School Employees Retirement System of Ohio remains focused on retirement security for Ohio’s public school employees, with several important developments shaping the system in 2026. The latest updates include new executive leadership, changes to retiree health care costs, the 2026 cost-of-living adjustment, and an upcoming employee-member Board election.
The retirement system serves employees who support Ohio’s K–12 schools, community schools, and community colleges. Its membership includes nonteaching employees such as bus drivers, custodians, cafeteria workers, secretaries, administrative staff, maintenance employees, teacher’s aides, and school business personnel.
New Executive Director Takes the Helm
One of the most significant developments this year is the change in executive leadership.
The SERS Board announced Ray Higgins as its next executive director on June 1, 2026. Higgins joined the organization in July, succeeding Richard Stensrud, who retired after nine years as executive director.
Higgins arrived with extensive public retirement-system experience. Before joining SERS, he served as executive director of Mississippi’s Public Employees’ Retirement System, a system with approximately $39 billion in assets. He held that position for eight years.
His earlier public-sector career included nearly two decades with the State of Georgia. His roles there included deputy director and chief operating officer of the Employees’ Retirement System of Georgia, as well as deputy commissioner for the state’s Department of Early Care and Learning.
SERS currently lists Higgins as executive director. The organization says he has overall accountability for its affairs, investment performance, and operational and financial performance.
The leadership transition comes as the pension system continues its work on member services, investments, health care, and long-term financial management.
SERS Serves More Than 160,000 Active Members
The system is a defined-benefit public pension plan. It provides retirement allowances along with disability and survivor benefits and access to health care coverage for qualifying recipients.
SERS reported 165,280 active contributing members and 83,327 benefit recipients in fiscal year 2025. During that fiscal year, the system paid more than $1.5 billion in pension and health care reimbursements.
The system also has a significant economic connection to Ohio. SERS reported that 91% of its retirees live in Ohio, with nearly $1.4 billion of its fiscal-year payments flowing back into the state’s economy.
For members, the defined-benefit structure means retirement planning is tied to service credit, compensation, eligibility rules, and the pension formula rather than simply the balance of an individual investment account.
Active members can use their online SERS accounts to review account information, check service credit, update personal details and beneficiaries, create retirement estimates, and begin certain retirement or refund applications.
2026 Cost-of-Living Adjustment Is 2.5%
Retirees are also seeing the effect of the system’s 2026 cost-of-living adjustment.
The SERS Board approved a 2.5% COLA for eligible benefit recipients in 2026. The Board approved the maximum amount permitted under the applicable statutory formula.
SERS calculates the COLA using the year-to-year change in the Consumer Price Index for Urban Wage Earners, measured from June to June. The adjustment has a statutory floor of 0% and a maximum of 2.5%.
The 2026 adjustment becomes effective on the benefit anniversary of an eligible recipient’s retirement date.
There is also a waiting period for certain newer retirees. Benefit recipients whose effective benefit date is on or after April 1, 2018, generally must reach the fourth anniversary of their allowance or benefit before receiving a COLA.
The 2.5% increase is therefore an important consideration for eligible retirees reviewing their monthly income during 2026.
2026 Retiree Payment Schedule
SERS continues to issue monthly retirement payments. After the initial payment, a pension payment is generally deposited on the first day of each month.
When the first day falls on a weekend or holiday, the payment is made available on the preceding business day.
The published 2026 payment schedule includes:
| Benefit Month | Payment Date |
|---|---|
| January | January 2, 2026 |
| February | January 30, 2026 |
| March | February 27, 2026 |
| April | April 1, 2026 |
| May | May 1, 2026 |
| June | June 1, 2026 |
| July | July 1, 2026 |
| August | July 31, 2026 |
| September | September 1, 2026 |
| October | October 1, 2026 |
| November | October 30, 2026 |
| December | December 1, 2026 |
SERS currently lists September 1 as the next retiree payment date.
Retirees can use their online account to review payment history, see upcoming payments, update direct-deposit information, and change tax withholding.
Health Care Costs Changed for 2026
Health care remains a major part of retirement planning for eligible SERS recipients.
For 2026, SERS changed several health care premiums and related provisions. The Aetna Medicare Plan PPO premium was reduced by $20 per month for all enrollees, while plan benefits and pharmacy copayments remained the same.
Premiums also increased for two non-Medicare plans. The full premium rose 3% for Aetna Choice POS II and 4% for AultCare PPO. The listed benefits and pharmacy copayments remained unchanged.
The SERS Marketplace Wraparound Health Reimbursement Arrangement also received an increase. The annual family HRA limit rose to $2,200, compared with $2,150 previously.
For members who qualify for SERS health care coverage, these changes can affect retirement budgeting and monthly expenses.
SERS states that eligibility for health care coverage generally requires at least 10 years of qualified service credit. Certain service from other Ohio public retirement systems can count toward qualified service credit when the applicable requirements are met.
2026 Non-Medicare Premiums
For eligible recipients who are not yet on Medicare, 2026 monthly premiums vary according to qualified service credit and whether a recipient receives a premium subsidy.
