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Showing posts from September, 2010

STRS September Board News Details

(The text below is reprinted from the news release by STRS on 9/17/10.) HILL AND PRICE TAKE SEATS AT BOARD TABLE Mark Hill and Dale Price began their four-year terms on the State Teachers Retirement Board this September, following their election to the board last spring. BOARD BEGINS HEALTH CARE STRATEGIC PLANNING DISCUSSION As noted in previous STRS Ohio communications, funding for the STRS Ohio Health Care Program will be depleted by 2021. At the September 2010 meeting, the Retirement Board and staff began a review of the history and current status of the health care program as the first step in developing a strategic plan for retiree health care for adoption next spring. When the STRS Ohio Health Care Program began in 1974, health care costs were insignificant compared to today. Just as an example, the limit for lifetime health care benefits for an enrollee was just $20,000. In 2010, the lifetime coverage is $2.5 million and it will be unlimited in 2011. During the last 20