What are the other Ohio statewide retirement systems doing?
Each of the state retirement systems whose populations are eligible to opt out to participate in the ARP (OPERS, SERS and STRS) are authorized to collect a mitigating rate to offset the negative financial impact of the electing employees’ participation in ARP. OPERS and SERS previously ceased collection of the mitigating rate because each system reached full funding in 1999. Since the expansion of the eligible ARP population in August 2005, SERS resumed collecting 6 percent of the employer contribution made on behalf of the ARP participants. Due to differences in funding status, STRS has never reached full funding status since the passage of the enabling legislation. Consequently, STRS has continually collected the mitigating contribution rate, which is currently 3.5 percent.
