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September 2022 OEA Retirement Systems Update

September 2022 OEA Retirement Systems Update

SERS Approves 2.5% COLA

SERS logoAt its Board meeting on Thursday, September 15, 2022, the SERS Board unanimously approved a 2.5% cost-of-living allowance (COLA) for calendar year 2023. State statute provides for an annual COLA based on the federal cost of living index capped at 2.5%. However, the SERS Board has discretion to go above that level based on determination of the Board’s actuary about the impact on the funding of the pension plan.

In discussion among the Board members, several expressed reservations about going above the 2.5% level. This was based on the funding of the pension plan being under 80%, poor investment returns during fiscal year 2022 and in the first few months of fiscal year 2023. While acknowledging the high level of inflation that retirees are dealing with, several expressed that it would be better to have incremental increases each year rather than a higher increase followed by another freeze in the COLA.

STRS Boards Reviews Fiduciary Audit

Image: STRS LogoAt its Board meeting on Thursday, September 15, 2022, the STRS Board received an update on the fiduciary performance audit. The Ohio Retirement Study Council engaged Funston Advisory Services to perform a thorough review of STRS policies, procedures, reporting and operations. The report was completed in June of this year.

Major findings of the fiduciary audit showed that STRS has been effectively fulfilling its fiduciary duties; that STRS investment performance is in the top quartile of retirement systems in the country and that member services are a top performer with low costs relative to peer systems. While there were no “red flags” revealed in the audit, there were over 170 recommendations for improvements. At the STRS Board meeting in November, the Board will receive a progress report on implementation of the recommendations with further discussion or action on issues of board policy and governance.

Also, during the September meeting, the Board passed a motion to post meeting materials to the public two days in advance of future board meetings. Motions to have live video streaming of board meetings and consideration of Saturday board meetings were postponed for consideration at the November meeting.

OPERS Health Care Fund Increases Solvency Period

OPERS logo

During the August meeting of the OPERS Board, the system’s actuarial firm, Gabriel Roeder, Smith & Co., presented the expected solvency of the OPERS Health Care Fund. The solvency period increased to 29 years in 2021. This was a increase of four years compared to the previous valuation.

Further projections from the actuary show that approximately 2% of pay in employer contributions would be needed to fund the projected retiree health care benefits indefinitely. Currently, all of the available employer contributions are allocated to the pension plan. Absent any future contributions, the projections show the fund running out of money in 2051.

 

PDF Print LogoClick here to download a copy of this September 2022 Report to the OEA Board of Directors. Previous Retirement Systems Updates can be viewed under the Affiliate Resources tab on the OEA website.

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OEA celebrates advocacy wins in new state report card system

[September 15, 2022] As families and education stakeholders around the state continue to examine the newly released state report card data, the Ohio Education Association (OEA) is celebrating the hard work of Ohio’s dedicated educators to support the state’s students as they continue to overcome the challenges of pandemic-era learning. Further, OEA expresses its sincere gratitude to the lawmakers who answered OEA’s calls for report card reform, resulting in the fairer assessments that were made public today.

“OEA has long fought against the overreliance on high stakes standardized tests in determining the value and success of Ohio’s public schools and students. The adoption of House Bill 82 in 2021 and other recently enacted laws that resulted in the significant changes in this year’s state report cards represent an incredibly important win in that regard,” OEA President Scott DiMauro said. “Gone are the misleading A-F grades, which gave an incomplete picture of a district’s performance at best. Gone are the draconian punishments for districts that failed to measure up to the cookie cutter standards of out-of-touch bureaucrats who clung to the report card letter grades to trigger state takeovers and wrest control from local parents and voters. Here to stay is a commitment to a more accurate and transparent assessment system for Ohio’s public schools.”

Among the trends highlighted by this accountability system, it is clear that Ohio’s traditional public schools continue to best serve the students in their communities. This year’s data demonstrates that the average achievement component score for the state’s traditional public school districts is 3.5 stars compared to the 1.7 star rating achieved, on average, by charter schools in the state on that same metric.

