3357:12-16-23-State Teachers Retirement System of Ohio (STRS Ohio)

1. POLICY

 

Members of STRS Ohio contribute a percentage of their wages defined by the State and the Collegecontributes the required percentage of the employee’s wages.

All new members may select a STRS Ohio retirement plan from three options: Ohio Defined Benefit Plan, Ohio Defined Contribution Plan, or Ohio Combined Plan. Retirement benefits, if vested, include optional retirement age, disability retirement income, survivor benefits, optional retirement plans, healthcare plans, withdrawal privileges, opportunity to purchase additional increments, and ability to coordinate with other state retirement programs.

Additional information can be found on www.strsoh.org or by contacting the Office of Human Resources.

1. POLICY GUIDELINES

Eligible employees consist of faculty, academic administrators including Deans and Chief Academic Officer.

1. POLICY HISTORY

 

• Policy adopted November 2016
• Policy revisions approved by Board of Trustees November 2016
• Policy reviewed by the Human Resource Advisory Council May 2021; minor and inconsequential modifications were made to the policy

1. INITIATING DIVISION

Office of Human Resources

1. POLICY REVIEWERS

Office of Human Resources

Human Resources Advisory Council

1. POLICY REFERENCES

 

1. See forms recommended by appropriate retirement system
2. Reference ORC 3307.01, State Teachers Retirements System (STRS)

Reference Policy 3357:12-16-19, Retirement Programs