Retired teachers in Ohio will not see a cost of living raise for the next five years. The State Teachers Retirement System board has voted to stop the payment increases after they re-assessed their assets and liabilities.
For nearly 100 years, every Ohio public school and charter school teacher has been paying into the STRS pension. Lately, retirees have been seeing annual cost of living adjustments of 2 to 3 percent a year. But the Great Recession put a strong hurt on the system’s investments.