SERS Board Issues Pension Freeze in Ohio

(Columbus, OH) Some retired state workers are getting their pensions frozen. 

The School Employees Retirement System (SERS) is issuing a three-year freeze on cost-of-living increases starting in January. That will affect about 75,000 non-teaching retirees across Ohio, such as custodians, bus drivers, and cafeteria workers. 

Another 125,000 people eligible for the system will see the same three-year freeze in the future. 

The SERS board made the decision Monday in order to keep the retirement system financially viable. Health benefits, though, won't be affected.

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