Boards and Commissions

Ohio Legislative Service Commission

State Teachers Retirement Board

Status	Type of Board	Full-time	Expiration Date
Current	Permanent	No

Subject to Sunset Review	Partisan Affiliation Restriction	Senate Confirmation Required
No	No	No

Authority	Total Membership
R.C. 3307.05	11

Dates of Appointment		Term Length
Not specified		4 years for teacher, retired teacher, investment designee, and investment expert members;term of office for ex officio member

Ending Date Of Term	Report Requirements
August 31 for teacher and retired teacher members	--To the Ohio Retirement Study Council (ORSC) and the House and Senate standing committees (the committees) responsible for retirement legislation: (1) Annual actuarial valuation report, not later than January 1 following the year for which the valuation was made; (2) Actuarial investigation of mortality and service report, at least quinquennially not later than May 1 following the last fiscal year of the period the report covers; (3) Report regarding unfunded actuarial accrued pension liability, not later than 90 days after receipt of a valuation indicating that more than a 30-year amortization period is needed; (4) Annual health benefits cost report, not later than December 31 following the year for which the report was made. --Actuarial analysis of retirement legislation having measurable financial impact, to the Legislative Service Commission, ORSC, and the committees, not later than 60 days from the date the legislation was introduced. --Annual report to the Governor, ORSC, and the committees of the disability retirement experience of each employer, by September 1. --Annual gift disclosure report to the Ohio Ethics Commission (by date set by the Commission). --Annual reports (date not specified) to the ORSC regarding: (1) The committee to oversee selection of internal auditors; (2) The agents executing securities transactions; (3) Investment managers.

Ending Date Of Term

Report Requirements

August 31 for teacher and retired teacher members

--To the Ohio Retirement Study Council (ORSC) and the House and Senate standing committees (the committees) responsible for retirement legislation: (1) Annual actuarial valuation report, not later than January 1 following the year for which the valuation was made; (2) Actuarial investigation of mortality and service report, at least quinquennially not later than May 1 following the last fiscal year of the period the report covers; (3) Report regarding unfunded actuarial accrued pension liability, not later than 90 days after receipt of a valuation indicating that more than a 30-year amortization period is needed; (4) Annual health benefits cost report, not later than December 31 following the year for which the report was made. --Actuarial analysis of retirement legislation having measurable financial impact, to the Legislative Service Commission, ORSC, and the committees, not later than 60 days from the date the legislation was introduced. --Annual report to the Governor, ORSC, and the committees of the disability retirement experience of each employer, by September 1. --Annual gift disclosure report to the Ohio Ethics Commission (by date set by the Commission). --Annual reports (date not specified) to the ORSC regarding: (1) The committee to oversee selection of internal auditors; (2) The agents executing securities transactions; (3) Investment managers.

Appointment Authority	Membership Composition
Governor, Other, Senate President, Speaker	Members with other stated qualifications, State agency employees

Compensation		Staff Assistance
Expense Reimbursement, Other		Own staff

Chairperson	Additional Information
Elected by Board from among its membership	The Board is exempt from Sunset Review per R.C. 101.82(A)(14).

Qualifications
(1) The Director of Education and Workforce or a designee of the Director. (2) The Chancellor of Higher Education or a designee of the Chancellor. (3) Two members, known as the Treasurer of State's Investment designees, appointed by the Treasurer of State for a term terms of four years. These appointees may not be currently employed by the state or a political subdivision of the state, and may not have contributions on deposit with the state teachers retirement system. (4) Four members, known as the investment expert members, appointed for four-year terms. One of which appointed by the Governor, one jointly appointed by the Speaker of the House of Representatives and the President of the Senate, one appointed by the Speaker of the House of Representatives, and one appointed by the President of the Senate. These appointees may not have contributions on deposit with the state teachers retirement system. All appointees and designees listed in (1) through (4) much be residents of his state, must have not, within 3 years immediately preceding appointment, been employed by the public employees retirement system, police and fire pension fund, state teachers retirement system, school employees retirement system, or state highway patrol retirement system or by any person, partnership, or corporation that has provided to one of those retirement systems services of a financial or investment nature, including the management, analysis, supervision, or investment of assets, and must have direct experience in the management, analysis, supervision, or investment of assets. (5) Two members, known as contributing members, who shall be members of the state teachers retirement system. (6) One former member of the system, known as the retired teacher member, who shall be superannuate.

Qualifications

(1) The Director of Education and Workforce or a designee of the Director.

(2) The Chancellor of Higher Education or a designee of the Chancellor.

(3) Two members, known as the Treasurer of State's Investment designees, appointed by the Treasurer of State for a term terms of four years. These appointees may not be currently employed by the state or a political subdivision of the state, and may not have contributions on deposit with the state teachers retirement system.

(4) Four members, known as the investment expert members, appointed for four-year terms. One of which appointed by the Governor, one jointly appointed by the Speaker of the House of Representatives and the President of the Senate, one appointed by the Speaker of the House of Representatives, and one appointed by the President of the Senate. These appointees may not have contributions on deposit with the state teachers retirement system.

All appointees and designees listed in (1) through (4) much be residents of his state, must have not, within 3 years immediately preceding appointment, been employed by the public employees retirement system, police and fire pension fund, state teachers retirement system, school employees retirement system, or state highway patrol retirement system or by any person, partnership, or corporation that has provided to one of those retirement systems services of a financial or investment nature, including the management, analysis, supervision, or investment of assets, and must have direct experience in the management, analysis, supervision, or investment of assets.

(5) Two members, known as contributing members, who shall be members of the state teachers retirement system.

(6) One former member of the system, known as the retired teacher member, who shall be superannuate.