The published rates include:
| Plan | No Subsidy | 20 Years | 25 Years | 30 Years |
|---|---|---|---|---|
| Aetna Choice POS II | $1,671 | $853 | $526 | $362 |
| AultCare PPO | $1,228 | $632 | $393 | $274 |
Recipients without a premium subsidy must pay the full applicable premium.
For Medicare-eligible recipients enrolled in Medicare Parts A and B, the 2026 Aetna Medicare Plan PPO premium is listed at $178 without a subsidy. The monthly premium falls to $97 with 20 years of qualified service credit, $64 with 25 years, and $48 with 30 years.
Dental and vision coverage also has separate premiums. For 2026–27, the monthly dental premium is $33.56 for a benefit recipient, while the vision premium is $6.81. Higher rates apply when dependents are included.
Health Care Open Enrollment Status
The 2026 SERS open enrollment period has ended. The system says fall 2027 will be the next opportunity for eligible benefit recipients to enroll in or cancel dental and vision coverage during the regular biennial enrollment process.
The 2026–27 dental and vision enrollment period runs through December 31, 2027 for those who enrolled. SERS states that participants generally must remain enrolled through that date and continue paying the applicable monthly premiums.
Members approaching retirement should therefore review their eligibility, service credit, Medicare status, and available health care options before making retirement decisions.
SERS Financial Position Remains a Key Focus
The financial condition of the pension system continues to receive attention as SERS manages pension obligations, investments, contributions, and health care costs.
Its latest GASB Statement No. 68 information, prepared using June 30, 2025 measurements, reported total pension liability of approximately $24.58 billion and fiduciary net position of approximately $20.14 billion. The resulting net pension liability was approximately $4.44 billion.
The same report placed fiduciary net position at 81.93% of total pension liability. It also reported a 7.00% single equivalent interest rate based on the long-term expected rate of return.
These figures are important financial reporting measures, but they should not be confused with an individual member’s account balance or monthly retirement benefit.
SERS also continues to manage a large investment portfolio designed to support benefits over the long term.
Wilshire Associates Continues as Investment Consultant
Investment oversight is another significant part of the system’s current activity.
In May 2026, the SERS Board unanimously selected Wilshire Associates to continue serving as the system’s investment consultant. The new five-year contract began August 1, 2026.
Wilshire has worked with SERS since July 1, 2016. Under the new arrangement, the firm continues working with SERS investment staff and reporting directly to the Retirement Board.
The continuation of the investment relationship comes as SERS enters a new phase under Ray Higgins and maintains its focus on long-term retirement security.
Board Election Opens a New Opportunity for Members
SERS also announced an employee-member Board seat election in August.
One employee-member seat is available for a four-year term beginning July 1, 2027, and ending June 30, 2031. SERS members can seek the position if they meet the eligibility requirements. Disability benefit recipients are excluded from eligibility to run for an employee-member seat.
Candidates must gather signatures from at least 500 SERS members. The petition must include at least 20 signers from each of at least 10 counties where those members are employed.
Petitions must be received by SERS no later than 4:30 p.m. Eastern Time on December 4, 2026. Electronic signatures also must be completed by that deadline.
The election ballot deadline is March 1, 2027, at 4:30 p.m. Eastern Time. The election results are scheduled to be announced March 2, 2027.
No August Board Meeting Is Scheduled
SERS follows a regular Board meeting schedule, but August is one of the months without a regular Board meeting.
The system states that the Retirement Board generally meets monthly except in January and August. The next scheduled regular Board meeting after the summer break is September 17, 2026.
The July 16 meeting was the latest regular Board meeting listed before the August break. September’s meeting is expected to provide the next regular opportunity for Board-level actions and updates.
What SERS Members Should Watch Now
For active members, retirees, and benefit recipients, several developments deserve attention during the remainder of 2026.
The most important areas include:
- The transition to Ray Higgins as executive director.
- The 2.5% 2026 COLA for eligible recipients.
- Current health care premiums and coverage provisions.
- The September 1 retiree payment date.
- The employee-member Board election process.
- Upcoming September Board activity.
- Long-term pension funding and investment performance.
SERS also provides online tools that allow members to review their personal retirement information. Active members can access service credit and retirement estimates, while retirees can review payment details and update direct-deposit or tax-withholding information.
What the Latest Updates Mean for Ohio School Employees
The current picture shows a retirement system managing several major responsibilities at once. Leadership has changed, health care costs have been updated, the 2026 COLA is in effect for eligible recipients, and a new Board election cycle is underway.
For active employees, retirement planning remains closely connected to service credit and eligibility. For retirees, monthly payments, COLA rules, and health care expenses are among the most immediate considerations.
The system’s official resources remain the best place for members to verify individual account information because retirement eligibility, benefit amounts, health care eligibility, and payment details can vary from person to person.
As of August 18, 2026, the most recent confirmed developments include the appointment of Ray Higgins, the 2026 benefit and health care changes, the upcoming employee-member Board election, and the September return of regular Board meetings.
Stay informed about the latest SERS developments and share your thoughts or questions about Ohio retirement benefits in the comments below.