|Members Retirees Employers|
The pay date for June is 06/01/2016.[Read More...]
*Direct deposit notice or check stub will be mailed to all benefit recipients.
You will receive a check stub whenever there is a change to your benefit, such as health care premium change, a tax withholding change, or a bank account change.
SERS strongly encourages all retirees to have their pension payments paid directly to a bank or credit union. Direct deposit of your funds is the only way to assure that your payment will be available on the first of every month. Direct deposit eliminates any concerns about late, lost, or stolen checks. Since pension checks cannot be forwarded, direct deposit also eliminates delays when you travel during retirement. It is your responsibility to make sure the funds are in your account before writing checks against your account.
If you do not enroll in direct deposit, there is no guarantee that you will receive your payment right on the first of every month. Delivery delays might occur that are beyond SERS’ control, such as lost or stolen checks. You must wait 10 days after the expected delivery date before SERS can begin the process of stopping payment and issuing a new check. This delay will not occur if you have direct deposit.[Hide]
(5/2/2016) - Today, we celebrate School Bus Driver Appreciation Day. Thank you to the more than 15,000 Ohio school bus drivers, both past and present, who keep our children safe every day.
(4/29/16) - Several members may have received correspondence from us within the last week regarding the 2013 pension reform changes that will be implemented on Aug. 1, 2017.
Under the new eligibility rules, the minimum age and service requirements will change from age 60 and 5 years of service credit to age 62 and 10 years of service credit.
We want you to know how the changes will affect you, so that you can make the best decision for your situation. For that reason, we are creating a series of pension reform videos, and holding webinars, that are specific to your situation.[Read More...]
Our first video addresses inactive members who will have less than 10 years of service credit and be under age 60 by Aug. 1, 2017. If this describes your situation and you would like more information, click here to watch a video explaining the changes.
We also will hold two webinars for this group of affected members. They will be held on May 9 and May 17, 2016. Please visit our Pension Reform page for more information and to register for a webinar.
Stay tuned to our Video Center page for more pension reform videos. We will post videos at a later date for the following groups of members:
(3/30/2016) - Are you planning to retire in another 10 to 15 years? Have you considered your retirement needs and how to achieve them? It is never too early to begin planning.
Consider joining us for a PREP seminar. We’ll cover a full range of topics including: retirement eligibility, service credit, Social Security’s Offset and Windfall Elimination Provision penalties, and financial planning. Ohio Deferred Compensation will also be there to show you how to invest for a more secure financial future.
The half-day program is free of charge. Space is limited and advanced registration is required, so be sure to register early.[Read More...]
(3/30/2016) - If you are within one year of retirement, consider joining us for the Retiring with SERS webinar. A webinar is an online seminar where information is presented to an audience via computer. As a participant in the SERS webinar, you will be able to listen to the webinar through your computer speakers and ask questions by typing them on your keyboard.
The webinar includes discussion about:
Service Retirement Basics
Space is limited and advance registration is required.
Registration can be completed by clicking the links below. Once you open the registration window, click either the Register link located in the Event Status field, or the Register button located at the bottom of the page.
After completing your registration, you will receive a confirmation email that provides instructions on how to connect to the webinar on the day of the event.
If you have any questions or problems registering, please email us at firstname.lastname@example.org.
System Requirements: Your computer must have sound capabilities in order for you to participate in the webinar. Please note that you will be prompted to install software from WebEx or upgrade your Java capability. This software is required to view our webinar. WebEx requires that you have installed the latest version of the following browsers: Firefox, Chrome, Internet Explorer (7 or higher), or Safari (5 or higher).[Hide]
(3/24/16) – Scammers are still at it.
They often offer deals that seem “too good to be true,” such as travel packages, extended car warranties, credit card protection, or overstated investment opportunities.
It has been reported that some are posing as prescription drug companies, asking for personal information.
Do not provide any personal information, such as credit card or bank account numbers, or Social Security numbers, to callers you do not know, even if they are asking you to “confirm” information. It is likely a scam.[Read More...]
The Federal Trade Commission (FTC) offers some lines that are commonly used by scammers:
If you hear a similar statement from an unknown caller, or feel pressured to make a decision or give out personal information, hang up and report them to the FTC.
