The State Teachers Retirement System of Ohio covers public school teachers and many university faculty. Most members are in the Defined Benefit Plan, which pays a lifetime pension using one multiplier and a table that sets how much you get if you retire before the unreduced point.
The formula
Your yearly pension is 2.2% of your final average salary for each year of service credit. Final average salary is the average of your five highest years of Ohio public earnings. A teacher with 32 years and a $75,000 final average gets 70.4% of $75,000, which is $52,800 a year or $4,400 a month.
When the benefit is unreduced
For retirements from June 1, 2025 through May 1, 2035, STRS Ohio pays the full formula if you have 32 years of service at any age, or if you are 65 with at least 5 years. Years beyond 32 keep adding 2.2% each, up to 100% of final average salary.
Retiring earlier: the benefit table
If you retire before either point, STRS Ohio pays a set percentage of final average salary from its benefit calculation table. With fewer than 27 years you can retire from age 60, and the percentage climbs with each year you wait. With 27 to 31 years you can retire younger at a flat reduced percentage, and the amount starts rising again near 60 to 65.
| Years of service | Age 55 | Age 60 | Age 62 | Age 65 |
|---|---|---|---|---|
| 20 | not eligible | 28.2% | 33.4% | 44.0% |
| 25 | not eligible | 35.2% | 41.8% | 55.0% |
| 28 | 43.1% | 43.1% | 46.8% | 61.6% |
| 30 | 54.8% | 54.8% | 54.8% | 66.0% |
| 31 | 62.1% | 62.1% | 62.1% | 68.2% |
| 32 | 70.4% | 70.4% | 70.4% | 70.4% |
The jump from 31 to 32 years is the biggest step in the table. A teacher at 55 with 31 years would get 62.1% by retiring now and 70.4% by working one more year, a 13% bigger pension for life. The pension estimate calculator uses the full table, so you can check any age and service mix.
Contributions
Members contribute 14% of pay to STRS Ohio, one of the highest rates in the country. That is partly because Ohio teachers do not pay into Social Security, so the pension carries the whole retirement load.
COLA
STRS Ohio’s cost-of-living adjustment is set by its board based on the fund’s finances, and it has changed several times since 2017. Plan on the benefit staying flat unless the board grants an increase, and check the current year’s decision before you retire.
Social Security
Ohio public school teachers do not pay Social Security on their teaching pay. Since the Social Security Fairness Act, any Social Security you earned from other jobs or through a spouse is paid without the old WEP and GPO cuts. Use the pension and Social Security calculator to add the two together.