1. Board Training on Ohio’s Sunshine Laws

The Board received training on the Ohio Open Meetings Act and Public Records Act, emphasizing transparency, open sessions, and timely responses to public records requests.

2. U.S. Economic Conditions (May 2026)

U.S. GDP grew by 2.1% in Q1, driven by AI infrastructure, consumer, and government spending.
Job growth in June was below expectations, with gains in professional/business services, healthcare, and social assistance, but losses in manufacturing.
Headline inflation rose to 4.2% in May, the highest since June 2023.
Consumer sentiment remains low, with economic growth driven mainly by the wealthiest households.

3. SERS Portfolio Update

In May, global equities slightly exceeded their maximum allocation due to rapid appreciation, while fixed income and global real estate were slightly below their minimums.
Adjustments are being made in preparation for the FY2027 asset allocation.

4. Investment Committee Actions

Approved up to $50 million each for Marathon Asset-Based Lending Fund IV (private credit) and Stepstone VC Secondaries VII (private equity), funded from cash reserves.

5. Total Fund Performance

Fund balance increased from $22.86 billion (April 30) to $23.43 billion (May 31), a $570 million gain.
Net returns: Fiscal Year +16.04%, Calendar Year +7.89%, 3-Year +13.27%.
Returns exceeded benchmarks by 2.78% (FY), 2.00% (CY), and 1.67% (3-Year).

6. Key Performance Indicators (KPI) Dashboard

SERS is implementing a KPI dashboard using Spider Impact software to track over 350 metrics, aiming for better trend analysis, transparency, and decision-making.
Quarterly KPI reports will begin for July–September 2026. Efforts are underway to automate data collection and improve modeling accuracy.

7. Executive Director’s Update

Ray Higgins, new Executive Director, emphasized benefits, transparency, accountability, engagement, and sustainability.
SERS launched the Emerging Leaders Program to develop internal talent, with 15 staff from six departments participating. The program will recur every two years.

8. Retirement and Survivor Benefits

In July, 132 service retirements and 16 survivor benefits were approved.

9. Next Board Meeting

No meeting in August; next meeting scheduled for September 17, 2026, at 8:30 a.m.

Read the full July 2026 board meeting highlights HERE.

Overall state population trends include fewer school-age children growing up in the state, the Columbus Dispatch reports, with public and charter school enrollment dropping 10 percent from 2010 to fall 2025. The enrollment at private schools was also dropping from 2010 until 2022, when voucher access was expanded by the Legislature. The trend affects budgeting calculations and raises the question whether rural schools should be consolidated. Read more HERE.

Trust fund reserves could run out by 2032–2033, leading to automatic benefit cuts exceeding 20% unless Congress acts. Potential fixes debated: Options include raising payroll taxes, lifting the wage cap, increasing retirement age, or reducing benefits — all politically unpopular. Read the full article HERE.

As school systems look to mitigate their financial woes, some are turning to a new idea for levy funding: an earned income tax levy. Read the full article HERE.

What if the state of Ohio could walk into your local school district, decide it wasn’t performing well enough, and hand the building — the one your tax dollars built — over to a private charter operator? Read the full article HERE.

Ohio public school districts continue to be desperate for bus drivers, while the status of school transportation as a whole is being debated by public and private schools alike. Read the full article HERE.

We are currently tracking the following legislation that may be impactful to SERO and to you. When member action is necessitated, as determined by the SERO Executive Board, we will reach out with directives. You may always track any of this yourself and reach out to the SERO office and/or Board members to share your thoughts.

A security expert provides insight into how to avoid (and deal with) an impostor law enforcement scenario. Read the full article HERE.

Senior travel is reshaping global tourism. Discover how US destinations like Florida and Arizona are leading the charge in accessibility, comfort, and healthcare-ready infrastructure for aging travelers in 2026. Read the full article HERE.

In a rare show of bipartisan agreement, both the U.S. House and the Senate have voted to approve bills aimed at battling fraud — especially scams aimed at older adults. Read the full article HERE.

The Voice of Working and Retired School Employees ohio-sero.com

The Voice of Working and Retired School Employees
ohio-sero.com