Ohio Public Employees Retirement System (OPERS)

The Ohio Public Employee Retirement System (OPERS) provides retirement, disability, and survivor benefit programs for public employees throughout the state of Ohio who are not otherwise covered by another state or local retirement system. OPERS serves more than 1 million past and present Ohio workers and had over $94.1 billion in net assets as of the end of 2018. OPERS is the largest pension fund in Ohio and the 12th largest public retirement system in the country.

There is serious and frequent discussion among state legislators focused on reducing the retirement benefits that members of OPERS have spent their working lives accumulating. While no one individual may be able to halt the long-term momentum of public sentiment, you can, to some extent, protect yourself by making sure you and your family have coordinated and managed your future entitlements before you retire.

For an OPERS member to effectively manage their retirement, they need the knowledge to make informed personal decisions and the initiative to take action now. The goal should be to maximize individual benefits available under your personal pension and any deferred compensation plans, and to consider whether a Partial Lump Sum Option Payment (PLOP) may be right for you.

Look at all the other factors affecting your retirement – Social Security benefits, other savings plans, potential medical costs, spousal retirement plans, changes in the cost of living, and other factors. Build your team and find the right Financial Quarterback to get all the players working together and you will go much further.

There are three options for OPERS members: the Traditional Plan, the Combined Plan, and the Member-Directed Plan. For the Traditional and Combined Plans, your eligibility, and, ultimately, your benefits depend on which group you fall into—either A, B, or C. Your group can be found either on your latest OPERS statement or by registering and logging into your account online. The Member-Directed Plan does not make use of these groups.