While more work is needed to further improve the state’s report card system, including major changes to improve accountability standards for Ohio’s charter schools and the private schools that take taxpayer-funded vouchers, OEA celebrates the move to a more informative star-rating system in this year’s report cards, complete with explanations about what the stars mean to provide the public with critical context. Further, OEA welcomes the inclusion of Student Opportunity Profiles in the 2022-2023 data that will be released next September. Those profiles will provide detailed information regarding what students have been offered to enhance their success. Academic and non-academic supports are essential for our students, especially as pandemic recovery continues.

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OEA members recommend pro-public education candidates for statewide, legislative races

[September 7, 2022] Decisions made in Ohio’s statehouse and by other elected officials impact what happens in our public-school classrooms every day. Ohio Education Association members have spent the last several months interviewing candidates in political races around the state to make recommendations about who will best serve Ohio’s students, educators, and public schools if elected to office. The full list of OEA member-recommended candidates is now available here.

Among the many recommendations made by OEA members who serve on the OEA Fund State Council and District Screening Committees, Democratic gubernatorial candidate Nan Whaley has received OEA’s recommendation. “Whaley was instrumental in the Senate Bill 5 fight in 2011, serving as a key voice in the effort to protect collective bargaining rights in Ohio. As Dayton’s mayor, she was able to implement universal pre-K across the city and championed gun safety reforms that would make our schools safer,” OEA President Scott DiMauro noted. “Ohio needs Nan Whaley as governor.”

OEA members have also voted to recommend Representative Tim Ryan for U.S. Senate and Justice Jennifer Brunner, Judge Marilyn Zayas, and Judge Terri Jamison for the Ohio Supreme Court. Other OEA member recommendations include Representative Jeff Crossman in the race for Attorney General, and Mayor Scott Schertzer in his bid for Treasurer of State.

In races for the General Assembly, OEA members are recommending several educators-turned-candidates, including State Representative Joe Miller (D-53), Sean Brennan for House District 14, and Sophia Rodriguez for House District 84. “When educators represent us in the statehouse, Ohio’s students win. These candidates know better than anyone what our students need to succeed and how lawmakers can provide meaningful support for our public schools. They also know firsthand how damaging bills dragging our schools into manufactured culture wars have already been, so their voices in the ongoing battle to ensure our students have the freedom to receive a fair and honest education will be crucial,” DiMauro said.

The decisions about who to recommend for office are made entirely based on the candidates’ views on public education issues, or in the case of an incumbent candidate, on their record regarding public education issues. Political affiliation and views on other issues are not factors in these recommendations. “OEA members know having pro-public education leaders in office is essential for the future of our public schools,” DiMauro said. “We thank all of the members who have dedicated so much of their time and energy to the candidate screening process to ensure the best pro-public education candidates receive Ohio educators’ support.”

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ACTION ALERT Urge your State Representative to Oppose SB 83

RESOURCES

OEA Wellness Resources

Resources from NEA 

Read Across America

Ohio Schools Magazine digital editions

PRESS RELEASES

LEGISLATIVE WATCH RELEASES

  • September 12, 2024 – This is our chance to end GPO-WEP
  • August 23, 2024 – OEA Applauds State Controlling Board Decision to Approve Full Funding for the State Board of Education
  • August 9, 2024 – U.S. Senator Sherrod Brown Calls for Vote on Repeal of GPO/WEP
  • July 2, 2024 – Senate Bill 83 Stalls Out Before Legislative Recess; Take Action to Stop Teacher License Fee Increase; House Bill 214 – Professional Conduct Policies; Senate Bill 104 – Transgender Bathroom Restrictions Amended into CCP Bill; Senate Bill 168 – Various Education Regulation Provisions
  • Legislative Watch archive
  • Legislative Scorecard – An interactive Legislative scorecard for each member of the Ohio General Assembly

