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Monthly Benefit Payments Direct Deposit Dates
March* 03/01/2018
April 03/30/2018
May 05/01/2018
June* 06/01/2018
July 06/29/2018
August 08/01/2018
September* 08/31/2018
October 10/01/2018
November 11/01/2018
December* 11/30/2018

*Direct deposit notice or check stub will be mailed to all benefit recipients.

You will receive a check stub whenever there is a change to your benefit, such as health care premium change, a tax withholding change, or a bank account change.

SERS strongly encourages all retirees to have their pension payments paid directly to a bank or credit union. Direct deposit of your funds is the only way to assure that your payment will be available on the first of every month. Direct deposit eliminates any concerns about late, lost, or stolen checks. Since pension checks cannot be forwarded, direct deposit also eliminates delays when you travel during retirement. It is your responsibility to make sure the funds are in your account before writing checks against your account.

If you do not enroll in direct deposit, there is no guarantee that you will receive your payment right on the first of every month. Delivery delays might occur that are beyond SERS’ control, such as lost or stolen checks. You must wait 10 days after the expected delivery date before SERS can begin the process of stopping payment and issuing a new check. This delay will not occur if you have direct deposit.


(2/14/18) - The Internal Revenue Service (IRS) is warning taxpayers of a growing scam targeting tax preparers.

Scammers steal sensitive client data from tax preparers and use it to file fraudulent tax returns. The tax refunds are then deposited into taxpayers’ real bank accounts. The scammers will follow up by calling and posing as debt collection agency representatives, informing taxpayers of a refund deposited in error and asking them return the money. 

If you file your taxes electronically, and the return is rejected because one has already been filed with your Social Security number, you may be a victim of this tax preparer data breach.

  [Read More...]

The IRS has outlined the steps you need to take if you are affected by the scam and need to return an erroneous tax refund to them:

If the erroneous refund was via direct deposit:

  1. Contact the Automated Clearing House (ACH) department of the bank/financial institution where the direct deposit was received and have them return the refund to the IRS.
  2. Call the IRS toll-free at 800-829-1040 (individual) or 800-829-4933 (business) to explain why the direct deposit is being returned.

If the erroneous refund was a paper check and hasn't been cashed:

  1. Write "Void" in the endorsement section on the back of the check.
  2. Submit the check immediately to the appropriate IRS location listed below. The location is based on the city (possibly abbreviated) on the bottom text line in front of the words TAX REFUND on your refund check.
  3. Don't staple, bend, or paper clip the check.
  4. Include a note stating, "Return of erroneous refund check because (and give a brief explanation of the reason for returning the refund check)."

The erroneous refund was a paper check and you have cashed it:

  • Submit a personal check, money order, etc., immediately to the appropriate IRS location listed below.
  • If you no longer have access to a copy of the check, call the IRS toll-free at 800-829-1040 (individual) or 800-829-4933 (business) (see telephone and local assistance for hours of operation) and explain to the IRS representative that you need information to repay a cashed refund check.
  • Write on the check/money order: Payment of Erroneous Refund, the tax period for which the refund was issued, and your taxpayer identification number (social security number, employer identification number, or individual taxpayer identification number).
  • Include a brief explanation of the reason for returning the refund.
  • Repaying an erroneous refund in this manner may result in interest due the IRS.

For the nearest IRS office to return paper checks, visit the IRS website.

(2/1/18) – Yesterday, the School Employees Retirement System of Ohio (SERS) was named as a defendant in a lawsuit brought by the Ohio Association of Public School Employees (OAPSE).
While SERS’ legal team is still reviewing the details of the lawsuit, we believe that all actions taken by SERS regarding the changes to the cost-of-living adjustment (COLA) were legal and prudent. 
We are confident that the actions taken by the Board and the Legislature are in the best interest of SERS and its members and retirees and we will prevail in this action.
  [Read More...]
For nearly two years, SERS held several open meetings with representatives from all advocacy groups, including OAPSE, to discuss possible benefit changes and their effects on SERS and its membership. We modeled the effects of numerous combinations of changes before deciding on the COLA changes that were implemented. We are disappointed that OAPSE’s opposition to these changes was not registered during the open process when they could have been addressed with input from all interested parties.

(1/30/18) – On January 23, 2018, SERS became aware of fraudulent activity on the online member portal. SERS immediately shut down the online portal and began investigating.

Through our investigation, we have determined that this is not a breach situation on the part of SERS. Rather, the intruders established new online accounts for 21 retirees using personal information that was stolen during the data breaches of other companies. The intent was to redirect pension payments to an online bank account that only they could access. We believe our investigation of the fraudulent activity has been thorough and that we have contacted everyone affected. 

If you established your own online account, it is highly unlikely you are affected. However, you should check your account just to be sure. As a precaution, SERS locked down numerous accounts that had recent activity or similarities to other accounts that were fraudulently accessed. We don’t believe these accounts were affected, and all you have to do is call us at 800-878-5853 to reopen the account.

  [Read More...]

(1/29/18) - The Internal Revenue Service (IRS) has updated the income-tax withholding tables for 2018. The updated percentage method tables reflect changes in tax rates and tax brackets, and will be effective on your February 1, 2018 check. The withholding information is posted on

  [Read More...]

How Does This Affect Me?

Depending on your tax bracket and number of allowances on your W-4P form, your retirement payment may be more or less than previous months. Review your 2017 payment stub and compare it to a 2018 payment stub for the change.


(1/2/18) - The Comprehensive Annual Financial Report (CAFR) contains detailed information about SERS’ financial operations, which include major initiatives and highlights, investments, and funding for the period from July 1, 2016 to June 30, 2017.

  [Read More...]

The Summary Annual Financial Report (SAFR) is an overview of the financial health, investment performance, demographics, and key accomplishments of the last fiscal year.

Both the CAFR and SAFR are now available.


(1/2/18) - The Internal Revenue Service has issued a warning to taxpayers and tax professionals of a new email scam targeting Hotmail users.

The phishing email subject line reads: "Internal Revenue Service Email No. XXXX | We’re processing your request soon | TXXXXXX-XXXXXXXX." The email takes taxpayers to a fake Microsoft page, where they are asked to sign in and enter personal and financial information. 

The IRS has received more than 900 complaints so far. 

If you receive an unsolicited email claiming to be the IRS, forward it to and delete it. Remember, the IRS usually does not contact taxpayers via email to request personal or financial information. 

  [Read More...]

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Contact Congress Regarding Important Issues Affecting SERS Retirees

Contacting your legislators is easy using SERS' Legislative Action Alert. By entering your ZIP code, you’ll have access to the contact information (e-mail address, phone number, and mailing address) of your federal legislators.


Monthly Administrative Expense Reports

The Monthly Administrative Expense Reports contain information about SERS' day-to-day operating expenses and is provided in both summary and detail formats.

Click here to view these administrative expense reports.

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