In addition, if you have not already done so, register your home and mobile phone numbers with the National Do Not Call Registry. This will stop most unsolicited calls. If you still receive calls, it is most likely a scammer. Hang up and file a complaint with the National Do Not Call Registry.
For more red flags, and tips on how to handle an unexpected telemarking call, visit the FTC website.[Hide]
(3/23/16) - Yesterday's House Ways and Means Social Security Subcommittee hearing on "Social Security and Public Servants: Ensuring Equal Treatment" is now available to view online.
The highly anticipated hearing lasted about an hour and a half, and featured five witnesses who provided highly supportive testimony on reforming the punitive and unfair Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) penalties as soon as possible. You can read the witnesses' comments here.
SERS provided written comments for the hearing record, including a real-life example of a SERS retiree who was affected by the WEP.
Thank you to everyone who sent an email to their Congressional delegate through the SERS website, or submitted a written statement for consideration by the Committee.
Any person or organization is encouraged to submit written comments for consideration by April 5, 2016. Click here for more information, including formatting guidelines.
We will be sure to keep you posted on the progress of H.R. 711 as it proceeds through the Ways and Means Committee.[Read More...]
(3/17/16) - A new study from the National Institute on Retirement Security (NIRS), titled “Shortchanged in Retirement: The Continuing Challenges to Women's Financial Future,” finds that women are far more likely than men to experience financial difficulties in retirement.
The analysis, based on 2012 United States Census data, finds that women need to save more for retirement if they plan to maintain their current standards of living. This is particularly true if they only participate in defined contribution (DC) plans.
The study also indicates that the predictable nature of pension payments from defined benefit (DB) plans stimulates economic growth.[Read More...]
Researchers made the following key findings:
The report proposes several public policy changes to address the disparities faced by women in retirement.
Read the full report here.[Hide]
(3/15/16) - The House Ways and Means Committee, the chief tax-writing committee of the House of Representatives, announced today that the Social Security Subcommittee will hold a hearing regarding “Social Security and Public Servants: Ensuring Equal Treatment” on March 22, 2016.
This hearing represents an important development in the Equal Treatment of Public Servants Act, or H.R. 711.
Any individual or organization may submit a written statement for consideration by the Committee. We ask you to join us in support of this important legislation. Let your voice be heard. Click here to find out how you can submit a statement or letter. All statements must be submitted by April 5, 2016.[Read More...]
Rep. Kevin Brady (R-Texas), chairman of the House Ways and Means Committee, and Rep. Richard Neal (D-Massachusetts), senior member of the Committee, introduced H.R. 711 in Feb. 2015.
The bipartisan bill seeks to repeal or reform the Windfall Elimination Provision (WEP). The WEP reduces the amount of Social Security you receive based on your own Social Security employment record.
H.R. 711 has received a great deal of support from legislators throughout the country, 60 in total, as well as notable organizations.
Last year, the Social Security Advisory Board recommended that Congress replace the three-decade-old WEP with a proportional formula, as proposed in H.R. 711.
More recently, AARP, a non-profit membership organization for people over age 50, announced its support of the bill and “a fair solution to a longstanding problem for workers who have both private sector and state and local government service.”
SERS would like to express its thanks to all legislators who have announced their support of H.R. 711, especially the 10 Ohio representatives who have signed on as co-sponsors:
Most importantly, we want to thank you, our members and retirees, who have asked your congressional representative to co-sponsor H.R. 711. To date, you have sent more than 7,000 messages from SERS’ website petitioning support of this important bill, and your requests are making a difference.
We will continue to keep you updated on any actions taken as a result of this hearing.[Hide]
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Click here for previous SERS Spotlight articles.
Monthly Administrative Expense Reports
The Monthly Administrative Expense Reports contain information about SERS' day-to-day operating expenses and is provided in both summary and detail formats.
Click here to view these administrative expense reports.
Oppose Social Security Offset and Windfall Penalties
We encourage SERS members and retirees to contact their members of Congress to ask them to support elimination of these provisions. Contacting your legislators is easy using SERS' Legislative Action Alert. By entering your ZIP code, you’ll have access to the contact information (e-mail address, phone number, and mailing address) of your federal legislators.
Encourage your legislator to support the Equal Treatment for Public Servants Act.
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