Are you preparing for the golden years, envisioning a future secured by the promise of a pension? The School Employees Retirement System of Ohio (SERS) stands as a cornerstone for countless public sector workers, offering a pathway to financial security in retirement.
Located at 300 E. Broad St., Suite 100, Columbus, OH 43215, SERS serves as a vital institution, designed to provide financial stability to those who have dedicated their careers to public service in Ohio. It is a defined benefit (DB) plan, guaranteeing a lifetime pension based on age, final average salary, and years of service. This differs from a defined contribution plan, such as a 401(k), as pensions are guaranteed by statute, offering a sense of security often unmatched in other retirement schemes. The institution provides retirement allowances, disability and survivor benefits, and access to healthcare coverage, ensuring members have comprehensive support throughout their retirement.
The Ohio Public Employees Retirement System (OPERS) and the State Teachers Retirement System of Ohio (STRS) are also key players in Ohio's pension landscape. OPERS is designed to provide financial security to public sector employees in Ohio, including firefighters, police officers, and other government workers after they retire. STRS is the pension plan specifically for teachers in Ohio. SERS, OPERS, and STRS service credit can be combined with STRS Ohio service credit at retirement. The benefit is calculated and paid by the system with the greatest amount of service credit.
Understanding the intricacies of these systems is crucial for planning your future. SERS provides various resources to assist members, including retirement, enrollment, and health care guides. You can access tax and pension information, newsletters, and informative handouts, all designed to help retirees and employers alike navigate the complexities of retirement planning and benefits. This includes providing access to health care coverage & information, including enrollment, cancellation, plans, premiums, dental, vision, medicare basics & more.
For retirees enrolled in Medicare, Aetna offers a suite of benefits. Members will have a single health plan, offering the same comprehensive benefits they had before becoming a SERS/Aetna Medicare Advantage member. For specific benefit questions or to learn more about the Aetna Medicare Advantage plan, retirees can contact Aetna member services at the provided phone number and member hours. These resources aim to ensure a smooth transition into retirement.
In recent developments, the Ohio legislature passed a bill granting SERS the authority to implement a crucial calculation. This summer the Ohio legislature passed a bill that gives SERS the power to use a calculation to stop school employees from pension spiking and putting a strain on your pension system. The Contribution Based Benefit Cap (CBBC) is the calculation, a tool SERS will start using in 2024 to identify and prevent pension spiking or benefit inflation. This is part of a broader effort to maintain the long-term financial health of the system, ensuring that the benefits promised to members remain sustainable for future generations. Find out how it affects your retirement benefit and how to check your status on the SERS website.
The Contribution Based Benefit Cap (CBBC) is a tool SERS will start using in 2024 to identify and prevent pension spiking or benefit inflation. This calculation, the contribution based benefit cap (cbbc), is a tool sers will start using in 2024 to identify and prevent pension spiking or benefit inflation.
Transparency is a key priority for SERS. The institution publishes its financial documents and maintains archives of past financial information, covering income, expenditures, and funding progress. Administrative expense reports are available in both summary and detail, issued monthly, with reports available for download annually. This commitment to openness allows members and stakeholders to stay informed about the systems financial health and operations.
In a significant development, the Social Security Fairness Act was signed into law on January 5, 2025. This act repealed the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), impacting more than 3 million public workers. This change could positively affect the retirement benefits of SERS members and other public sector employees, helping to ensure that their retirement income is as secure and fair as possible.
SERS members have access to valuable support services. SERS offers dental and vision coverage through Delta Dental of Ohio and VSP Vision Care. Members can sign up for these additional coverages, even if not enrolled in SERS' health care coverage. Moreover, members can explore the possibility of restoring service credit after a refund, helping to maximize their retirement benefits. As an additional resource, SERS is located in downtown Columbus at 300 E. Broad st., suite 100, columbus, ohio 43215, with free parking available in the SERS parking garage, accessible via Grant Avenue, north of Broad Street.
SERS plays a pivotal role in supporting the unsung heroes of Ohio's public school system. These members perform important responsibilities that keep schools running smoothly, creating a conducive learning environment for students. Their contributions are essential, ensuring that Ohio's schools function effectively and safely.
Founded in June 1978 by a school employee retiree, SERO is a voluntary organization dedicated solely to benefit the retired and contributing members of the school employees retirement system, SERS. SERS, Monday through Friday, 8 a.m. is accessible to members for any queries.
| SERS Information at a Glance | |
|---|---|
| Official Name: | School Employees Retirement System of Ohio (SERS) |
| Address: | 300 E. Broad St., Suite 100, Columbus, OH 43215 |
| Mission: | To provide financial security to public sector employees in Ohio. |
| Type: | Defined Benefit (DB) Pension Plan |
| Services Offered: | Retirement allowances, disability & survivor benefits, health care coverage, dental and vision coverage. |
| Key Features: | Guaranteed lifetime pension based on age, final average salary, and years of service. |
| Important Legislation: | The Social Security Fairness Act (signed January 5, 2025), which repeals the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). |
| Contact Information: | For benefit questions or to learn more about the Aetna Medicare Advantage plan for SERS retirees, call Aetna member services at ${groupphonenumber} ${tty}, ${memberhours}. |
| Additional Information: | The Ohio legislature passed a bill granting SERS the authority to implement a Contribution Based Benefit Cap (CBBC) in 2024 to prevent pension spiking. SERS publishes its financial documents and maintains archives of past financial information, ensuring transparency. |
If you're a retiree, a current member, or planning for your future, SERS provides valuable resources and support. For benefit questions or to learn more about the Aetna Medicare Advantage plan for SERS retirees call Aetna member services at ${groupphonenumber} ${tty}, ${memberhours}. You can contact them during business hours, Monday through Friday, 8 a.m. SERS is committed to providing the resources and information you need to make informed decisions about your retirement and ensure your financial security for the future.
Members who joined SERS before May 14, 2008, are eligible for service credit in a defined benefit plan. The benefit is calculated and paid by the system in which the greatest amount of service credit is established. You will have a single health plan that gives you the same comprehensive benefits you had prior to becoming a SERS/Aetna Medicare Advantage member.
