How drug coverage will work with the Connector

Participants in the OPERS Medicare Connector will have to make decisions on prescription drug coverage in addition to medical insurance.

A new video, featuring OPERS Pharmacy Benefits and Policy Manager Brian Lehman, covers many topics related to this coverage. It includes an introduction by OPERS Health Care Director Marianne Steger.

You can also find it on our YouTube channel.

Posted in Health Care, Ohio PERS, OPERS, OPERS Medicare Connector | Tagged , , | 4 Comments

Tips for the Connector enrollment call

Enrollment appointments begin Oct. 5 for participants in the OPERS Medicare Connector.

We’d like to offer a few pointers for how to make the most of the enrollment calls with OneExchange as participants choose their health care coverage on the individual Medicare market: Continue reading

Posted in Health Care, Ohio PERS, OPERS, OPERS Medicare Connector | Tagged , , , | 15 Comments

‘Checkbook’ review to follow health care initiative

The Ohio Public Employees Retirement System is committed to evaluating the online checkbook initiative proposed by the Ohio Treasurer’s office, but that review will await more-pressing issues facing the retirement system.

The upcoming January launch of the OPERS Medicare Connector, which will impact health care coverage for more than 230,000 retirees and their dependents, is the most-important issue we currently face. It’s the future of affordable health care for all OPERS Medicare-eligible retirees, and we cannot afford to take our eye off the ball as we initiate the program.

Continue reading

Posted in Government Relations, Ohio PERS, OPERS | Tagged , , | 12 Comments

Hedge funds key piece of OPERS portfolio

The Ohio Public Employees Retirement System has a well-diversified investment portfolio. In addition to traditional investments such as stocks and bonds, OPERS makes use of alternative investments to secure retirement benefits for its members.

At the August Board of Trustees meeting, the OPERS investment staff and the Board’s alternatives investment consultant, Aon Hewitt, provided a primer on the role of hedge funds in our portfolio.

Continue reading

Posted in Investments, Ohio PERS, OPERS | Tagged , , | 1 Comment

Shafer selected as chief investment officer

The Ohio Public Employees Retirement System has selected Richard D. Shafer as Chief Investment Officer. Shafer had been serving as acting CIO since the departure of John Lane, the previous CIO, last year.

As the retirement fund’s chief investment officer, Shafer will lead the Investment Division in executing the annual investment plan and long-term investment strategy.

Continue reading

Posted in Benefits, Investments, Ohio PERS, OPERS, Pensions | Tagged , , | 1 Comment

How ‘non-qualifiers’ can gain Connector coverage

The Ohio Public Employees Retirement System has released the latest health care chat with OPERS Health Care Director Marianne Steger.

This month Steger details how OPERS retirees who do not qualify for premium-free Medicare Part A coverage can secure coverage through the OPERS Medicare Connector. She also addresses member questions about our health care coverage with OPERS’ Michael Pramik.

You can click here to watch the video, which we’ve posted on our YouTube channel.

Posted in Pensions | 19 Comments

Connector prep session available online

Ohio Public Employees Retirement System and OneExchange representatives are conducting seminars to help retirees transition to the OPERS Medicare Connector.

Our Get Ready with OneExchange seminars are designed to present you with information about Medicare and the Connector, the private Medicare exchange in which participants will select their own supplemental health care coverage. We’ll be conducting them around Ohio, and in Florida and Arizona, throughout August and September.

Continue reading

Posted in Connector, Health Care, Ohio PERS, OPERS | Tagged , , | 22 Comments

Many Ohioans not prepared for retirement

Fewer than half of Ohioans have a retirement plan where they work, making retirement security a risky proposition for younger generations of employees.

The state of Ohio scored five on a scale of 10 in the 2015 Financial Security Scorecard report, released last week by the National Institute on Retirement Security. Nearly every state fell far short in meeting their economic needs in retirement, NIRS said.

Continue reading

Posted in Ohio PERS, OPERS, Pensions, Saving for retirement | Tagged , , | Leave a comment

OPERS delegation backs exemption from excise tax

The Ohio Public Employees Retirement System is evaluating the impact of the Cadillac tax provisions of the Affordable Care Act on the OPERS health care plan and supports an exemption from the tax for retiree-only plans.

The excise tax is scheduled to go into effect in 2018 and would apply a fee to health care providers when their coverage value exceeds certain thresholds. The tax could wind up costing OPERS millions of dollars when our system already has made changes to our health care to ensure that OPERS can continue providing coverage to our retirees and benefit recipients into the future.

Continue reading

Posted in Health Care | Tagged , , | 18 Comments

Annual reports contain vital information

The Ohio Public Employees Retirement System has published the 2014 versions of its main financial reports.

The 2014 Comprehensive Annual Financial Report, and a condensed version called the 2014 Summary Annual Financial Report, are available on the OPERS website. They contain important financial, investment, actuarial and statistical information about our retirement system as of the end of last year.

Continue reading

Posted in Pensions | Tagged | 1 Comment