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30 Μαρ 2022 · Effective July 1, 2022, eligibility criteria for unreduced and reduced benefits are as follows: Retirement Dates. Unreduced Benefit (Minimum Age and Years of Service) Reduced Benefit. (Minimum Age and Years of Service) Aug. 1, 2021–July 1, 2023. Any age and 34 years; or age 65 and 5 years.
- STRS Ohio Update for Reporting Employers
The following changes, which benefit both active and retired...
- STRS Ohio Update for Reporting Employers
Retirement Eligibility Changes Announced April 2, 2024. The current retirement eligibility rule requiring 34 years of service for an unreduced retirement benefit under the Defined Benefit Plan has been made permanent. The requirement was previously scheduled to increase to 35 years of service on Aug. 1, 2028.
This improvement of the retirement eligibility requirements means that thousands of members will be eligible for an unreduced benefit at an earlier age. Effective July 1, 2022, eligibility criteria for unreduced and reduced benefits are as follows:
The following changes, which benefit both active and retired members, will take effect July 1, 2022. For retired members: A one-time 3% cost-of-living increase (COLA) will be paid to eligible benefit recipients.
14 Απρ 2022 · Defined Contribution Plan and Combined Plan participants who were hired as new members between July 1, 2017, and June 30, 2018, are now eligible to change STRS Ohio retirement plans. Members eligible for reselection during this period have until June 1, 2022, to indicate a plan selection.
18 Μαρ 2022 · The approved changes take effect on July 1, 2022, and include: A one-time 3% cost-of-living increase (COLA) will be paid to eligible benefit recipients. The COLA will be implemented as applied under current Ohio statute — that is:
In March 2022, the State Teachers Retirement Board approved a 3% cost-of-living adjustment (COLA) to eligible benefit recipients for fiscal year 2023, effective July 1, 2022. An increase of 3% will be added to the base benefit on the retirement date anniversary and each month thereafter.