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Ohio Retirement for Teachers Association

Fighting for Ohio's teachers since 1947!

ORTA advocates for the pensions and benefits of Ohio's active and retired educators; demands accountability from the State Teachers Retirement System of Ohio; and lobbies Ohio's legislators to provide a strong and sustainable retirement system for all Ohio educators, Pre-K through higher education. We rely on membership dues to continue our work.

How has the loss of a COLA impacted your retirement?

Since January 2013, approximately 51,500 retirees have died without seeing the inflation protection they planned for. Share how difficult it is to retire without a COLA and how it has impacted your retirement.

Featured Post!

Senate Bill 69 - Legislators, Pay Attention!

It’s time to take action for Ohio’s teachers and Ohio’s economy. It’s time to care and do what is right. 

 

This letter addresses Senate Bill 69, sponsored by Senator Mark Romanchuk, Chairman of the Ohio Retirement Study Council (ORSC). The bill states, “To declare the General Assembly's intent to enact legislation to reform the law governing the state's public retirement systems.” The bill currently appears to be placeholder legislation. The Ohio Retirement for Teachers Association has a singular suggestion for legislation. This singular suggestion is predicated on the ORSC supporting the suggestions in Ohio Auditor Keith Faber’s report, released on December 29, 2022. Specifically, pension investments need to have more transparency. Non-disclosure agreements should be addressed by “removing trade secret provisions that shield investment decisions from further scrutiny.” Additionally, Auditor Faber stated, “That means fully disclosing how these funds are being invested and the returns or losses on those investments.” These obvious suggestions should be applied to Ohio’s five pension plans.

 

The STRS pension system pays out approximately $7.6 billion in benefits. Approximately half of these benefits are funded by Employee and Employer Contributions; investment returns must make up the other half. A pension plan depending on annual investment returns of $3.8 billion is risky and jeopardizes the long-term health of the pension system. This gap between known revenue and known expenses drastically impacts the ability to pay basic elements of a public pension system, such as cost-of-living adjustments. 

 

In 2012, after a market downturn, legislation was submitted to the ORSC to reduce benefits promised to members. These reduced benefits were intended to save the pension $11 billion. Included in this legislation was a 40% increase in the employee contribution. An increase in the employer contribution was initially part of the plan, but in the end, the employer contribution was withdrawn and an additional 2% contribution was added to the employee contribution. It is worth mentioning that the employer contribution has not increased in 41 years. These four decades of stagnant employer contributions create a conflict with Ohio laws. In a defined benefit plan, Ohio collects monies from members and invests them for their future, and they are supposed to assume all the risks. The financial shortfalls are supposed to fall on the employer, not the employee. This is addressed in Ohio’s codes, see ORC 3307.14(E)

 

Currently, STRS retirees are not promised inflation protection. They cannot sacrifice anything more to help the pension’s cash flow problem. The problem is obvious. Ohio is not responsibly funding the STRS pension system. Boston College highlighted this problem in their public pension research when they identified Ohio STRS as the only pension plan in the United States with a negative Normal Cost. In other non-Social Security States, the Employer Contribution rate averages 30%, while in Ohio, it is frozen at 14%. 

 

The ORSC always gives the STRS investment staff accolades for being in the top percentile of investment performance. However, the staff is always under scrutiny from members and the press due to being the outliner and not even being able to pay retirees a simple 2% COLA that was reduced 13 years ago from a simple 3% COLA. A significant problem is that the State underfunds the STRS pension.

 

STRS consultants Meketa and Global Governance Advisors have publicly stated STRS’s biggest problem is not a performance problem but a legislative one. Crowe, STRS’s independent auditor consultant, suggests the pension funds status is vulnerable due to market fluctuations and “a fixed employer contribution rate at the statutory maximum.” Outside sources share with members and staff that STRS Ohio might be the only pension system they know that doesn’t have a variable employer contribution rate and is drastically underfunded. The problem is obvious. In non-Social Security states where retirees rely upon the State to provide a COLA, Ohio’s employer contribution rate lags by 100%. 

 

Ohio’s fiscal budget is being addressed. Legislators should address this ongoing problem that has been creating negative news stories for over a decade. The public will be watching. STRS Ohio members number more than half a million, many millions if you include family members. Legislators need to know that any employer contribution rate will return money to Ohio’s economy and improve it. It’s time to take action for Ohio’s teachers and Ohio’s economy. It’s time to care and do what is right. 

