Dear Colleagues,
You should all be receiving your STRS annual statement in the mail soon. Some things to know:
1) If you have already earned 27 years or more, but less than 30 years of STRS service credit, then you are eligible for our $1,150 retirement enhancement. Keep an eye out for the letter from HR later in the month asking for a copy of your STRS statement. You must submit this info all 3 years you are eligible.
2) Purchasing Service Credit - If you have any eligible years to buy for retirement, now is the time. As we have published before, the rates will skyrocket even higher than they are now as of January, 2014. The following are possible types of eligible service:
•Out-of-state teaching and public service
•Private teaching service
•Federal civilian service
•Waived service
•Prior military service
•Ohio service for which contributions were not made
•Pregnancy leaves or resignations before July 1982
•School board service
3) Transition to 35 and 60. The projected retirement benefits on page 2 of the statement can be interesting. The new STRS info does not clearly show the calculations for reduced retirement eligibility or benefits. The statement shows a reduced amount, in case you need it, but it may also show the first date you are eligible to retire with the full 2.2% unreduced benefit. Read it carefully and call STRS if you have questions, they are very helpful.
In Union,
Ari Klein
CHTU President
