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Showing posts from October, 2015

September Board News

(The text below is reprinted from the news release by STRS) Board Reviews Key Data Trends — Summer 2015 was Peak for Retirements During the September meeting of the State Teachers Retirement Board, STRS Ohio staff presented developing data trends and shared that the 2015 retirement season was the retirement system’s busiest ever. The number of new benefit recipients slightly surpassed the previous high from 2013. The total number of retirements in 2015 was higher and earlier than expected and means STRS Ohio will pay retirement benefits longer than expected. The board’s actuary, Segal Consulting, will determine the impact of the 2015 retirement experience and include it in the pension valuation report that will be presented at next month’s board meeting. STRS Ohio processed the increased volume of retirements without adding staff — thanks in part to a web-based retirement application that has improved the accuracy of information the system received from retiring members. Other key ta…