Account Portability
If you are no longer teaching in an Ohio public school, you
may withdraw your STRS Ohio account in a lump sum with interest
paid* as follows:
- With less than three years of qualifying service credit,**
interest at a rate no greater than 4% compounded annually will
be paid on your teaching contributions;
- With at least three years but less than five years of qualifying
service credit, interest at a rate no greater than 6% compounded
annually will be paid on your teaching contributions;
- With five or more years of qualifying service credit, interest
at a rate no greater than 6% compounded annually will be paid
on your teaching contributions and an additional amount equal
to 50% of the sum of teaching contributions, plus interest,
will also be paid.
Following is a list of current interest rates:
With less than three years of qualifying service credit |
9/1/1920 to 12/31/2005 |
4.00% |
1/1/2006 to Present |
2.00% |
With at least three years but less than five years of qualifying service credit |
9/1/1920 to 12/31/1998 |
6.00% |
1/1/1999 to 12/31/2005 |
5.00% |
1/1/2006 to Present |
3.00% |
With five or more years of qualifying service credit |
| 9/1/1920 to 12/31/1998 |
6.00% |
| 1/1/1999 to 12/31/2005 |
5.00% |
| 1/1/2006 to Present |
3.00% |
Interest for all years withdrawn begins to accrue in the fiscal year
following deposit. For example, interest on 2006–2007 contributions would begin July 2007 and be payable August 2007 or later. No interest is payable if a member withdraws his or her account in July and contributed to STRS Ohio for only the year just ended. Interest stops accruing the month before account withdrawal.
Your account may be withdrawn as long as you:
- Are not under any form of teaching contract, including substitute
teaching;
- Are not under any type of verbal or written agreement for
future teaching with a board of education, university, college
or other Ohio employer under the retirement law;
- Are not on a leave of absence;
- Do not have an account in OPERS or SERS unless accounts in
those systems are also withdrawn; or
- Are not currently contributing to a college or university
alternative retirement plan. Only a transfer of STRS Ohio funds
to the alternative retirement plan is permitted.
If you withdraw your account you will no longer be an STRS Ohio member and will lose:
- Your accumulated STRS Ohio service credit and any benefits it may apply to in retirement including:
- Access to optional health care coverage (if you have more than 15 years of service credit);
- Automatic death benefits;
- Cost-of-living adjustments on the base retirement benefit; and
- Supplemental retirement benefit payments when approved by the State Teachers Retirement Board.
- Survivor benefits (after 1.50 years of STRS Ohio service) that continue for 27 months following your last contributing service or while you are receiving a disability benefit;
- Disability benefits (after 5.00 years of STRS Ohio service) that continue for two years following your last contributing service;
To request a withdrawal estimate, call STRS Ohio toll-free at
1-888-227-7877 or send an
e-mail.
Click here to download
an account withdrawal packet.
