COLA changes in the works

Temporary adjustment will provide reduction in pension liability

By Michael Pramik, Ohio Public Employees Retirement System

Oct. 3, 2019 – The OPERS Board of Trustees’ recent approval of a 2-year COLA freeze will have a positive impact on the long-term funding of our retirement system.

Freezing the cost-of-living adjustment for 2022 and 2023 will reduce OPERS’ unfunded liability of $24 billion by $3.44 billion. The liability reflects the difference between the actuarial cost of current and future retiree pension benefits and the actuarial value of the assets we’ve accumulated to pay the pensions.

As proposed, after the two-year freeze, the COLA will return to current conditions of a 3 percent COLA for those who retired before Jan. 7, 2013, and a CPI-based COLA for those who retired thereafter.

The package of changes the trustees voted for during the September board meeting has received positive stakeholder backing, and OPERS staff is beginning conversations with the Ohio legislature to codify the proposal into law. In addition to freezing the COLA for two years, the measure includes delaying COLAs for future retirees for two years after retirement, instead of one, and restoring 85 percent purchasing power to some retirees.

It’s essential that this action takes place now, as OPERS has nearly $3 billion in unrealized losses to account for in the next three years because of recent uneven market performance. Without the freeze and other changes, even if we were to achieve our 7.2 percent assumed investment rate of return annually over that time frame, our funding would suffer – the time in which we could pay off our unfunded liabilities would increase to 31 years, and our funded ratio of 78 percent would drop to 75.7 percent.

Several factors in addition to investment performance have added to OPERS’ current unfunded liability:

  • The large increases in retirees due to the baby boomer generation retiring. For instance, OPERS had about 172,000 retirees in 2009. This year, we have about 213,000 retirees, a 24 percent boost.
  • Longer life expectancies. Since 1970, overall life expectancies have increased from about 80 years to 85 years. While it’s great that we’re expected to live longer, OPERS does have to pay these pension benefits for a much longer period of time than in the past.
  • Changing investment expectations: OPERS has twice reduced its assumed investment rate of return in recent years, from 8 percent to 7.5 percent and then to 7.2 percent. These actions reflect the anticipated lower earnings the market is expected to provide going forward, but they do decrease our funding levels.
  • Benefit enhancements: These took place in the early part of the century, when the system was near full funding, and have added to the liability.

The changes would reduce the unfunded liability and would positively impact our amortization period, the time in which we expect to pay off those unfunded liabilities, reducing it from 27 years to 21 years.

Michael Pramik

Michael Pramik is communication strategist for the Ohio Public Employees Retirement System and editor of the PERSpective blog. As an experienced business journalist, he clarifies complex pension policies and helps members make smart choices to secure their retirement.

Michael Pramik

Communication Strategist

96 thoughts on “COLA changes in the works

  • October 3, 2019 at 4:35 pm
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    The CPI-based COLA is horrible! I retired in 2014 so barely missed your cut off date. More changes you are making should have had already retired seniors grandfathered! We did our ‘time’. Make the changes for the current work force…

    Reply
    • October 4, 2019 at 10:26 pm
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      Agree……I have often thought the same. We did in fact do our time. I retired in 2009 and the hits just keep on comin………

      Reply
    • November 7, 2019 at 9:35 am
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      I am also retired in 2014 and could not be happier with our awesome team at OPERS. I have actually gotten larger increases in retirement than most of the years I worked! Jane, use common sense when you think about how this system works. The changes that OPERS are putting in place are for the long term health of the entire system to benefit everyone. I am pleased that we have an organization that is being mindful of the long term health of our system. Jane take a look at a few other states out there, Illinois is a prime example, their public system is nearly bankrupt due in large part to their poor choices and not being proactive. They are woefully underfunded and will have a difficult time paying their retirees in the future. I am a proponent for getting rid of the automatic 3% that folks who were grandfathered in prior to 2014 were offered. This guarantee was made a long time ago and honestly is not sustainable in the long term. Our retirement needs to last a lifetime and as life spans increase our benefits need to last too. Before you scream foul do your homework. I doubt your own investments would have done as well as the ones being provided by OPERS. As it stands now you will have a lifetime income with some very nice increases most years. Kudo’s to our team at OPERS for looking out for our long term best interest. Thank you for your hard work and thoughtful actions.

