OPERS adapts to changing investment environment

Like many other pension plans, the Ohio Public Employees Retirement System is reducing its investment return expectations because of changes in the global economy.

This adjustment in OPERS’ expected rate of return is part of our continuing effort to keep our pension plan healthy and sustainable, and is part of a rigid review cycle. The changes that OPERS made in 2012 to our pension and health care funds strengthened our system and allowed us to lower our expected returns now.

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Retirement security week stresses planning

Ohio Deferred Compensation is holding free webinars on various retirement planning topics to recognize National Retirement Security Week. Public employees are encouraged to consider their retirement goals this week and track their progress toward meeting them.

In response, the Ohio Public Employees Deferred Compensation Program will hold webinars on several topics:

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Posted in Benefits, Ohio PERS, OPERS, Saving for retirement | Tagged , , | 3 Comments

OPERS video: Investments drive our success

The Investments division of the Ohio Public Employees Retirement System skillfully manages more than $87 billion that is used to pay our members’ pension benefits and provide retirees access to health care coverage.

This video presents an overview of how the OPERS investment team approaches its task, seeking solid returns while maintaining transparency in all of its actions.

Prudent management of the OPERS investment portfolio for the long term allows us to achieve our No. 1 goal: Provide retirement security for our members.

Posted in Benefits, Investments, Ohio PERS, OPERS | Tagged , , | 3 Comments

OPERS video: Pre-Medicare plan design

Open enrollment for the 2017 Ohio Public Employees Retirement System health care plan begins Oct. 15 and runs through Dec. 7.

Personalized cost statements for pre-Medicare retirees will be included with the Open Enrollment Guide, arriving in homes mid-month. Meanwhile, participants can tune in to a video featuring OPERS Senior Health Care Specialist Jason Davis addressing what pre-Medicare retirees should expect this year – from plan design and premium changes to enrollment in the optional vision and dental plans.

This video also can be found on the OPERS YouTube channel.


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OPERS video: Open enrollment via the Connector

The 2017 open enrollment season for the Ohio Public Employees Retirement System officially kicks off Oct. 15.

For Medicare-eligible retirees, it means reviewing current medical/prescription drug plans and assessing if change is necessary. If you are keeping the plan you selected for 2016, you do not need to contact OneExchange. Your 2016 selections will automatically carry over into 2017.

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Posted in Connector, Health Care, Ohio PERS, OPERS, OPERS Medicare Connector | Tagged , , , | 113 Comments

10 retirement ‘surprises’ to plan for

You’ve got your retirement all planned out, and you decide to take the plunge. Then an unexpected surprise happens.

It could be a leaky roof, health care bills or the vagaries of the financial markets. Whatever their source, retirement surprises can cost you real money. Here are 10 tips that OPERS members planning to retire should think about before calling it a career:
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Posted in Benefits, Pensions, Saving for retirement | Tagged , , | 21 Comments

Report illustrates financial impact of pensions

Benefits paid to Ohio’s public-sector retirees have a ripple effect that’s a boon to the state’s economy, according to a study on the impact of public pensions.

In “Pensionomics 2016: Measuring the Economic Impact of DB Pension Expenditures,” the National Institute on Retirement Security says the $13.6 billion paid to the state’s public-sector retirees in 2014 led to a total economic impact of $20.1 billion.

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OPERS publishes guide for Ohio prosecutors

The Ohio Public Employees Retirement System is teaming up with Franklin County Prosecutor Ron O’Brien and Ohio Attorney General Mike DeWine to make it easier for local prosecutors to recover money stolen by public officials.

OPERS has published the OPERS Guide for Ohio Prosecutors on Forfeiture and Restitution Withholding Orders. It defines theft in office and describes the conditions in which pension forfeiture and withholding orders may occur according to Ohio law. The guide also instructs prosecutors how to notify OPERS of theft-in-office indictments, and contains sample forms and orders that OPERS will recognize.

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Health care open enrollment dates set for 2017

Open enrollment presents a time for retirees of the Ohio Public Employees Retirement System to adjust their health care coverage. This year, our open enrollment will be held Oct. 15-Dec. 7 for both Medicare and non-Medicare retirees.

We recently mailed the OPERS fall newsletter, which includes a health care bulletin previewing what is to come for 2017 medical, prescription, vision and dental plans. Here are a few of the highlights and details:

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Posted in Health Care, Ohio PERS, OPERS, OPERS Medicare Connector | Tagged , , , , | 47 Comments

Public pensions allow portability of benefits

Public employees who wish to change jobs throughout their careers are well-served by defined benefit pension plans, a new study states.

In a report titled, “Preserving Retirement Income for Public Sector Employees,” the National Institute on Retirement Security found that nearly all public retirement systems allow for the accumulation of pension benefits for members who job-hop during their careers. In addition to allowing time to add up in multiple plans, most public employees can purchase service credits or redeposit withdrawn contributions if they leave public employment and later return.

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Posted in Benefits, DB plans, Ohio PERS, OPERS | Tagged , , | 8 Comments