ORTA/STRS NEWS
ORTA Weekly Update: May 23, 2026
Greetings ORTA Members,
It was an interesting week, though there was still no news on the Glennetta Krause case. Again, no news is good news because it maintains the Board’s current composition.
On May 14th, the Ohio Retirement Study Council (ORSC) held its monthly meeting, where each of the five pension systems in Ohio was to report its Fiscal Year 2027 budget. When STRS Director Toole presented the STRS fiscal year 2027 budget, he projected a 9.8% increase. The increase did not appear to be well-received by the ORSC Chair, Adam Bird. Chair Bird ended the STRS presentation by saying he wasn’t happy with the 9.8% increase and hoped our Board would take a close look at the budget. The discussion can be heard on the Ohio Channel (go to the 49-minute mark if you are interested). Six days later, on May 20, 2026, at the STRS Board meeting, members learned that the STRS 2027 Fiscal Year Budget has since been reduced to a 6.2% increase.
Also happening at the May 20, 2026, STRS meeting was ORTA’s message to our Board and STRS management regarding the COLA.
First, ORTA is pleased that STRS management and our board have worked diligently to provide a framework for benefit restoration. This plan has two components, a De-Minimis and Sustainable Benefit Plan, which were discussed in last week's update. ORTA truly appreciates the work and thoughtfulness put into this plan. ORTA has one significant problem, however, which ORTA publicly shared with the Board and management. Here is the problem: the De-Minimis alone is enough to cover a one-time 2% COLA, yet retirees didn’t see a 2% COLA for this year, or last year.
ORTA pointed out that section 3307.67 of the Ohio Revised Code requires granting a 2% COLA if the Board’s actuary determines there are adequate funds to grant the COLA. The Board’s actuary has determined the monies were there, but the Ohio code was ignored. ORTA has requested a response as to why.
My best and ORTA will continue to work for the interest of our members
Dean Dennis, Chair
ORTA Executive Committee
ORTA Weekly Update: May 23, 2026
Greetings ORTA Members,
It was an interesting week, though there was still no news on the Glennetta Krause case. Again, no news is good news because it maintains the Board’s current composition.
On May 14th, the Ohio Retirement Study Council (ORSC) held its monthly meeting, where each of the five pension systems in Ohio was to report its Fiscal Year 2027 budget. When STRS Director Toole presented the STRS fiscal year 2027 budget, he projected a 9.8% increase. The increase did not appear to be well-received by the ORSC Chair, Adam Bird. Chair Bird ended the STRS presentation by saying he wasn’t happy with the 9.8% increase and hoped our Board would take a close look at the budget. The discussion can be heard on the Ohio Channel (go to the 49-minute mark if you are interested). Six days later, on May 20, 2026, at the STRS Board meeting, members learned that the STRS 2027 Fiscal Year Budget has since been reduced to a 6.2% increase.
Also happening at the May 20, 2026, STRS meeting was ORTA’s message to our Board and STRS management regarding the COLA.
First, ORTA is pleased that STRS management and our board have worked diligently to provide a framework for benefit restoration. This plan has two components, a De-Minimis and Sustainable Benefit Plan, which were discussed in last week's update. ORTA truly appreciates the work and thoughtfulness put into this plan. ORTA has one significant problem, however, which ORTA publicly shared with the Board and management. Here is the problem: the De-Minimis alone is enough to cover a one-time 2% COLA, yet retirees didn’t see a 2% COLA for this year, or last year.
ORTA pointed out that section 3307.67 of the Ohio Revised Code requires granting a 2% COLA if the Board’s actuary determines there are adequate funds to grant the COLA. The Board’s actuary has determined the monies were there, but the Ohio code was ignored. ORTA has requested a response as to why.
My best and ORTA will continue to work for the interest of our members
Dean Dennis, Chair
ORTA Executive Committee