      Reply
      • November 7, 2019 at 11:58 am
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        Karen….you advocate doing away with the COLA for people who retired prior to 2014. While I appreciate taking steps to shore up our OPERS system, I fear you do not take into consideration how much the COLA means to some of us older retirees. Most, if not all of us were paid wages far below those working in the private sector. The main reason we stuck it out was because of the retirement system. We realized that in the short term we could make more per hour by leaving public employment, but in the long term our EARNED retirement benefits were worth it. Worker entering the system now have a clearer picture of how things work and can use that knowledge to make long term employment decisions. We were not given that option. We rely on promises made.

        Reply
    • November 7, 2019 at 9:53 am
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      I’m w/ you Jane.

      Reply
  • October 3, 2019 at 4:41 pm
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    When are you guys going to start standing up to these insurance companies? Now you want to take our cola. I no longer trust OPERS….

    Reply
  • October 3, 2019 at 4:42 pm
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    Health care is going thru the roof and your freezing the COLA for 2 years. Absolutely crazy!

    Reply
  • October 3, 2019 at 4:45 pm
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    I’m all for it! This will protect the long-term funding of our pensions in the long run.

    Reply
  • October 3, 2019 at 4:54 pm
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    Thanks for the update,and all that you do
    for us as an organization

    Reply
  • October 3, 2019 at 5:04 pm
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    I seriously hope the O.P.E.R.S. Board will look at other insurance providers to confirm we are receiving the best insurance coverage for the cost? Maybe the threat of competition will help ease the outrageous cost increases we have been subjected to.

    Reply
  • October 3, 2019 at 5:53 pm
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    For those of us that were penalized and stuck into Group B and our retirement cut from its original projections, cutting COLA is long overdue .

    Reply
  • October 3, 2019 at 6:58 pm
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    All of the factors you cited were completely predictable. I’m very concerned about your ability to manage my money, and about solvency going forward.

    I’m reconsidering my position with the state.

    Reply
  • October 3, 2019 at 7:23 pm
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    I sure hope it’s for “ALL” retirees not just the chosen few before 2013. If not why target the ones after 2013……. not fair at all

    Reply
    • October 4, 2019 at 10:58 am
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      Rose,

      Yes, it covers all retirees.

      –Ohio PERS

      Reply
    • October 5, 2019 at 5:45 am
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      A HUGE problem I have with this freeze is I’m not getting younger, 2 years is a long time for a retiree with no pay increase. I retired in 2016 so now penalized because I didn’t retire earlier to guarantee 3% cola. Now your telling me after the 2 year freeze I will receive maybe 1.5% depending on the market….really? Plus I have to work part time for board of election to compensate lost income, which I only work during an election. Because of this I’m penalized with the reimbursement on healthcare. I can’t win with PERS!
      I want a law past to to compensate our lost income!

      Reply
  • October 3, 2019 at 7:25 pm
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    I know that some may be upset about this but we must keep PERS going. You guys are doing a great job.

    Thanks
    John Carpenter

    Reply
  • October 3, 2019 at 7:33 pm
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    I do not believe for one second that OPERS will restore the 3% COLA to pre-2013 retirees who are legally entitled to it. Therefore, we will fight it.

    It is a lie that stakeholders supported this.

    Reply
      • October 4, 2019 at 11:23 pm
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        PERI does not speak for many of us. We will fight this.

        Reply
      • October 7, 2019 at 10:14 am
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        The organization, PERI, may support the proposed freeze, but many members do not. Just to clarify.

        Reply
        • October 16, 2019 at 11:22 am
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          I agree that freezing the COLA for those retired or ABOUT to retire is completely unfair. But,why would we expect anything more at this point? When I was still working OPERS raised our deductions taken from our pay checks. Few complained because we assumed(now incorrectly) that the higher deduction would assure us of what we were promised when we started working. My wife is going to retire in 2021 which means she will get no COLA until 2024. How is that fair?

          Reply
    • November 7, 2019 at 9:42 am
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      Wow! Susan wake up! When did you ever receive an annual raise of 3% while you were actually working? I worked over 30 years for Ohio State University and maybe 2-3 times did I ever receive an increase over 1.5%. The fact that OPERS EVER guaranteed a lifetime annual increase of 3% is one of the worst decisions they ever made. OPERS has to serve everyone not just you! It needs to last a lifetime and if you read any of the material they are providing you will see most of us will live well into our late 80’s. If you dislike your OPERS retirement so much you know you had the right to take the lump sum and invest it yourself? I am so tired of people not using common sense when they review the information provided. Our OPERS system is one of the best in the country. If you don’t believe me look at Illinois and CALPERS.

