Combined Plan Retirement Benefits
Separate versions of this presentation are also available for Defined Benefit Plan and Defined Contribution Plan participants.
This presentation for Combined Plan participants includes information members need to be aware of prior to retirement, such as monthly benefit payment details, death benefits and reemployment restrictions. Viewing this presentation is highly recommended for members attending an STRS Ohio counseling session and/or retiring in the near future.
To confirm which of the three STRS Ohio retirement plans you are enrolled in, log in to your Online Personal Account. A description of each plan is shown below.
Defined Benefit Plan
As its name implies, your retirement income under the Defined Benefit Plan is “defined” by a calculation that uses your age, years of service and final average salary.
Defined Contribution Plan
Under this plan, your retirement income is based on the performance of investment choices you select, contributions to your account and annuity rates in effect at retirement. You may allocate your contributions among various investment options managed by STRS Ohio.
Retirement benefits under the Combined Plan consist of an annuity from the defined contribution portion and an annuity from the defined benefit portion. The defined contribution annuity is based on the performance of investment choices you select, contributions to your account and annuity rates in effect at retirement. The defined benefit annuity is equal to 1% of your final average salary per year of service credit.
It is advisable to schedule a benefits counseling session at least three years before you plan to retire and again six to 12 months from retirement. You may schedule an appointment in your Online Personal Account (select “Schedule a Meeting” at the top of the page) or by calling STRS Ohio toll-free at 888‑227‑7877 Monday through Friday, 8 a.m.–5 p.m. You can also call STRS Ohio if you have questions about your retirement plan.