OH SB151

Changes the School Employees Retirement System (SERS) from required to discretionary annual cost-of-living adjustments for retirement, disability, and survivor benefit recipients.

Reduces the maximum allowable adjustment from 3% to 2.5%, based on the consumer price index for the 12-month period ending June 30 of the preceding calendar year.

Maintains existing provisions that no increase is granted for periods in which the consumer price index did not increase.

Preserves provisions for apportioning increases between alternate payees and retirants, and for distributing increases among designated beneficiaries under plan F.

Repeals existing section 3309.374 of the Revised Code in its entirety.