Click here to read the public pension fund directors’ response to the governor’s proposal. 
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Saperstein Associates, a Columbus research firm, will be making calls to randomly selected retirees (July) and members (August). So, if you get a call from Saperstein Associates, they are calling on behalf of SERS. Please take the time to respond to the short phone survey and help SERS improve on what we do for you. Thank you!

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If you care about your SERS health care news, fund status, and financial updates, just send your e-mail request to boardhighlights@ohsers.org.  We’ll add you to our e-mail list to receive monthly news about SERS events, health care, and investments. [Hide]

SERS members already enrolled in Aetna’s plan can stay with their existing Aetna plan or change to Prudential coverage without proof of good health. Members who change to Prudential will get comparable or better benefits and competitive premium rates based on your age(s) when you purchased Aetna coverage. You will stay with Aetna unless you request a change. The switch from Aetna to Prudential will not take place without your consent.

To ensure you’re eligible to change to the new Prudential Long-Term Care Insurance plan:

• Make your required premium payment to Aetna until the effective date of the new Prudential coverage.
• Review the information sent from Prudential about the new plan and how to replace your current coverage.
• Contact Aetna if you have any questions about your current Aetna plan at 1-800-537-8521.

After receiving your information package in the mail during the week of May 25, 2009, call Prudential with any questions you have about benefits and rates at 1-800-732-0416.

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SERS is requesting the studies by its actuary, Cavanaugh Macdonald Consulting, LLC, to determine how these changes would affect the System and its members.

The ORSC has proposed that the following pension changes be considered: increase employee and/or employer contribution rates; increase retirement age; change the benefit formula; increase Final Average Salary (FAS) to five years; eliminate lump sum death benefit; eliminate, delay, or reduce the COLA; and increase the number of days of employment per year needed to earn one year of service credit.

It has not been decided whether the changes would affect current members, those retiring on or after a five-year grandfathering period, or new hires only.

Some recent newspaper editorials in the Cincinnati Enquirer, Columbus Dispatch, and Dayton Daily News have called on Ohio’s legislators to take quick action on these pension changes in response to recent investment losses. Despite the market downturn, SERS’ pension fund is solvent. Be assured that SERS’ Board and staff are committed to working with the ORSC and you, our members and retirees, to find ways to further improve the solvency of the fund and to provide the best possible pension benefits.

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Express Scripts will continue to manage your drug plan, but starting July 1, 2009, Express Scripts also will manage the link between SERS and Medicare.

Your copayment structure will stay the same for 2009. There are a few formulary (drug list) changes at this time but as always, Express Scripts will tell you if a change affects you. Your dependents who do not get Medicare must keep the same ID cards. SERS will continue to offer a drug plan - you do not have to join a separate Medicare Part D plan.

In addition to the new member ID card, you might qualify for extra help from Medicare. Express Scripts will contact everyone who qualifies for the Low Income Subsidy. We also encourage members with Medicare questions to call Express Scripts’ new toll-free Medicare hotline at 1-866-258-5819.

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