|Members Retirees Employers|
The pay date for August is 08/01/2016.[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]
(7/18/16) - SERS is a longtime member organization of the National Institute on Retirement Security (NIRS). Since 2012, SERS Executive Director Lisa Morris, has been a member of NIRS’ Visionary Circle, a committee that works with NIRS’ Board of Directors to define the organization’s research priorities.
Last week, NIRS released a report, Preserving Retirement Income for Public Sector Employees, which finds that not only do almost all public retirement systems offer defined benefit (DB) pensions that provide stable retirement income throughout retirement, but many also have implemented plan features that allow employees who change jobs to preserve, and often times, increase their retirement benefits.
“I am pleased that NIRS conducted in-depth research on the positive impact pension savings have on the retirement security of short-term members,” says Morris. “This is a research topic I supported because national studies falsely portray public pension systems as being relevant only to career members. Ohio’s pension systems feature numerous portability options that strengthens the retirement security of all workers no matter how long they remain members of a public pension system.”[Read More...]
Key findings of the report include:
1. Nearly all of the public retirement systems studied offer a DB pension plan. Very few systems provide only a defined contribution plan.
2. Many public pension plans have adopted plan features that allow individuals who change jobs to retain and even increase their retirement benefits.
3. Almost all systems allow members to purchase certain types of service credit to increase their pension benefit. SERS allows members, if qualified, to purchase additional service credit, such as refunded or military service credit.
4. Many plans possess features that increase benefits and portability for short- or moderate-term employees.
The full report is available here.[Hide]
(6/27/2016) - 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 email@example.com.
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 GoToMeeting or upgrade your Java capability. This software is required to view our webinar. GoToMeeting requires that you have installed the latest version of the following browsers: Firefox, Chrome, Internet Explorer (9 or higher), or Safari (6 or higher).
If you experience any technical issues when logging on to the webinar, please visit this GoToMeeting page for assistance.[Hide]
(6/8/2016) - Ohio Attorney General Mike DeWine recently announced a new program, called "Ohio Protects," which was created to increase awareness of scams, fraud, and identity theft.
Research shows that senior Americans are scammed out of $3 billion every year, and, according to AARP, a quarter of Ohioans ages 18 and older were victims of identity theft and fraud in the past year.
The multi-media initiative includes a website, http://www.ohioprotects.org, which educates Ohioans on a variety of topics, including tips for avoiding scams associated with foreclosures, purchasing a used car, and debt collection, among other matters.
The website also provides consumers with tools to research businesses, and walks users through the steps to file a complaint against a business.[Read More...]
Over the past year, SERS has been hosting an informational series for retirees. It covers a variety of topics, including Social Security issues, basics of Medicare, and fraud prevention. The series also features speakers from local agencies.
Our next session is from 1 - 4 pm, on October 13, in the O’Keefe Conference Center at SERS’ headquarters,
We will end with a question and answer session. Refreshments will be served. Although the series is free of charge, space is limited, so be sure to register in advance.
(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:
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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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