EVENTS

  • October 23 – Moving from Land Acknowledgements to Action in the Buckeye State
  • October 26-27 – Bargaining Boot Camp – Southwest (this event has reached capacity)
  • November 2-3 – Bargaining Boot Camp – Northeast (this event has reached capacity)
  • November 9-10 – Bargaining Boot Camp – Central (this event has reached capacity)
  • November 15 – Cleveland CAVs vs Chicago Bulls
  • November 18 – OEA Virtual Trivia Night
  • November 19 – OEA New President Power Hour: Advocacy and representing your members
  • November 23-24 – Bargaining Boot Camp – Northwest (this event has reached capacity)
  • December 10 – CBJ vs Philadelphia Flyers
  • December 12 – CBJ vs Washington Capitals
  • December 14 – CBJ vs Anaheim Ducks
  • January 21 – OEA New President Power Hour: Helpful tips for successful negotiations
  • January 25 – Cleveland CAVs vs Houston Rockets
  • January 25-26 – AE ONE Annual Conference
  • February 2 – Cleveland CAVs vs Dallas Mavericks
  • February 18 – OEA New President Power Hour: Best practices in communicating with your members and the community
  • February 21 – Cleveland CAVs vs New York Knicks
  • March 2 – Cleveland CAVs vs Portland Trail Blazers
  • March 18 – OEA New President Power Hour: Your voice in the OEA Democratic Structure and resources available to you and your members
  • April 15 – OEA New President Power Hour: “What If” Sharing problem-solving strategies

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Ohio Education Association Candidate Recommendations

Ohio’s General Election is on Tuesday, November 5, 2024. Make sure educators voices are heard this November by making your plan to vote. Please see below for some important dates and links for information on voting in the upcoming General Election.

Important Dates

  • Monday, October 7, 2024 – Deadline to register to vote and update registrations in advance of the General Election Boards of Election will be open until 9:00 PM for individuals to drop off registrations. See below links for how to check your registration status, register to vote, or update your registration online.
  • Tuesday, October 8, 2024 – Early voting for the 2024 General Election begins. See links below for in-person early voting locations, dates, and times.
  • Monday, November 4, 2024 – Absentee ballots must be postmarked by this date if returned by mail.
  • Tuesday, November 5, 2024 – General Election: Polls are open from 6:30 AM to 7:30 PM and absentee ballots may be returned by 7:30 PM to your Board of Elections if not returned by mail.

Important Links

  • To check your registration status, please click here.
  • To register or update your registration, please click here.
  • To find your county’s early voting location, please click here.
  • To find the schedule for early in-person voting, please click here.
  • To find out how to request a mail in ballot and vote by mail, please click here.

Click here to look up your current legislative district under the latest state maps.

As part of your voting plan, we urge all OEA members to check out the list of candidates recommended by the OEA members below. Many more candidate recommendations will be made after the Primary, so please continue to check for updates.

It is important to note that OEA members across the state—not OEA staff or leaders—make all the endorsement decisions. In each race, candidates from both parties are asked to fill out questionnaires describing their positions on education issues, and those who are state officeholders are also rated on their education votes in the General Assembly. Candidates are then interviewed by OEA members who work in the district or area in which candidates are seeking office. Based on the candidate’s views on public education issues—and only on public education issues—the OEA Fund State Council and District Screening Committees vote on whether to endorse specific candidates.

You can learn more about the OEA Fund and the screening process here.

**If viewing the recommended candidates list on a mobile phone or small screen, please rotate your device to a horizontal orientation for better viewing.**


 

