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Ohio School Employees Retirement System says current contribution structure keeps plan on track
Summary
Ohio School Employees Retirement System officials told the Public Insurance and Pensions Committee the plan covers mostly lower‑paid school support staff, holds about $19.6 billion in assets with a 79% funded ratio, and projects full funding within 20 years under current contribution rates; the board emphasized COLA authority and sustainability monitoring.
Richard Stensard, executive director of the Ohio School Employees Retirement System, told the Public Insurance and Pensions Committee that SERS serves non‑teaching school employees — bus drivers, custodians, food service workers, administrative assistants and school treasurers — and that the membership and benefit profile is modest.
"Engagement, transparency, accountability, and sustainability" are principles that guide SERS, Stensard said, and he summarized fast‑facts showing the average active salary is about $27,800 while the average annual retirement benefit is roughly $16,775. He said 46% of active members earn less than $20,000 a year and 47% of retirees…
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