Any teachers from Ohio?? Need help with retirement options.

[Bades]

Hi everyone, my girlfriend will be a fulltime teacher in the state of ohio working for a public school.

She doesn't know much about finances, investing, and retirement, so I'm trying to help her out

Could anyone help explain Ohio's pension for teachers. I actually heard Ohio's Retirement System (https://www.strsoh.org/) for teachers is one of the best in the nation.

I'm not sure how retirement systems work for the public sector since I'm more attuned to the private sector.

Should she also consider opening up like a Roth IRA sometime, or are pensions good enough?

Thanks guys!

[Joan.of.the.Arch]

Sorry, but I only have general advice.

I would say she should start by reading the entire website you just linked. If she does she will find that there are both individual counseling and group seminars available to learn and help her make decisions. There may be an initial seminar offered for all new hirees. Do not skip that.

Certainly those of us who do not even live in Ohio are aware that your state is in a state of flux with regard to hiring, work benefits, and retirement plans. It is something your GF should keep up with because it is going to affect her.

She should register for email updates on the retirement system if that is available. If your email can be added, do so, since you wish to help her. Encourage her to really keep up with it, not to just turn her back on it assuming that all will turn out well in the end.

I think a top question in her mind should be, "In addition to any mandatory contributions to the retirement fund, what other retirement investment opportunities does the school system offer?"