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Showing posts from May, 2016

April Board News

(The text below is reprinted from the news release by STRS) Board Approves Health Care Program Changes for 2017; Long-Term Health Care Funding Discussions to Continue At its April meeting, the State Teachers Retirement Board approved changes for the 2017 health care program that are designed to help reduce STRS Ohio’s long-term plan costs and extend the solvency of the health care fund. Due to increasing claims costs and the lack of a dedicated source of funding, STRS Ohio is facing significant health care funding challenges. The approved changes do not provide a long-term funding solution for the health care fund. The changes are projected to extend the solvency of the health care fund by two to three years beyond the projected 15-year solvency period reported last month in Segal Consulting’s annual actuarial valuation. The board is exploring long-term funding solutions for the health care program that would allow STRS Ohio to continue a health care program that is of value to membe…