STRS Member Contribution Rate Increase on July 1

Pension reform legislation passed in 2012 included increasing the member contribution rate to 14 percent. This increase has been phased in 1 percent per year. The final scheduled increase took effect on July 1, 2016, when the rate increases to 14 percent from 13 percent.

For State Teachers Retirement System of Ohio’s (STRS Ohio) Combined (CO) Plan participants, effective July 1, 2016, the member contribution rate of 14 percent will have 12 percent allocated to the member’s Defined Contribution (DC) account and 2 percent allocated to the Defined Benefit (DB) portion of the CO Plan.

Further information about the STRS Ohio investment allocation options can be found in the Investment Options Guide, available in the Publications section of the STRS Ohio website at www.strsoh.org

POSTED: Friday, July 01, 2016 08:36 AM
UPDATED: Saturday, December 03, 2022 01:02 AM
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Payroll announces when you can expect your w2 tax form, winners from the raffle for opting into electronic tax forms, and more!

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Kent State University is responsible for the stewardship of university resources and is committed to the highest standards of fiscal responsibility. The reporting line provides a formalized mechanism to communicate concerns related to fraud and fiscal abuse. 

Human Resources announces additional “Know Your Numbers” biometric screenings on Feb. 8 and Feb. 21 in Heer Hall Room 107, Kent Campus. There are appointments from 7:30 a.m. to 10:15 a.m. Times are filling up quickly so register today!