      Reply
  • October 3, 2019 at 7:49 pm
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    Why is OPERS seeking to recoup much more money ($3.44 billion dollars) than it claims it lost (“nearly 3 billion”)?
    How did OPERS lose nearly $3 billion dollars during a bull stock market?
    It seems to me the real problem that OPERS has is how to get better returns on its investments.

    Reply
    • October 4, 2019 at 10:50 am
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      Arnold,

      Last year was a down market, which you can easily research. OPERS’ defined benefit fund was down 2.99 percent, when we’re trying to earn 7.2 percent. Those losses are realized over a period of years, thus the statement that we have nearly $3 billion due in unrealized losses in future years.

      –Ohio PERS

      Reply
      • October 4, 2019 at 6:02 pm
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        What about the turn aroun this year, positive for this year? And if the market we’re talking about is the Dow as an indication, 2017 was +25.8%. yes down because of a poor end of year 2018, but a clear recovery…so what will happen if the pessimistic market outlook fails to materialize, no cuts?

        Reply
        • October 7, 2019 at 9:19 am
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          Jim,

          OPERS doesn’t make changes every year to benefits based on market performance. For instance, the Great Recession didn’t impact the pensions of those who were retired at the time.

          –Ohio PERS

          Reply
      • October 21, 2019 at 10:22 pm
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        Down market? White House keeps telling everyone the economy is booming…

        Reply
  • October 3, 2019 at 8:00 pm
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    Will it effect what we already have received prior to 2022?

    Reply
    • October 4, 2019 at 10:50 am
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      John,

      No, it will not. It is a two-year freeze only for 2022 and 2023.

      –Ohio PERS

      Reply
  • October 3, 2019 at 8:08 pm
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    So after the two year freeze do we then get the cola increase for the current year as well as the two years that were frozen?

    Reply
    • October 4, 2019 at 10:51 am
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      Denise,

      No, after the two-year freeze the COLA will return to current levels.

      –Ohio PERS

      Reply
  • October 3, 2019 at 8:25 pm
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    I hate to loose 2 years of COL, but you have to do what you got do. Keep up the good work

    Reply
    • October 15, 2019 at 4:13 pm
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      You have to multiply the 2 years of lost COLA bump by the number of years you’ll be drawing the pension afterwards (i.e. number of years of life left). For some, that can be 10’s of thousands of dollars.

      Reply
  • October 3, 2019 at 8:30 pm
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    I was told at a seminar this week that you are basing information on 2013 life expectancy rates and prior rates were based on 1950 tables! Last year we saw a drop of the life expectancy in the US. Ask any funeral director. They will refute your figures! I believe it is 79. Why do you continue to inflate these numbers?

    Reply
    • October 7, 2019 at 9:11 am
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      Susan,

      Our actuarial information is that in 2018 U.S. life expectancies topped 80 years. Compare that with 1978, when it was between 69 and 74 years, and 1938, three years after we began operations, when it was between 55 and 63 years.

      –Ohio PERS

      Reply
    • October 17, 2019 at 2:42 pm
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      Yes. Why are you using data that is suspect at best?

      Reply
      • October 21, 2019 at 11:13 am
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        Mary,

        Our actuarial data is based on OPERS retirees versus the population as a whole.

        Julie, OPERS

        Reply
  • October 3, 2019 at 9:12 pm
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    I would like you to consider, the 2 year freeze of COLA, to be 2021 and 2023,, with a raise in the Inbetween year of 2022. This would not be as hard to take for those of us that depend on that raise to be vital to us. As a past union president, that negotiated many contracts for the city of Youngstown. 3 year contracts with something in-between, meant the world to us. Please consider this.

    Reply
    • October 6, 2019 at 3:14 pm
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      I agree. A year between any two freezes is much easier to handle.

      Reply
  • October 3, 2019 at 10:02 pm
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    If the stock market is up, where is your profit?

    Reply
      • October 4, 2019 at 10:53 pm
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        OPERS’ investment strategy since the Great Recession has been a debacle. Millions and millions being paid to hedge fund managers…shame!

        Reply
      • October 28, 2019 at 12:45 pm
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        On page 104, can someone please provide an explanation for why OPERS paid close to $564 MILLION in fees to “External Asset Managers by Portfolio”? This is a big reason why the system has failed its members since the 2008-2009 Great Recession during the greatest bull-market in history. Shameful!

        Reply
  • October 4, 2019 at 9:47 am
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    Need my pension and to continue to receive it, the freezing of cost of living increase is fine.

