentage of students participating in advanced placement or honors courses; the percentage of students enrolled in career technical education courses; and much more. OEA members voted unanimously at the OEA Representative Assembly in December 2019, to call on the General Assembly to overhaul the state report card system and include a Student Opportunity Profile in the new version. OEA’s advocacy helped lead to the adoption of the state report card changes, beginning with last year’s release. The Student Opportunity Profile section was included for the first time this year as part of the phase-in process.
“This is the information that’s most helpful to parents and caregivers who are trying to determine whether a school is a good fit for their child. Class sizes and the availability of learning opportunities to meet their child’s individual needs carries far more weight in parents’ decisions than a dissection of standardized test scores,” DiMauro said. “It is unfortunate, though, that parents still can’t make apples-to-apples comparisons with these report cards, because private schools taking public tax dollars through the state’s near-universal voucher expansion scheme still aren’t held to the same academic or financial transparency standards as public schools. It’s time for Ohio’s lawmakers to fix that.”
OEA, Summit County reveal new historical marker
“The Ohio Education Association is so proud of its 175 year history as the voice for Ohio’s public school educators and students, and OEA is grateful for this partnership with Summit County that allows us to share our history with the community as we continue to fight for the excellent public schools every child deserves now and into the future,” said OEA President Scott DiMauro, who took part in Thursday’s unveiling ceremony alongside former OEA presidents Becky Higgins and Patricia Frost-Brooks, as well as educators from around the region.
“The legacy of public education in Ohio lives in accomplishments of our students, who become inventors, actors, scientists, athletes, engineers, public servants, firefighters, astronauts, and, of course, teachers,” said Summit County Executive Chief of Staff Brian Nelsen, “Congratulations to OEA on celebrating 175 years serving our teachers and students and we are proud to recognize the start of your story right here in the heart of Summit County.”
The full text of the new Ohio Historical Marker erected in Summit County is as follows:
“On December 30, 1847, six educators met at the Summit County Courthouse to organize the first convention of the Ohio State Teachers’ Association, now known as the Ohio Education Association (OEA). The organizers Josiah Hurty (Richland County), Thomas W. Harvey (Geauga County), M.D. Leggett (Summit County), Lorin Andrews (Ashland County), William Bowen (Stark County), and Marcellus F. Cowdery (Lake County) hoped to “elevate the profession of teaching” and “to promote the interests of schools in Ohio.” In 1853, the General Assembly enacted the new association’s entire slate of proposals into law, thus ensuring free, universal, public education in Ohio. For 175 years, the Ohio Education Association has advocated for fair terms and conditions of employment for Ohio educators and for the betterment and improvement of public education for all students.”
Photos of the new historical marker and the ceremony unveiling it outside the Summit County Courthouse are available on the Ohio Education Association’s Facebook page.
OEA thanks Ohioans who defeated Issue 1
“This all started last November with a bad idea from some special interests and politicians in Columbus, but something great came out of it. More than 200 organizations brought together tens of thousands of volunteers and over a million voters to say NO WAY are we letting Issue 1 pass,” Ohio Education Association President Scott DiMauro said during a gathering with other member organizations in the One Person One Vote coalition Tuesday night. “You did it. We did it. Ohio did it. And now we will continue to stand together because we’re only getting started.”
The Ohio Education Association was proud to take an active and leading role in the One Person One Vote campaign to ensure that critical public education issues can continue to be addressed through the citizen-led constitutional amendment process when necessary to ensure every student can receive the great public education they deserve – no exceptions.
“As we experience continuing legislative attacks, ongoing battles to secure constitutional public-school funding, teacher recruitment and retention challenges, local school board takeovers, the expansion of unaccountable private school vouchers, and difficult learning and working conditions, OEA is fighting for the respect and dignity of its members, and for supports and resources for all public schools, because Public Education Matters,” DiMauro said. “With a united voice, we will continue to stand up to the attacks from extremist politicians and their well-funded out-of-state backers who are using fear to divide our communities based on race, place, and gender identities and are working to break the public’s trust in Ohio’s public schools. Issue 1 would have made our work much harder to do.”
