10 benefits of deferred compensation

Enrolling in the Ohio DC savings plan can help you in retirement

By Kristen Dohrmann, Ohio Public Employees Retirement System

July 12, 2017 — You hear it all the time — save as much as you can for retirement while you’re still working. The Ohio Deferred Compensation Program makes it easy to do so. Ohio DC is a supplemental 457 retirement plan for Ohio public employees that can help bridge the gap between what you have and what you’ll need in retirement. If you’re already contributing to an Ohio DC account, you know the benefits of membership. If you’re new to Ohio DC, check out some of what they have to offer:

  1. Convenient payroll deduction
  2. Access to retirement planning specialists to assist you and answer your questions
  3. Planning tools to help you take control of your retirement
  4. No withdrawal penalties; withdrawal can begin after public employment ends and before age 59½
  5. Tax-deferred savings to help save on your tax bill
  6. Quality investment options for both skilled investors and those with less investing experience
  7. Competitive fees
  8. Option to roll over other plans into Ohio DC to take advantage of competitive fees
  9. The SMarT Plan, which automatically increases your deferrals each year to provide greater savings
  10. Catch-up program to help save more as you near retirement

Enrollment is fast and easy. If you haven’t done so already, visit ohio457.org or call 1-877-644-6457 to get started saving today.

Kristen Dohrmann

Kristen Dohrmann is a senior communications specialist with the Ohio Public Employees Retirement System. Kristen is responsible for active member communications including the quarterly member newsletter, OPERS News. She has more than 10 years of experience as a communicator in the public sector.

Kristen Dohrmann

Senior Communication Specialist

4 thoughts on “10 benefits of deferred compensation

  • July 12, 2017 at 1:20 pm
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    When I hired in the City of Toledo my Supervisor made me sign up now I do with my new hires what a favor he did for me.

    Reply
  • July 12, 2017 at 10:28 pm
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    I contributed max allowed during the last 16 years of career. Ended up more than doubling the contributions and the guaranteed option cushioned the effects of the recession in 2007-2009 and now the growth more than makes up for the annual required minimum distribution. All in all, a very well done program and highly recommended to any Ohio Public Employee. I’m not aware the items 9 and 10 were available in the 80’s and 90’s to us, but should be helpful to younger employees.

    Reply
  • August 3, 2017 at 5:21 am
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    Deferred compensation is a great way to supplement an OPERS retirement.

    Reply

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