President and Vice-President Kamala Harris (D)/Tim Walz (D)
US Senate Recommended Candidate
US Senate – OH Sherrod Brown (D)
Judicial Seat  
Associate Justice of the OH Supreme Court Melody Stewart (D)
Associate Justice of the OH Supreme Court Michael Donnelly (D)
Associate Justice of the OH Supreme Court (Unexpired Term) Lisa Forbes (D)
Ohio House Recommended Candidate
District 1 Dontavius Jarrells (D)
District 2 Latyna Humphrey (D)
District 3 Ismail Mohamed (D)
District 4 Beryl Brown Piccolantonio (D)
District 5 Meredith Lawson-Rowe (D)
District 6 Christine Cockley (D)
District 7 Allison Russo (D)
District 8 Anita Somani (D)
District 9 Munira Abdullahi (D)
District 10 Mark Sigrist (D)
District 11 Crystal Lett (D)
District 12 Brad Cotton (D)
District 13 Tristan Rader (D)
District 14 Sean Brennan (D)
District 15 Chris Glassburn (D)
District 16 Bride Rose Sweeney (D)
District 17 No Position
District 18 Juanita Brent (D)
District 19 Phil Robinson (D)
District 20 Terrence Upchurch (D)
District 21 Eric Synenberg (D)
District 22 Darnell Brewer (D)
District 23 Daniel Troy (D)
District 24 Dani Isaacsohn (D)
District 25 Cecil Thomas (D)
District 26 Sedrick Denson (D)
District 27 Rachel Baker (D)
District 28 Karen Brownlee (D)
District 29 Cindy Abrams (R)
District 30 Stefanie Hawk (D)
District 31 Bill Roemer (R)
District 32 No Position
District 33 Veronica Sims (D)
District 34 Derrick Hall (D)
District 35 Mark Curits (D)
District 36 No Position
District 37 No Position
District 38 No Position
District 39 No Position
District 40 No Position
District 41 Erika White (D)
District 42 Elgin Rogers, Jr. (D)
District 43 Michele Grim (D)
District 44 David Blythe (D)
District 45 No Position
District 46 Benjamin McCall (D)
District 47 Vanessa Cummings (D)
District 48 Scott Oelslager (R)
District 49 Krista L. Allison (D)
District 50 Matthew Kishman (R)
District 51 No Position
District 52 Gayle Manning (R)
District 53 Joe Miller (D)
District 54 No Position
District 55 Laura Davis (D)
District 56 Cleveland Canova (D)
District 57 Jamie Callender (R)
District 58 Lauren McNally (D)
District 59 No Position
District 60 Rachael Morocco (D)
District 61 David Hagan (D)
District 62 Katie Vockell (D)
District 63 No Position
District 64 Lauren Mathews (D)
District 65 No Position
District 66 No Position
District 67 No Position
District 68 No Position
District 69 Jamie Hough (D)
District 70 No Position
District 71 No Position
District 72 Nathaniel Adams (D)
District 73 No Position
District 74 No Position
District 75 Haraz Ghanbari (R)
District 76 No Position
District 77 No Position
District 78 No Position
District 79 Monica Robb Blasdel (R)
District 80 No Position
District 81 James Hoops (R)
District 82 No Position
District 83 No Position
District 84 Arienne Childrey (D)
District 85 No Position
District 86 Tracy Richardson (R)
District 87 No Position
District 88 No Position
District 89 No Position
District 90 Justin Pizzulli (R)
District 91 No Position
District 92 Mark Johnson (R)
District 93 Jason Stephens (R)
District 94 Wenda Sheard (D)
District 95 Don Jones (R)
District 96 No Position
District 97 No Position
District 98 No Position
District 99 Louis Murphy (D)
Ohio Senate Recommended Candidate
District 2 Paloma De La Fuente (D)
District 4 Thomas Cooke (D)
District 6 Willis Blackshear (D)
District 8 Louis Blessing, III (R)
District 10 Daniel McGregor (D)
District 12 No Position
District 14 Shane Marcum (D)
District 16 Beth Liston (D)
District 18 Katie O’Neill (D)
District 20 No Position
District 22 No Position
District 24 Tom Patton (D)
District 26 Mohamud Juma (D)
District 28 Casey Weinstein (D)
District 30 Iva Faber (D)
District 32 Michael Shrodek (D)
District 33 No Position
U.S. Congress Recommended Candidate
District 1 Greg Landsman (D)
District 2  
District 3 Joyce Beatty (D)
District 4  
District 5  
District 6  
District 7  
District 8  
District 9 Marcy Kaptur (D)
District 10  
District 11 Shontel Brown (D)
District 12  
District 13 Emilia Sykes (D)
District 14  
District 15 Adam Miller (D)
State Board of Education Recommended Candidate
SBOE 1 Kristie Reighard
SBOE 5 Mary Binegar
SBOE 6 Chris Orban
SBOE 7 Rhonda Johnson
SBOE 8 Karen Lloyd
SBOE 11 Delores Ford

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OEA 175th Anniversary Video

Since 1847, the Ohio Education Association has been proud to lead the way for great public schools for every child. As OEA marks its 175th anniversary, members and leaders have been sharing their memories from the last several decades of serving Ohio’s students and fighting for the teaching and learning conditions all Ohioans deserve.

