Minnillo & Jenkins is proud to represent retired Ohio educators challenging the indefinite elimination of cost of living increases on pension benefits by the Ohio State Teachers Retirement System. On May 23, 2019, Minnillo & Jenkins, together with two other firms, filed a class action complaint in federal court challenging the STRS Board’s decision to indefinitely eliminate cost of living allowances, also known as COLAs, on retirees’ pension benefits.
Prior to the STRS Board’s 2017 decision, Ohio law mandated annual increases in STRS pension benefits of at least two percent. But in 2017, the STRS Board decided to “adjust” COLAs to zero, indefinitely. As a result, pension benefits will remain flat and fall behind inflation, leaving many retired teachers in difficult financial situations as their expenses increase but their incomes stagnate. The lawsuit contends that the STRS Board failed to comply with Ohio law requiring a determination by the STRS actuary in a public report that an adjustment to the COLA was necessary to preserve the fiscal integrity of the plan. The lawsuit alleges that no such determination was included in any of the public reports required by Ohio law. The lawsuit seeks reinstatement of COLAs and payment of foregone COLAs, plus attorney fees and other relief.
You can read more about this lawsuit at the following links: