The Combined Plan includes features of the Defined Benefit and the Defined Contribution Plans. From an STRS Ohio member's current contribution of 14%* of annual salary, 12% goes into a defined contribution account where the investment risk is assumed by the member. However, 2% of their current contribution and employer contributions fund a defined benefit portion of the plan — invested by STRS Ohio investment professionals — to pay for service retirement, disability and survivor benefits and access to health care coverage in retirement.
*Contribution rates and eligibility for health care are established by the State Teachers Retirement Board and are subject to change.
Members who have credit in the Ohio Public Employees Retirement System or the School Employees Retirement System and select this plan may affect their future benefits from these systems.
What This Means for Members
Members who retire with 35 years of service under the current formula will receive 35% of their final average salary as an annual retirement benefit from the defined benefit portion of their account, starting at age 60. Members can also select from several payout options for the defined contribution portion of their account. Click here to compare this plan with the other STRS Ohio retirement plan options.
*Coverage under the STRS Ohio Health Care Program is not guaranteed. STRS Ohio hopes to continue the program, but reserves the right to change or discontinue all or part of the program for all or a class of eligible benefit recipients and dependents at any time.