From the hard-won fight for collective bargaining rights in Ohio to the ongoing struggle to secure fair funding for all of our schools, these stories have been brought together in this short film.

We invite you to watch and reminisce along with the dedicated educators who have shared their perspectives in this video. As we contemplate our collective past, we are empowered to create a brighter future together for all Ohio students:

 

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June 2022 OEA Retirement Systems Update

ORSC Reviews Retirement Systems’ Investment Performance

The Ohio Retirement Study Council (ORSC) is a legislative body that provides oversight for Ohio’s public retirement plans. On May 12, 2022, the ORSC received a review of the pension systems’ investment performance by Jim Voytko, president of RVK, the council’s investment consultant.

The results showed very strong returns, net of fees, for OPERS, SERS, and STRS over the 2021 calendar year. During this period, STRS posted the highest return with 19.24%, followed by SERS with 17.13% and OPERS with 15.34%. Below is a chart that shows the net return for each of the three systems over a one, three, five, seven, and 10-year period.

System 1 year 3 years 5 years 7 years  10 years
OPERS 15.34 14.84 11.41 9.32 10.08
SERS 17.13 15.48 11.99 9.89 10.48
STRS 19.24 16.51 12.42 10.30 11.04

Compared to pension plans across the United States, the Ohio systems performed better than most public plans with at least $1 billion in assets. These comparisons were made on gross returns because net return data is not available for all funds.

ORSC Chair Representative Phil Plummer (R- Dayton) asked Voytko to respond to concerns that STRS investment performance is particularly bad. He responded that there is no data to support those claims. “If you look at their performance versus their benchmarks…they have done well. And if you look at their returns against a large number of other public pension plans, they rank anywhere from the top quartile to top decile,” Voytko said. “There’s no number here in any form that would lead me to that conclusion” that STRS had performed badly.

2021 Investment Returns Improve OPERS Funding Status

At the May OPERS Board meeting, OPERS staff gave a review of the system’s 2021 investment returns and funding status. The OPERS Defined Benefit portfolio posted an investment return of over 15% for 2021. The overall funding of the pension plan improved from 82% to 84%.

The funding period of the pension plan represents the amount of time it would take to pay off the unfunded liabilities (reach 100% funded) if all current assumptions were met. Based on the financial status of the plan at the end of calendar year 2021, the funding period of the OPERS plan was 16 years. This represents an improvement from a funding period of 21 years at the end of 2020.

PDF Print LogoClick here to download a copy of this June 2022 Report to the OEA Board of Directors. Previous Retirement Systems Updates can be viewed under the Affiliate Resources tab on the OEA website.

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May 2022 OEA Retirement Systems Update

STRS Board Increases Health Care Subsidies for Retirees and Makes Plan Improvements

Image: STRS Logo

At its April meeting, the STRS Board approved an increase in health care premium subsidies for retirees and made several improvements to the health care program. These changes will lower costs for STRS retirees. Plan changes will go into effect on January 1, 2023.

The Board voted to increase the premium subsidy to 2.2% per year of service from 2.1% per year of service (up to 30 years maximum). For retirees with 30 or more years of service this means that STRS would pay 66% of the monthly premium, up from 63%. Additionally, the current Medicare Part B reimbursement will be converted to a premium credit of $30 and will now be applied to eligible surviving spouses who do not currently receive the reimbursement.

Changes in plan design include: a decrease in the maximum out-of-pocket drug costs to $4,000 from $5,100; improvement to the primary care physician copay in the Medical Mutual and Aetna Basic plans to a $20 copay for each visit; and a change in the pharmacy network that will reduce costs by $2.4 million a year. Savings from the change in the pharmacy network will be used to lower member premiums.

Health care premiums will be approved at the June meeting. However, initial estimates show over a 14% reduction in the premium for the Aetna Medicare Advantage plan and a slight increase of 1% in the most popular plan for pre-65 retirees. When factoring in the change in subsidies, a retiree with 30 or more years of service is projected to pay $23 less a month in the Medicare Advantage plan and $30 less a month in the most popular pre-Medicare plans.

Portrait: OEA-endorsed Beverly WoolridgeSERS to Extend Health Care Contracts

At its March meeting, the SERS Board approved recommendations to extend contracts with Aetna to provide Medicare Advantage PPO and non-Medicare services to SERS retirees. Buck consulting, which reviewed SERS medical plans, concluded that the current program structure was financially positive, and that SERS should re-negotiate with the provider for cost savings. SERS is expected to realize $21.5 million in savings over the length of a new five-year contract. Additionally, Aetna agreed to no increase in administrative fees for the duration of the contract.

At its April meeting, the SERS Board directed staff to negotiate a new three-year contract with Express Scripts to provide pharmacy management services. Express Scripts has provided these services to SERS since 2008 and offered the lowest net pricing of five respondents to a request for proposals.

PDF Print LogoClick here to download a copy of this May 2022 Report to the OEA Board of Directors. Previous Retirement Systems Updates can be viewed under the Affiliate Resources tab on the OEA website.

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April – May 2022 Ohio Schools

  • COVER STORY: Prioritizing Student Health – When COVID-19 threatened those under his care, district school nurse David Pryer made sure Allen East students, teachers, and staff could return to school safely
  • MAKING THE GRADE
    • Oberlin’s Kurt Russell Named Finalist for 2022 National Teacher of the Year
  • Association
    • OEA to Hold In-Person 2022 Spring Representative Assembly with Virtual Component on May 7
    • Candidates of OEA Statewide Election
    • Proposed Amendments to the OEA Amended and Restated Constitution and Bylaws Spring 2022

    Moved recently? Contact the OEA Member Hotline to update the address on file at 1-844-OEA-Info (1-844-632-4636) or email, membership@ohea.org. Representatives are available Monday-Friday, from 8:30 a.m. to 6 p.m. | OhioSchoolsPast Issues

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OEA denounces House Bill 616

[April 5, 2022] The Ohio Education Association (OEA) condemns in the strongest terms possible House Bill 616, which was introduced Monday as an attempt to double-down on the worst parts of Ohio House Bill 327, the anti-freedom ‘divisive concepts bill,’ by adding the worst parts of Florida’s ‘Don’t Say Gay’ bill into the new proposed language. OEA believes HB 616 is reprehensible on every level.

“These politicians are continuing to use race and sexual orientation as wedge issues to score cheap political points, and they should be ashamed of themselves,” OEA President Scott DiMauro said. “Rather than persisting with these disingenuous attacks on educators and public schools, we need pro-public education policies that enable students to think critically about the world around them and empower them to be proud of who they are, regardless of where they come from, what they look like, how they express their gender identities, or who they – or their parents – love.”

“House Bill 616 represents yet another example of how a national network of extremists is seeking to hijack the education conversation in our state to control a political narrative and distract Ohioans from the real issues facing our public schools,” DiMauro added. “The architects of this bill, who have decided to copy and paste some of the most damaging parts of Florida’s ultra-divisive legislation, are targeting some of Ohio’s most vulnerable students and families and setting Ohio up for a Florida-like showdown with the businesses our state leaders have been working so hard to attract.”

“Why would Ohio want to follow in Florida’s footsteps after it forced a showdown with Disney, one of the state’s biggest employers?” DiMauro questioned. “HB 616 is exactly the kind of legislation that could send Intel and other major employers running, hurting our students’ future job prospects for decades to come.”

HB 616 would also have a serious chilling effect on Ohio’s education profession, which is already facing a recruitment crisis. At a time when it has become increasingly difficult to attract new educators to our classrooms to ensure the adequate staffing levels our students need to receive a world-class education, Ohio lawmakers are sending exactly the wrong message to the state’s education workforce. “Our students and educators cannot be pawns in these ongoing political games,” DiMauro said. “House Bill 616 would have grave consequences for Ohio’s children, public schools, and wider economy. We all deserve better.”

 

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