Sustainable Benefit Plan (SBP) Decision Matrix
"The State Teachers Retirement Board today unanimously approved a strategic decision-making framework that will guide how future resources may be allocated to strengthen the pension fund and responsibly adjust benefits for Ohio’s educators and retirees in accordance with Ohio law. The framework establishes clear funding benchmarks and governance guardrails to ensure benefit decisions are made deliberately, transparently, and with long-term sustainability as the priority. Developed through extensive collaboration among board members, staff, actuaries and independent advisors, the framework provides a consistent roadmap for future discussions while maintaining a strong margin against fiscal impairment." - STRS Ohio, March 19, 2026
Robin Rayfield addressed the STRS Board regarding the new SBP Decision Matrix
I want to congratulate the STRS board on your development and implementation of the recent ‘SBP decision matrix.’ This template provides what ORTA has been requesting since 2018. In dozens of my comments to the STRS board we have asked for a pathway to restoration of inflation protection, or a specific plan for restoring the COLAs promised by STRS and guaranteed by Ohio law.
The SBP decision matrix details the conditions that must exist for restoration of benefits lost since 2017. Although the restoration process is far behind what was promised, the policy in place now does outline the restoration process.
And although ORTA is appreciative of the effort to bring consensus to the board on the reform process, I hope that the current decision matrix is the first phase of this pathway to benefits restoration. I am hopeful that the matrix will continue to evolve over time. Specifically, when conditions allow for benefit restoration, I hope that the three competing allocations for SBP funds will be revisited. ORTA agrees that all three competing interests are important; restoration of benefits lost through prior pension reforms, addressing the years of service concerns, and strengthening the pension are all important. In the current matrix, strengthening the pension is valued over any benefits to retirees or active contributors. We acknowledge that retirees did receive a larger allocation of the available SBP than the active contributors received, however the amount set aside for benefits restoration is less than ORC 3307.67 calls for. ORTA believes that using 50% of the SBP money available for strengthening the pension needs to be reduced. In round figures an additional $200 million paid toward restoring benefits to retirees and $200 million less dedicated to strengthening the pension would have fulfilled STRS’s obligation to follow ORC 3307.67 and still allowed $1 billion for strengthening the pension.
Recognizing that there will be years in the future that the amount of money available will be less than what was available this year, it is important that the priority of protecting STRS members (active and retired) be prioritized over satisfying politicians that have little regard for our retirement system.
Dr. Robin Rayfield, Executive Director
Ohio Retirement for Teachers Association
May 20, 2026