2. The system has more than $76 billion invested and earned 7.8 percent last year.
3. STRS was among the four public pension systems that under went a massive overhaul in 2012 to shore up its finances.
4. Pension benefits are prescribed by state law, not union contracts, and the liabilities are covered by employee and employer contributions as well as investment income.
5. STRS isn’t the only system looking to cut costs. The School Employees Retirement System of Ohio is asking lawmakers for permission to cut the cost of living allowance given to retirees and use that money to shore up funding for retiree health care. And the Ohio Police & Fire Pension Fund is considering eliminating subsidized health care and giving retirees a monthly stipend instead.
Related: Retiree health care cuts looming for cops and firefighters in Ohio