    Reply
  • October 4, 2019 at 10:18 am
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    I am hoping the legislature has more regard for us retirees than OPERS board of directors do. You all know that our health care costs are going to go no where but up and you are cutting off the only income most of us have. I will be cancelling my health care in 2022 – 23 barring any catastrophic illness I may have, just to offset the income I’ll be missing in those years. I pray that OPERS finds some other way (like get investment strategist that know what they are doing) to manage the OPERS funds instead of making the members life miserable. Thanks for nothing.

    Reply
    • October 4, 2019 at 11:11 am
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      TLJ,

      If you voluntarily cancel OPERS health care coverage, you can re-enroll, but you must provide proof of creditable coverage in another health care plan, including documentation from your plan administrator or employer confirming your cancellation. More information is available in the health care section on our website.

      –Ohio PERS

      Reply
    • October 5, 2019 at 3:26 pm
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      I wonder if the board members are gone to take a cut in there pay I bet not just wondering how much each board member makes a year and how much they pay for there insurance.

      Reply
      • October 7, 2019 at 9:29 am
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        Mike,

        Membership on the OPERS Board of Trustees is an unpaid position.

        –Ohio PERS

        Reply
        • October 21, 2019 at 12:46 pm
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          Are all members unpaid? Doesn’t the Governor appoint a Board member? If so, does that Board member receive pay?

          Reply
          • October 21, 2019 at 1:40 pm
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            OPERS Board members are not paid — including appointees

  • October 4, 2019 at 11:39 am
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    What is the anticipated effective date for implementation of these changes? Please provide a timeline for codification of the proposal into law.

    Thank you

    Reply
    • October 7, 2019 at 9:13 am
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      AP,

      Now that the Board of Trustees has approved the package, we are just beginning the implementation process.

      –Ohio PERS

      Reply
      • October 8, 2019 at 10:51 am
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        Can individuals contemplating retirement in calendar year 2020 (on or before 11/30/2020) anticipate COLA eligibility in 2021? Will 2020 retirees be subject to the two(2) COLA waiting period component of the proposed 2022/2023 COLA freeze … thus effectively resulting in a three(3) year COLA freeze for 2020 retirees ?

        Thank you,

        Reply
        • October 10, 2019 at 2:21 pm
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          AP,

          If you retire in 2020, you will receive a COLA in 2021.

          –Ohio PERS

          Reply
          • October 11, 2019 at 12:00 pm
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            What if planning to retire Feb. 2021? How will upcoming changes be applied? Thx.

          • October 16, 2019 at 8:23 am
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            John,

            Those who retire in February 2021 will receive their first COLA in February 2024.

            –Ohio PERS

  • October 4, 2019 at 1:38 pm
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    Cost of living THAT’S A JOKE 3% barely cuts it food ,tires, UTILITIES, property TAXES.
    You that live in the wealthy world can scheme and invest.
    We in the real world have to plan how to budget what we have. Thank God I got out when I did!

    Reply
  • October 4, 2019 at 4:06 pm
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    Instead of going 2 consecutive years without a COLA increase as now proposed, how ’bout something like for the next 3 to 5 years have a COLA increase every-other year. That way you can still get to your desired funding level; but no one is but 1 year away from an increase. Just a thought.

    Reply
  • October 4, 2019 at 4:27 pm
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    My concern is that when the two year freeze is up, OPERS will find some other excuse to go to the General Assembly to extend it.

    Our COLAs were passed into law in 2012, but that didn’t stop OPERS from trying to change it.

    Reply
  • October 4, 2019 at 4:52 pm
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    OPERS has a well-respected reputation for prudent decisions projecting 30-year pension payments costs. That is a fact. My decision to retire (pre-2013) was based on projections of my annual PENSION over time. Health insurance coverage was not promised.

    Reply
  • October 5, 2019 at 9:43 am
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    My health insurance premium is increasing 17%. Wow.

    Reply
  • October 6, 2019 at 12:41 pm
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    I think OPERS is doing a great job at informing us on changes. I’m for the 2-year freeze. For those who are against it, just be thankful it isn’t permanent.

    Reply
    • October 7, 2019 at 12:38 pm
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      I understand the need for this, but I do not understand how OPERS can justify violation the trust of those who were given a choice between an indexed COLA and a 3% COLA. It was a risk to take either…we who took the 3% may not be so lucky in the future if inflation (and the correlating) index ramp up. I don’t hear OPERS promising that we will get the greater of 3% or the indexed COLA if we are willing to give up the 3% now.