“OEA applauds the tireless work of the educators across the state who did what they do best over the last few months: educating their friends and neighbors about Issue 1 so they could make an informed decision to defeat it at the ballot box,” DiMauro added.
July 2023 OEA Retirement Systems Update
SERS Anti-Spiking Provision Included in State Budget
The recently passed state budget, House Bill 33, included an anti-spiking provision that impacts the School Employees Retirement System (SERS). Referred to as a contribution-based benefit cap (CBBC), the change in law had been sought by the SERS Board. The CBBC was previously passed by the Ohio House in separate legislation before ultimately being included in the budget.
The CBBC will impact future retirees and go into effect on August 1, 2024. It is expected to only affect a fraction of retirees who have abnormally large increases in salary that are not supported by retirement contributions over their career. When a member’s final average salary in their pension calculation is well above what would be expected from normal salary increases, their benefits are effectively subsidized by other members of the system.
The CBBC calculation annuitizes member/employer contributions and then multiplies it by a factor that will be identified by the SERS Board. A member’s pension is capped at the lower of the formula benefit or the CBBC benefit. Again, this is designed to only impact a small fraction of SERS members and not typical OEA members. More details about the implementation of the CBBC will be available in the coming months as the SERS Board determines the multiplier to be used in the calculation.
Click here to download a copy of this June 2023 Report to the OEA Board of Directors. Previous Retirement Systems Updates can be viewed under the Affiliate Resources tab on the OEA website.
ALL IN FOR OHIO KIDS: Expansion of Unaccountable Vouchers Undercuts Progress on School Funding
Ohio Organizing Collaborative Co-Executive Director Molly Shack, Policy Matters Ohio Executive Director Hannah Halbert, Ohio Federation of Teachers President Melissa Cropper, and Ohio Education Association President Scott DiMauro released the following joint statement:
“Ohio students deserve fully funded, high quality, local public schools that help them reach their fullest potential, and it is the responsibility of our state legislators to enact a system that achieves this.
Legislators in the Ohio House took this responsibility seriously by passing a budget that increases state funding to public schools by nearly $1 billion and continues Ohio’s progress toward a full phase in of the Fair School Funding Plan – a funding formula based on what it actually costs school districts to educate their students. They also ensured that the data being used in that funding formula is current and accounts for the additional costs of educating students with disabilities and students who are learning the English language.
It is a monumental step forward that the House’s school funding commitment will be enacted in this budget, despite attempts by the Senate majority to cut more than $500 million from our schools. After decades of non-compliance with Ohio Supreme Court rulings, the legislature is on the brink of finally meeting its constitutional responsibility to fairly fund Ohio’s public schools.
Despite these gains, we have serious concerns with the General Assembly’s expansion of unaccountable private school vouchers. The legislature’s new universal private school voucher scheme will ensure that state support for our public schools will be diminished to pay for tuition for private school students, no matter how wealthy their family is or how their school performs. Priority should be given to fully implementing the Fair School Funding Plan so that our public schools, where 90 percent of students attend school, receive the resources they need instead of expanding unaccountable private school vouchers. As educators, parents, students, and taxpayers we will be unwavering in reminding Ohio’s elected officials where their responsibility lies.
We are also deeply concerned by the inclusion of SB 1 in this budget. This radical policy change puts more power in the hands of an appointed partisan official while taking away the ability to make important decisions that impact schools in Ohio from non-partisan, elected State Board of Education members. Ultimately, the changes in SB1 will silence the voice of educators and voters when making rules and policies that impact education policy in Ohio. When education issues become divisive partisan battles, Ohio students suffer the consequences.”
All in for Ohio Kids represents a broad group of concerned organizations and individuals who are working together to fully and fairly fund our schools.