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The State Teachers' Retirement System of Ohio board voted 5-4 against approving a bonus plan for employees to applause from some of the current and retired teachers assembled at its meeting on Friday.
In another study, Equable Institute found that the total lifetime value of teacher pension benefits have declined by $100,000 on average (13%) since 2005. A teacher hired for the 2005 school year can expect to earn $768,000 in retirement benefits, where as a teacher hired for the 2023 school year can expect to earn $668,000. [19
Wikipedia [c] is a free content online encyclopedia written and maintained by a community of volunteers, known as Wikipedians, through open collaboration and the wiki software MediaWiki.
The State Teachers Retirement System of Ohio serves nearly 493,000 active, inactive and retired Ohio public educators. STRS Ohio is one of the largest public pension funds in the country.
The Ohio Federation of Teachers (OFT) is a statewide federation of unions in Ohio, affiliated with the American Federation of Teachers (AFT), AFL–CIO. The OFT represents more than 20,000 members in 54 local unions. Its members include public education employees, higher education faculty and support staff, and public employees.
The State Teachers Retirement System of Ohio is facing "a hostile takeover of a public pension by private interests," according to a 14-page anonymous memo that surfaced Wednesday.
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