Submitted by WSURA board member Peggy Bott
OPERS is 80 percent funded and remains in compliance with the requirement that liabilities be funded for 30 years. Health care is 65 percent funded. The rate of return for 2016 was 8.23 percent compared to the STRS rate of return, which was 14.1 percent.
Member responses to the survey on adjustments to the proposed cost-of-living adjustment (COLA) change have not yet been tabulated yet. The options being considered are detailed in third quarter 2017 OPERS newsletter. It also explains that these changes would be proactive to ensure long-term stability. Any changes to the COLA would need legislative approval. This newsletter also has information on health care enrollment for 2018.
University of Akron has retired a $30,000,000 debt and come out of a financial crisis. There has been a 16 percent increase in enrollment this fall. Baseball has been reinstated as a varsity sport and Women’s Lacrosse was added. Many of the staff members that were laid off are being rehired. They also instituted a new scholarship program that will increase the dollar amount awarded to a student as the credits they earn increases. They even reported that their HR office is very helpful in providing information on employees as they retire.
Cleveland State University reported mainly on collaborations with different city entities, particularly in the Arts.
Bowling Green State University reported that fall enrollment is down 2.9 percnet. Some of this decline is due to a decrease in International graduate enrollment. Their retention rate has increased which has somewhat offset the enrollment decrease. The fall 2017 freshman class is the best prepared they have ever had with an average high school GPA of 3.3 and a 22 ACT score.