Retirement Plans

Since 1920, STRS Ohio has offered a retirement plan for Ohio’s public educators. In 2001, to meet the needs of a changing workforce, STRS Ohio began offering three retirement plan options: the traditional Defined Benefit (DB Plan), a Defined Contribution (DC Plan) and a Combined (CO Plan), which is a hybrid of the DB and DC plans. Some highlights of the plans include:

  • Overall member participation rates are 85% Defined Benefit Plan, 10% Defined Contribution Plan and 5% Combined Plan. (Before July 1, 2001, the Defined Benefit Plan was the only option.)
    Graphic pie chart of member participation rates.

    Active member enrollment in 2021 for STRS Ohio’s retirement plan choices.

  • College and university faculty have the additional option of selecting a privately run alternative retirement plan (ARP) — a defined contribution option.
  • College and university faculty chose to participate in an STRS Ohio retirement plan 59% of the time in 2021.
  • Reselection option — Members who choose the STRS Ohio Defined Contribution or Combined Plan may change their plan during their fifth year of membership. Members who choose the STRS Ohio Defined Benefit Plan or a private ARP may not reselect.
  • Contribution rates are the same for all plans — currently 14% member/14% employer.
  • All plans are portable between Ohio public employers and can be withdrawn upon termination of Ohio public employment.
  • Investment and mortality risk is pooled in the traditional Defined Benefit Plan, while the individual bears those risks in the Defined Contribution Plan, Combined Plan (defined contribution portion) or ARP.
  • Survivor and disability benefits while working are available only through the Defined Benefit and Combined Plans to those who meet eligibility requirements.
  • Health care access is available in retirement for members of the Defined Benefit and Combined Plans who meet eligibility requirements.