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What is the process for the determining the mitigating rate?

April 26, 2017determining mitigating process rate

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What is the process for the determining the mitigating rate?

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Every three years according to law, the Ohio Retirement Study Council uses an independent actuary to review and determine any necessary adjustments in the mitigating rate to reflect any changes in the level of the negative financial impact on the state retirement systems. The most recent review was completed in June 2005. At the time the study was completed, OPERS was not authorized to begin collecting the ARP mitigating rate because the OPERS Board was not collecting a mitigating rate from participants in the OPERS defined contribution plans. (OPERS started collecting a mitigating rate from its defined contribution members in January 2006.