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Dean Dennis, Chair
ORTA Executive Committee

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In spring 2025, STRS Ohio will hold an election for two contributing member seats and one retired member seat on the STRS Ohio Retirement Board.

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ORTA is endorsing Rudy Fichtenbaum for re-election to the retired seat. Fichtenbaum is currently serving as the Chair of the STRS Ohio Board.

 

ORTA is endorsing Michael Harkness and Chad Smith for the two contributing seats. Harkness, who is currently seated on the Board, replaced Steve Foreman, who resigned from the Board in June.ā€‹ā€‹ā€‹

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ā€‹AMBA Webinars: 2025

 

ORTA has partnered with AMBA to offer a series of short webinars about important topics like long term care, Medicare, medical transportation, and more. The talks are educational and informative. Retirees often tell us that they are thankful for the overview and knowledge they gain. Join us for the next one, and invite a friend! ā€‹There is no cost to attend these events, but registration is required. Each webinar begins with an ORTA update by Robin Rayfield, Executive Director.ā€‹ā€‹ā€‹

Educators Professional Liability Insurance

Protect your reputation and your career today with professional liability coverage.

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Become a member of ORTA and qualify for the new Educators Professional Liability Policy provided through our trusted benefits partner, AMBA.

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Visit AMBA Benefits and apply online today.

Professional Liability Insurance AMBA ORTA
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Pension Defense Fund Update!

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ORTA launched the Pension Defense Fund in May of 2023. This fund was established to collect and hold for disbursement financial resources for activities that would advance ORTA mission to protect pensions of STRS members. The impetus for the establishment of this fund was Governor DeWine’s illegal removal of Wade Steen from the STRS Pension Board.

 

ORTA collected over $87,000 that paid the legal fees of Wade Steen in his successful challenge to be reinstated to the STRS Board. As soon as Mr. Steen returned to his seat by the appellate court, the governor and Attorney General Yost launched a new attack on STRS board members Steen and Fichtenbaum. On the basis of an anonymous letter from STRS staff, Mr. Yost has attacked reform board members Steen and Fichtenbaum. Despite the fact that Mr. Steen’s term expired in September, Mr. Yost’s persecution of both Steen and Fichtenbaum continues. ORTA’s pension defense fund has, again, stepped forward to protect these two outstanding men. Thus far ORTA’s expenses in defense of reform at STRS are as follows:

 

Mr. Steen’s case to reclaim his legal seat on the STRS board - $87,368.28

 

Mr. Fichtenbaum’s defense of the attack by the A.G. - $35,869.00

 

The pension defense fund continues to collect donations towards this worthy cause. Without Steen and Fichtenbaum none of the reforms that have occurred would have been possible.

 

The 3% COLA granted in 2022, and the 1% COLA granted the following year would never have occurred without Rudy and Wade’s leadership. The promised supplemental benefit for December of this year would never have been put forward without their leadership. The exit of the executive director and the acting executive director would not have happened without reform minded men such as these. ORTA needs your help to continue to fight the legal challenges from state officials that are opposed to reform at our pension. ORTA urges you to consider donating to the Pension Defense Fund.

 

You can donate online or send a check to ORTA Pension Defense Fund at
250 E. Wilson Bridge Road
Suite 150
Worthington, Ohio 43085.

 

Also, it is important to note that Wade Steen has taken legal action to get reimbursed for his expenses in his Quo Warrento (getting reinstated to his rightful seat on the STRS board) case. I am unsure how long such an action takes but the process has begun.

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Robin Rayfield, Executive Director
November 2024

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ORTA advocates for the pensions and benefits of Ohio's educators, demands accountability from STRS Ohio, and lobbies Ohio's legislators to provide a strong and sustainable retirement system. We rely on membership dues to continue our work.

Chapter scholarships

Chapter Grants & Scholaships

Many ORTA chapters offer classroom grants, continuing education scholarships, and scholarships for graduating seniors.

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Use the list of ORTA Chapters to find out if your local chapter offers grants and scholarships.

Classroom grants
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STRS Ohio Board member Rudy Fichtenbaum, and former Board member Wade Steen, are incurring legal fees, defending themselves against the lawsuit brought against them by A.G. Dave Yost. ORTA will use donations from the Pension Defense Fund to help them, if needed, pay their legal expenses. They have volunteered their time to support Ohio's teachers. Now it's time for us to show our support for them! Make a donation today to the ORTA Pension Defense Fund

Contact Us

250 E. Wilson Bridge Road

Suite 150

Worthington, Ohio 43085

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ā€‹Phone: 614-431-7002

Email: publications@orta.org

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