      Reply
  • October 8, 2019 at 11:00 am
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    The OPERS board has been a good steward up until now. I trust that they are trying to keep ALL stakeholders in mind as they try to steer their way to the future. You can’t kill the goose that lays the golden egg. Health care costs everywhere are increasing and those companies DO NOT CARE whether they are contracted to OPERS or Microsoft, they will charge and get what they want. The reason we have one of the best, most solvent retirement systems is that they were fiscally prudent and continue to be. Crying about a COLA that will create an unsustainable fiscal future is shortsighted and selfish. What about those folks still working with 10,15 or 20 years to go? They deserve a future too. I guarantee you that your benefits will always be better than those folks that have to wait another 15 years. So, be fiscally realistic and be grateful you have a pension system that few people are fortunate to have. You can’t spend more than you earn, period.

    Reply
    • October 16, 2019 at 9:34 am
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      Hi Mr. Schellinger,
      Perhaps we should think about what OPERS promised us when we were hired. I’m not certain that using the terms shortsighted and selfish, are correct. Perhaps we did plan to live within our budget, and perhaps we saved for several years, but I believe most of us depended on what OPERS said to us when we were hired as new employees. Maybe describing us as naïve or foolish would be better. I don’t think shortsighted and selfish are correct. And yes, our pensions are guaranteed, but is the amount of our pension guaranteed? Can pension amounts be changed just like the COLA guarantee was changed?? Please, we shouldn’t be shortsighted about that question! Fingers crossed that this passes the moderator’s judgement and is posted.
      Best,
      Cheryl

      Reply
    • October 16, 2019 at 5:00 pm
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      First I understand the need for changes. Second, Ohio is about 20th in pension system funding. We are not one of the best or most solvent according to the tax foundation. Third, health care benefits should not be confused with pension benefits; health benefits were never guaranteed. Finally those of us who opted for a 3% cola were given a choice. While we have lucked out so far, we may have benefited more from the standard indexed cola in the past and into the future (based of course on inflation).

      Reply
    • November 7, 2019 at 9:56 am
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      Jeffrey, Thank you I have been saying the same thing. This is a great retirement system. So impressed with their ability to be proactive and good stewards of our funds.

      Reply
  • October 8, 2019 at 11:42 am
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    So if someone retires in 2020 or 2021 they will not receive a COLA until 2024 OR 2025?

    Reply
    • October 9, 2019 at 12:27 pm
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      Vince,

      According to the COLA changes, someone retiring in 2020 would receive a COLA in 2021, then again in 2024. The person retiring in 2021 would receive the first COLA in 2024. Those retiring beyond that would receive the first COLA 24 months after retiring.

      –Ohio PERS

      Reply
      • October 11, 2019 at 1:02 pm
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        Hi Vince, This is my interpretation: Someone retiring in 2020 will still receive a measly, little COLA based on the CPI, and then, they won’t receive that measly, little CPI based COLA for the next two years!
        CherylH

        Reply
  • October 9, 2019 at 2:17 pm
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    The COLA freeze is just the first shoe to drop…..Health Care is next….OPERS is far from finished with cost cutting measures.

    I recall, when working , that 8% was the withdrawal % of income taken out for OPERS; then a year later it increased to 8.5%; then a year later it increased to 9.0%; then a year later it increased to 9.5%; then finally a year later it topped off at 10.0%. This is where it is now. Those measures took place back in the 1980s. Obviously those working then paid forward for many to maintain their existing benefits during that period of time for numerous decades.

    Why is there no consideration for the same or other withdrawal increases now?

    Reply
    • October 16, 2019 at 11:26 am
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      Thank you. I had no problem with the increase back then.

      Reply
      • October 17, 2019 at 5:21 pm
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        I agree. I was working at the time and affected by all those changes and never had a problem with it. I knew they were being made to strengthen the system for my future retirement and never once did I think it wasn’t fair or that those currently retired should make any concessions just because I had to.

        Reply
  • October 17, 2019 at 6:56 pm
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    I must be missing something. Why would anyone believe the freeze will end in two years and/or not be repeated whenever OPERS want. I don’t understand how anyone would believe anything OPERS says.

    Reply
    • October 21, 2019 at 9:25 am
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      Not saying I do not trust OPERS and its leadership, but simply saying ” it will be written into the legislation” really is meaningless. Legislation can be rewritten or changed as need be. As I am assuming it was in this case.

