Ohio teachers have incentive to retire now

Ohio

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COLUMBUS, Ohio – Education leaders in Ohio are expecting a wave of teacher retirements in the coming months.

The Columbus Dispatch reports (http://bit.ly/T4fH9t) that changes in retirement rules will give teachers across the state a strong incentive to retire by July 1.

Teachers who retire in the first half of 2013 will begin receiving 2 percent cost-of-living increases to their pensions in 2015 while those who don’t must wait until 2018 to see increases.

Similar changes to the Ohio Public Employees Retirement System led to a big number of retirements at the end of 2012.

Officials with the School Employees Retirement System and the State Teachers Retirement System say they’ll have a good idea about the potential impact on retirements in a few months.