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.

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OPERS to recognize same-sex marriages

The Ohio Public Employees Retirement System will recognize same-sex marriages in accordance with the recent U.S. Supreme Court ruling stating that all couples have a constitutional right to marry.

On June 26, the court decision in Obergefell v. Hodges held that the 14th Amendment requires the state “to recognize a marriage between two people of the same sex when their marriage was lawfully licensed and performed out-of-state.” The decision will impact several features of OPERS’ pension benefits and health care coverage. Here is a look at some of the highlights:

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Posted in Benefits, Health Care, Ohio PERS, OPERS, Pensions | Tagged , | 3 Comments

Video highlights under-65 health care

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

This month Steger talks about the 2016 health care plan for those under 65. She also addresses member questions about our health care coverage.

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

Posted in Health Care | Tagged , , | 26 Comments

OPERS benefits and taxes

One of the recurring topics of concern to OPERS retirees and benefits recipients is how to manage their taxes.

While OPERS can provide general guidance on the impact of federal and state income tax withholding on benefits, retirees and benefit recipients should consult with their own tax advisor for specific information.

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Pension redesign having its intended effect

Occasionally we see misinformation about public pension systems in general, and the Ohio Public Employees Retirement System in particular. When that occurs, we believe we must set the record straight.

Most recently, OPERS and the other Ohio public pension systems were admonished for not attaining progress fast enough after achieving pension redesign in 2012.

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Posted in Ohio PERS, OPERS, Pension Reform, Pensions | Tagged , , | 13 Comments

Review your info, preferences in online account

The Ohio Public Employees Retirement System recently sent notices to some of our active and inactive members who have not updated their beneficiaries in five or more years.

This is a good reminder for all OPERS members to update all of their individual information if there have been any recent changes.

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Posted in Benefits, Member Services, Pensions | Tagged , | 8 Comments

Under-65 health care plan approved for 2016

Participants in the Ohio Public Employees Retirement System’s health care plan for retirees under 65 will face some increased costs in 2016 as the system adjusts to pending federal rule changes.

Medical-plan deductibles, out-of-pocket costs and copays will rise, as will deductibles for and the cost of many pharmaceutical products, although the out-of-pocket maximum for drugs will decline for the nearly 50,000 OPERS retirees in the plan.

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List of Connector insurers taking shape

Beginning in January Ohio Public Employees Retirement System retirees 65 and over may access health care coverage through the OPERS Medicare Connector administered by OneExchange.

Several of our retirees have asked us what types of coverage will be available or, more specifically, which insurance carriers the Connector will make available to them. They’ve also asked us whether OPERS will assist OneExchange in offering specific choices.

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Health care video addresses re-employed retirees

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

In the June video, Steger addresses member questions related to recent OPERS decisions affecting health care for re-employed retirees.

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

Posted in Health Care, Re-employed retirees | Tagged , , , | 26 Comments

Unfunded pension liabilities not taxpayers’ burden

Ohioans do not “owe” debts to the Ohio Public Employees Retirement System to pay for the future funding of pensions.

We saw a reference to the contrary in the promotion of a newly published book on the generational effects of public policy. When we encounter such extreme perspectives on pensions and pension funding, we feel the necessity to respond.

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