Changes made toward the goal of achieving full funding
During its May 16, 2019, meeting at State Teachers Retirement System (STRS), its Board voted to adopt funding policy changes to outline objectives and the criteria for making changes to funding and benefits as well as when those changes should be considered by the Board.
Additionally, at OEA’s urging, the Board adopted a change that at an 85% funding level or greater, the Board may consider changes in the plan that do not materially impair the fiscal integrity of the system.
OEA supports this change and supports restoration of COLA benefits as well as a reduction in employee contribution rates as financial conditions improve.
Click here to LEARN MORE or to download the June 2019 OEA Retirement Systems Update Memo.