Kevin Kroskey's Ohio Faculty Advisor

(The text below is reprinted from the news release by STRS on December 16, 2016)   Preliminary Results of Five-Year Experience Review Indicate Possible Need for Benefit Plan Design Changes At the December meeting of the State Teachers Retirement Board, actuarial consultant Segal Consulting presented the preliminary results of the experience study it is conducting for STRS Ohio. An experience study is typically completed every five years to compare the system’s economic and demographic assumptions to the actual experience. The economic assumptions include the rate of inflation, salary increases, overall payroll growth and the investment return on assets. Demographic measures include retirements, disability inceptions, withdrawals and the number of deaths among active members and benefit recipients. Segal reviews past experience and tries to determine trends to help set long-term assumptions for the future. Segal’s role is to make appropriate “best estimate” recommendations to ...