STRS is responding to challenges

STRS is responding to challenges

In response to your articles about re-employed retirees, we at STRS Ohio agree that pension reform is needed and educators must work longer. In the past, as the Ohio Legislature has made changes to the rules governing re-employed retirees, STRS Ohio has made adjustments to help ensure that reemployed retirees do not negatively impact the pension fund or the separate health care fund. These past reforms include no longer providing primary health care coverage to rehired retirees, and also making the payout after a second retirement cost neutral to the system. Re-employed retirees and their employers also pay the same amount in contributions as do non-retirees.

More recently, our Retirement Board took the responsible step as system fiduciaries and adopted a plan in September 2009 that proposes a number of changes to pension plan design for Ohio’s public educators. One of the plan’s major components increases the service required for retirement to 35 years. We look forward to our proposed pension plan changes being included in future legislation and will continue to work with the Ohio Retirement Study Council, other legislators and all stakeholder groups to bring about changes that will help ensure the sustainability of STRS Ohio for Ohio taxpayers who have chosen public education as their career.

Michael J. Nehf, Columbus

The writer is executive director of the State Teachers Retirement System of Ohio.

Retirement system remains sound

In light of recent media cov- erage of Ohio public pension systems, it is important to reiterate the long-term sustainability of the Ohio Public Employees Retirement System (OPERS) is not in question. For 75 years, our system has provided retirement security to our members and demonstrated our responsibility to remain well-funded during turbulent times.

Last year, the OPERS Board of Trustees recommended changes to our benefit plan design that will help maintain the fund’s financial strength. The proposal raises members’ retirement age, alters the formula to calculate benefits and offers other substantive recommendations that will maintain our ability to provide pensions with no increase in taxpayer contributions.

We strongly advocate the introduction of pension legislation by the Ohio General Assembly, and we look forward to its passage.

OPERS believes that everyone deserves a secure retirement. Public pension issues, such as re-employed retirees, member retirement age, and the balance between transparency and retirees’ right to privacy under state law, concern Ohio citizens. Public interest in these topics is appropriate as we pursue meaningful legislative changes to Ohio’s public pension plans.

Chris DeRose, Columbus

The writer is chief executive officer of the Ohio Public Employees Retirement System.

Landscaping replaces stores

What happened to Market Street? Years ago, Market Street was busy, we had Western Auto, Dusi Music, Stambaugh Thompson and many more businesses. Now we have nothing.

There are about 20 CCA lots on Market Street. They even took over the library at Delason and Market. It is sad for those of us who have lived on the South Side all our lives to go down Market Street and see nothing.

Why don’t we change the name to CCA Corridor?

Doris Garner, Youngstown