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New Retirement Incentive Plan Cost Factors Effective July 1, 2009
Effective July 1, 2009, the cost factors used to calculate employer cost of a Retirement Incentive Plan have changed. The new cost factors are effective for members retiring on or after July 1, 2009.
Under Ohio law, employers adopting Retirement Incentive Plans must pay the full retirement liability resulting from the purchase of credit. The changes to the factors reflect an increase in the assumed rate of investment return adopted by the State Teachers Retirement Board.
If you have any questions, contact the employer reporting education team toll-free at 1-888-535-4050.
To view the revised tables, click here.
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