While reductions in state subsidy showed how Gov. John Kasich’s proposed budget would affect The University of Toledo, UT officials are working to ensure individuals are aware of proposed pension changes in the state budget.
“The governor’s proposal would increase an employee’s contribution to his or her pension by 2 percent and reduce the employer’s contribution by 2 percent,” said Bill Logie, vice president for human resources and campus safety.
Logie said that these changes, combined with proposed modifications by the public employee retirement fund systems, make it essential that individuals make sure they understand how the adjustments will affect them.
“In February, we spread word that the struggling economic situation has led the State Teachers Retirement System (STRS) and the Ohio Public Employees Retirement System (OPERS) to recommend scaling back benefits,” Logie said.
“Combined with the proposals in the governor’s proposed budget, I recommend every person in the retirement system, whether for 29 years or one year, review these proposals and understand the ways they could affect you,” he said.
Logie said the best places to go for this information are the systems respective websites:
Ohio Public Employees Retirement System
• OPERS website: www.opers.org
• OPERS benefits: firstname.lastname@example.org
• OPERS health-care questions: email@example.com
• OPERS government relations: firstname.lastname@example.org
• Phone: 800.222.7377
State Teachers Retirement System
• STRS website: www.strsoh.org
• General STRS benefit questions: email@example.com
• STRS health-care questions: firstname.lastname@example.org
• Phone: 888.227.7877