2011.09.14 Russ Griggs: What you don't hear about retirement

Written by David Green.

Earlier this month, the Buckeye Institute issued a report entitled, “Taxpayers on the Hook: Taxpayer Contribution Rates for Ohio Government Pensions Outpace National Averages.” The report claimed that the Ohio Teacher Retirement employer rate (the part the board pays) was ninth highest out of the 34 states with teacher retirement programs. The Report left out the fact that 22 of those states contribute to Social Security in addition to teacher retirement plans.

Ohio teachers do not belong to Social Security. They contribute 10 percent of their earnings to the state system, STRS. Combined with the 14 percent paid by the school board, as part of their compensation, adds up to 24 percent going into their retirement plan. Social Security members pay less than half that amount, and their employers pay less than 50 percent, soon to be further reduced.

When you compare Ohio to other states with retirement plans, not participating in Social Security, Ohio is 20th out of 34 states, being well below average. Of the 22 states with both Social Security and retirement systems, 18 are above the 14 percent paid in Ohio. It takes more than modern math to make 20 out of 34 and 18 out of 22 above average. (Unless you hold the chart upside down)

I started teaching in Maryland in 1974. My starting pay was twice what teachers were starting at in Ohio. During my entire career I made significantly less than educators in Michigan and Pennsylvania. The difference was Ohio having a retirement system that invested a much greater percent of my compensation resulting in a much better retirement. 

STRS has recommended changes to the legislature to keep the system solvent for many years to come. Can the same be said of Social Security? 

(Statistics above are from the Ohio State Retirement System) 

– Russ Griggs

Fayette Superintendent

  • Front.train
    WRECKAGE—Morenci Fire Department member Taylor Schisler walks past the smoking wreckage of a semi-truck tractor on the north side of the Norfolk and Southern Railroad tracks on Ranger Highway. The truck trailer was on the south side of the tracks
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    SCULPTORS—Morenci third grade students Emersyn Thompson (left) and Marissa Lawrence turn spaghetti sticks into mini sculptures Friday during a class visit to Stair District Library. All Morenci Elementary School classes recently visited the library to experience the creative construction toys purchased through the “Sculptamania!” project, funded by a Disney Curiosity Creates grant. The grant is administered by the Association for Library Services to Children, a division of the American Library Association.
  • Funcolor
    LEONIE LEAHY was one of three local hair stylists who volunteered time Friday at the Morenci PTO Fun Night. Her customer, Aubrey Sandusky, looks up at her mother while her hair takes on a perfect match to her outfit. Leahy said she had a great time at the event—nothing but happy clients.
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    LEARNING THE ROPES—Kristy Castillo (left), co-owner of Mane Street Salon, works with Kendal Kuhn as Sierra Orner takes a phone call. The two Morenci Area High School juniors spent Friday at the salon as part of a job shadowing experience.
  • KayseInField
    IN THE FIELD—2004 Morenci graduate Kayse Onweller works in a test plot of wheat in Texas. She’s part of Bayer CropScience’s North American wheat breeding program based in Nebraska, where she completed post-graduate work in plant breeding and genetics.
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    REFEREE Camden Miller raises the hand of Morenci Jr. Dawgs wrestler Ryder Ryan as his opponent leaves the mat in disappointment. Morenci’s youth wrestling program served as host for a tournament Saturday morning to raise money for the club. Additional photos are on the back page.
  • Front.bank.2
    SHERWOOD STATE Bank opened its Fayette office at a grand opening Friday morning, drawing a large crowd to view the renovated building. Above, Burt Blue talks to teller Cindy Funk, while his wife, Jackie, looks around the new office. The Blues missed the opening and took a quick tour on Tuesday. Few traces remain of the former grocery store and theater, however, part of the original brick wall still shows in the hallway leading to the back of the building. The drive-through window should be ready for customers later in the month.
  • Front.make.three
    FROM THE LEFT, Landon Wilkins, Ryan White and Logan Blaker try out their artistic skills Saturday afternoon at the Morenci PTO’s first Date to Create event. More than 50 people showed up to create decorated planks of wood to hang from rope. The event served as a fund-raiser for miscellaneous PTO projects. Additional photos are on the back of this week’s Observer.

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