Late last week, the Hocking College board presented their last best offer which contains several SB 5 like provisions.  The Support Staff voted over the weekend to not go on strike at this time.  The union has offered a counter-proposal which they feel will fairly resolve some of the board's concerns, but the board is refusing to consider any further proposals.  The mediator is still trying to get the two parties to come to a joint resolution.  We will try to keep you posted with any further developments. 

At the last OEA Executive Board meeting, they recommended a proposal for presentation at the OEA Spring Assembly to adopt a one time dues assessment of $22 per active member and $11 per ESP in support of the Voters First Initiative to amend the Ohio Constitution on redistricting and reapportionment.  The motion does not necessarily reflect the support of the board for this issue but that it should be brought to the Spring Assembly for consideration by that body.

This will be discussed at the SEOEA Spring Assembly in Jackson of April 17.  Please let your association representatives know your thoughts on the proposal as SEOEA considers whether to support this initiative.

 

OEA received a letter of thanks from the Chardon Education Association for the assistance and support of OEA members during their recent crisis.  Thank you OEA members! 

The OEA Summer Leadership Academy will be held August 6-8 at the Hyatt Regency Columbus.  Scholarships are available from SEOEA and Appalachian Regional Coordinating Council (ARCC) for those who are attending for the first time and younger members.  This is an excellent opportunity to learn more about being an effective leader or member advocate.  Check with your local president for applications, guidelines and deadlines.  Most scholarships cover registration, hotel and possibly mileage. 

Due to the length of time since their last recomendations, the retirement boards are considering new changes based on more recent actuarial assumptions.  Bear in mind that any changes will have to be passed into law by the legislature.  The Ohio Senate still plans on considering changes this spring but the House doesn't plan any considerations until later in the year.

STRS: At a special meeting on Friday, March 2, 2012, the STRS Board voted to change a number of actuarial assumptions of the pension plan.  This action was a product of a three-year experience review by the Board's actuarial firm, PricewaterhouseCoopers.  The most significant change is a reduction in the assumed investment return from 8% to 7.75%.  The change in assumptions adds over $2.3 billion to the unfunded liabilities of the pension plan.   It also adds 4.7 years to the funding period (the time required to pay off the unfunded liabilities) calculated on the Board's current proposal.  This increase extends the funding period beyond 30 years--the level called for in state statute.  Additionally, changes in COLA and contribution rates proposed for 2012 will be postponed one year because no legislation has been enacted.  This too adds to the unfunded liability and the funding period.

In response to objections to the Board's plan by the OEA, other stakeholder groups as well as legislators, the Board is examining a different phase-in for retirement eligibility changes.  The current plan has an "eligibility cliff" adding seven or eight years of work for those who fall just short of retirement in 2015. The Board has directed staff to study revisions to the plan to smooth this transition period for those nearing retirement.  There will likely be changes to the proposed COLA benefit.  One proposal discussed was a cap on the benefit where a 2% COLA would be paid only on the first $50,000 of the base benefit.  The Board asked for information on a one-year suspension of the COLA.  Other changes examined included assuming a gradual increase to 14% employee contributions and a faster collection of that increase.  Members of the Board spoke against any increase in annual employee contributions greater than 1%.  The Board also passed a motion to approve the concept of seeking Board authority to adjust plan design in the future without the need for legislative change.  Such authority could include adjustments to age and service eligibility, employee contributions, benefit formula, COLA and Medicare B reimbursement.  The Board is expected to consider changes to its proposed plan at its regular Board meeting on March 22-23.  

SERS: At its February Board meeting, the SERS Board adopted a number of changes to its pension reform proposal.  The plan passed by SERS in 2009 only made changes to retirement eligibility and called for changing the eligibility for retirement with full benefits to age 67 with 10 years of service or age 57 with at least 30 years of service.  The effective date of this change had been proposed for August 1, 2015.  The Board voted to move this date back two years to August 1, 2017.  Further, the plan would grandfather anyone who had at least 25 years of service credit by the effective date (essentially those with 20 or more years of service at present provided they continue service).  Those with fewer than 25 years of service credit would be able to retire under the provisions of current law provided they pay the actuarial cost of the benefit.  Further, the Board is seeking flexibility to adjust age and service requirements based on the results of an actuarial experience study every five years.

OPERS: At its February Board meeting, the OPERS Board voted to make a number of changes to its proposed plan.  First, in the area of retirement eligibility, the new plan would slightly increase age and service requirements for those who are between five and ten years away from retirement eligibility on the effective date of legislation.  Under the original plan, these members (referred to as "Group B") were grandfathered from changes to age and service eligibility.  The new plan would move eligibility to 31 years of service at age 52 or 32 years of service at any age.  Those in "Group C," new hires and those who are more than 10 years from retirement eligibility would have no change in eligibility from the Board's initial plan (age 55 and 32 years of service).

Other plan changes adopted by the Board include an anti-spiking provision, a transition in changes in the minimum earnable salary to earn full-time service credit and a recommendation to give the  Board discretion to make future changes in areas such as eligibility, contribution rates and COLA.

 

SAVE MONEY: SIGN UP NOW  FOR PRE-RETIRED LIFETIME NEA MEMBERSHIP

 

PROMOTE OEA-R'S WORK WITH EDUCATION MAJORS AT OU, KENT, MIAMI & OSU BY WORD OF MOUTH

OEA-Retired has received a NEA grant for a Mentor-Mentee Program for 3 years.  This program connects volunteers from OEA-R with interested members of OSEA on specific campuses.

The goal of this project is two-fold.   We want to support students as they prepare themselves for a career in education as well as their first year of employment while promoting the benefits of teaching unions.

Please, inform education students visiting your classroom to observe and teach about our program.  Encourage them along with family members and friends planning to major in education to join our program.  

For more information about The Mentoring Program, visit www.ohea.org clicking the Retired "button" at the top of the screen.