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Welcome
to the Website for the Richland County Retired Teachers Association
May 2012 Pension Legislation Update Ohio Senate Passes Pension Reform Legislation; STRS Ohio Hopeful That House
of Representatives Will Take Action In testimony before the Senate Insurance, Commerce and Labor Committee, the executive director told Committee members that the changes represent “the first time in STRS Ohio’s history that benefit reductions were being sought,” and that the changes are “necessary to preserve the pension fund and for the plan to meet its funding obligations.” Mr. Nehf’s complete testimony can be viewed here. The Committee passed the bill on May 15 in an 11-1 vote. STRS Ohio first addressed pension reform in 2009, when the Retirement Board approved a plan to modify benefits in September of that year. In response to constituent and Statehouse input, the board amended its proposal in October 2010 and January 2011. The reform package went through one more revision, in April 2012, following additional review and study by the Retirement Board — steps that were vital in creating a clear picture of the system’s financial condition. The plan components include:
A detailed list of the changes is available in the Strengthening the Financial Condition of the Retirement System document. The bill also includes provisions that would give the Retirement Board authority to adjust member contribution rates, the COLA and age and service requirements in the future without legislative approval on the condition that these adjustments would not materially impair the fiscal integrity of the retirement system or are necessary to preserve the fiscal integrity of the retirement system. All of the changes in STRS Ohio’s proposed plan require legislative action by the Ohio General Assembly and the governor, as all the plan components require changes in existing statute. Now, with the action taken by the Ohio Senate, STRS Ohio will turn its attention to the House of Representatives. Legislative leaders are looking for constituent support for these plan changes. A letter, phone call or email is a positive way to show your support and to let your representative know that these changes are necessary and will help preserve the long-term solvency of the retirement system. STRS Ohio will continue to use our newsletters, website, eUPDATE email news service and face-to-face meetings to keep members informed about the progress of the legislation and any changes going forward.
We invite all retired educators to become members of the Richland County Retired Teachers Association. RCRTA offers
its members the opportunity to stay informed about relevant legislation on such issues as education, health care, and other
retirement concerns. At the meetings, members can connect socially and learn about opportunities to connect with our community
through volunteer efforts. Our current President Mary Thomas wants to become more involved with city and county schools.
RCRTA will distribute pencils to every active teacher in the county on teacher appreciation day. The pencils have "Thank you for all you do for students." Richland County Retired Teacher's Asscociation Teacher Appreciation Day. Explore this site to learn more about our organization.  July 9th Meeting
The two-hour program will be of special interest to those who are 12 to 18 months from retirement. It reviews all of the essential steps of retiring, including defining important dates, STRS Ohio retirement benefits, how to complete your Service Retirement Application, health care issues, funding and much more. Tamla Cole from STRS will be the presenter. Attendees will receive a retirement booklet that highlights the key steps in the retirement process month-by-month. Spouses are welcome. To plan for refreshments and workbooks, registration can be made by calling Peg Gottfried, 419-529-6360 419-529-6360, or by email to pgottfried@neo.rr.com by April 20.
MEMBERSHIP SURVEY
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