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ERIC Number: EJ765978
Record Type: Journal
Publication Date: 2007
Pages: 3
Abstractor: ERIC
Reference Count: N/A
ISBN: N/A
ISSN: ISSN-0190-2946
Postretirement Medical Coverage in Ohio
Adelman, Saul W.; Cross, Mark L.
Academe, v93 n3 p34-36 May-Jun 2007
The Ohio State Teacher Retirement System (STRS) provides retirement, survivor, and disability benefits to public school (K-12) teachers, college and university professors employed by state institutions, and the spouses and eligible dependents of these employees. In doing so, it operates much like other state retirement systems. The money to support the benefits comes from the pay of the teachers and professors (approximately 10 percent of payroll), employers (approximately 14 percent of payroll), and investment earnings on the contributions. The Ohio STRS is not required to provide retiree health coverage, but, like many other state teacher retirement systems, it subsidizes retiree health-care costs. The Ohio STRS began providing health coverage for retired teachers and their families in 1974. In the 1980s, as the cost of health care escalated, the state established a fund to help pay for future costs. Unfortunately, large increases in health-care costs, along with big declines in investment earnings since the early 2000s, are depleting the fund. Clearly, the Ohio STRS needs a new source of dedicated revenue to help offset the cost of retiree health care. In future years, if rising healthcare costs force the federal government to assume responsibility for the health care of people of all ages (that is, expand Medicare to all citizens), the uncertainty about funding retiree health care will be resolved. In the meantime, all states need to search for ways to make sure that those who retire from public employment have access to adequate health care. (Contains 1 note.)
American Association of University Professors. 1012 Fourteenth Street NW Suite 500, Washington, DC 20005. Tel: 800-424-2973; Tel: 202-737-5900; Fax: 202-737-5526; e-mail: academe@aaup.org; Web site: http://www.aaup.org
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Elementary Secondary Education; Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: Ohio