      I still like the suggestion of skipping a year between “freeze” years.

      Reply
    • October 21, 2019 at 9:33 am
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      There is no way a retiree can keep up with inflation at 3%. how much more will we lose when insurance premiums sky rocket in those 2 years. We will never get that back. It should also be written into LEGISLATION that insurance premiums will be FROZEN during those 2 years as well. I am quickly finding out how true it is when i hear that seniors are having to choose between medicine and food.

      Reply
    • October 21, 2019 at 9:58 am
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      Dear Opers:
      Im a bit concerned about your comment that the dates “will be written into legislation”.
      Opers lost this very same battle with the legislature on your last attempt.
      Doesn’t your latest proposal have to go to the legislature for approval? I did not think you had the legal authority to do this without legislature approval?

      Reply
      • October 25, 2019 at 2:12 pm
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        Mike,

        The changes to the cost-of-living allowance require legislative approval.

        Julie, OPERS

        Reply
    • October 21, 2019 at 11:07 am
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      Sue,

      The Board’s proposal must be passed by the Ohio General Assembly and therefore the two-year freeze, and returning to current COLA conditions, will be written in to state law.

      Thanks,

      Julie, OPERS

      Reply
      • October 21, 2019 at 11:33 am
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        Hi Julie – Laws are changed all the time, The law will need to changed for this current proposal. So the many times you have replied that “will be written in to state law” in the recent articles does not mean much.

        Reply
      • October 21, 2019 at 12:25 pm
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        Sure, and then OPERS will go back to the legislature after the freeze and propose new legislation making the freeze permanent.

        Reply
      • October 24, 2019 at 4:37 pm
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        Sure. And then OPERS will go back to the General Assembly again with a proposal to make the freeze permanent. I fully expect this comment to be censored as several of mine have been already.

        Reply
  • October 21, 2019 at 9:31 am
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    Not sure as to why we who retired after 2013 have to penalized. The lower cola should be on those who retire now going forward, the 2 year freeze affects everyone and I can take that but to lower cola while increasing healthcare premiums is quite disheartening as I went into this career for the end game and that was the retirement

    Reply
  • October 23, 2019 at 9:46 pm
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    Really confusing…No longer can i afford health care. Can i cancel without having another plan in place? When opers does away with healthcare, will we be given a monthly subsidy to go buy somewhere else like police and fire pension? COLA always offset the monthly healthcare rise and that will sting especially on disability.

    Reply
    • October 25, 2019 at 2:08 pm
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      Andrew,

      Our proposed plan changes your health care coverage, it doesn’t eliminate it. Under the current proposal, beginning in 2022, you will be given a monthly allowance that you can use to purchase health insurance or save for future health costs. You can cancel your OPERS health care coverage at any point during the year, but you must have proof of coverage in another plan to re-enroll. For more information about withdrawing from OPERS coverage, go to https://www.opers.org/healthcare/enrollment/index.shtml.

      Julie, OPERS

      Reply
  • October 24, 2019 at 7:32 am
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    Please describe Healthcare Package 5 and COLA Package 3 right here in detail or provide a direct link where the information on these 2 Packages that were voted on by your Board appears immediately for viewing. Thank you and please stop censoring comments that are adverse to your position. The Ohio General Assembly needs to see all member input and questions/concerns.

    Reply
    • October 24, 2019 at 10:47 am
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      Jennifer,

      You can find more information on the OPERS website under 2019 Board Meeting dates, https://www.opers.org/about/board/meetings/index.shtml. Scroll to August 20-21 and click Agenda to see the presentations given during the meeting. Information on the new health care packages begins on p. 11, with details on Package 5 on p. 30. The COLA discussion starts on page 60.

      Julie, OPERS

      Reply
  • October 24, 2019 at 11:33 am
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    Notice it’s always us who takes the hit on this stuff. From cola to healthcare. No one ever stands up for us and asks why is our health insurance goining up? The insurance companies and hospitals are all in bed with each other. How come one is standing up to them? Just easer to roll over a play dead. No one cares. It’s all about money and how much they can make. This is so old.

    Reply
  • October 24, 2019 at 12:32 pm
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    I would like to know if the Board Members would agree to pass on a raise for themselves for 2022 and 2023 just like we have to.

    Reply
    • October 24, 2019 at 1:35 pm
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      Cindy,

      OPERS Board members are not paid.

      Julie, OPERS

      Reply
  • October 24, 2019 at 7:55 pm
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    One of the biggest bull markets and u lose money? wow

    Reply

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