After more than two years of analysis and discussion, at the October 2023 meeting, the SERS Board approved the ‘factor’ that will be used under the Contribution Based Benefit Cap (CBBC) analysis for retirements with an effective date on or after…
Employee and Retiree Member Board Seats Up for Election One employee-member seat and one retiree-member seat are up for election with the terms beginning July 1, 2024, and ending June 30, 2028. Any member of SERS, other than a disability benefit…
On July 4, 2023, Governor Mike DeWine signed HB33 (the FY2024-FY2025 state budget bill) into law. Contained in that bill are the contents of HB 146, which establishes a SERS contribution based benefit cap (CBBC). HB 146 had passed the House…
With the backing of SERS’ Board of Trustees, H.B. 146, introduced by Rep. Adam Bird (R-New Richmond) and co-sponsored by Rep. Mary Lightbody (D-Westerville), would implement a Contribution Based Benefit Cap (CBBC) for SERS. It was unanimously passed out of the…
Earlier this week, SERS, alongside the Ohio Public Employees Retirement System and the State Teachers Retirement System of Ohio, voiced its support of House Concurrent Resolution (HCR) 6. HCR 6, introduced by Representatives Angela King (R-Celina) and Phil Plummer (R-Dayton), urges…
While the news of the Silicon Valley Bank (SVB) and Signature Bank failures is newsworthy, please know that SERS’ exposure to those banks through investments was small. In total, SERS has experienced a decline in assets of $1,566,393; -$929,410 in SVB…
Many equate financial confidence with financial stability, but while financial stability generally means you are debt free and have money saved to cover emergencies and future expenses, financial confidence goes beyond that. It means you are committed to becoming financially stable and taking…
The Annual Comprehensive Financial Report (ACFR) contains detailed information about SERS’ financial operations, which include major initiatives and highlights, investments, and funding for the period from July 1, 2021 to June 30, 2022. The Summary Annual Financial Report (SAFR) is an overview of the…
During this time of year, the to-do list items seem to keep multiplying. While there are few things to keep in mind as far as your SERS payments and benefits are concerned, we are here to help you keep it all…
The U.S. Consumer Financial Protection Bureau (CFPB) is warning of a new scam which targets older adults. In this latest scam, victims are told that they have won a class-action lawsuit in a foreign country but must pay taxes or money…
