New financial report released

OPERS’ CAFR focuses on moving your pension system forward

By Michael Pramik, Ohio Public Employees Retirement System

July 10, 2018 – OPERS has released its 2017 Comprehensive Annual Financial Report, a yearly look at our financial, investment, actuarial and demographic measurements.

This year’s theme is “Focused Forward: Every step makes a difference.” It emphasizes that each decision made in the retirement saving process, no matter how seemingly small, makes a contribution to retirement security.

OPERS employees work daily to make sure each step we take propels the organization forward to achieve five main goals:

  • Provide a stable pension for all OPERS retirees.
  • Continue to provide a meaningful retiree health care program.
  • Minimize drastic plan design changes.
  • Be financially positioned to react to market volatility.
  • Maintain intergenerational equity.

Here are some of the facts you’ll discover about OPERS in the 2017 CAFR:

  • OPERS had a net position of $101.4 billion at the end of 2017, the first time in our history that net position topped $100 billion.
  • The system’s funded status at year-end was 81 percent.
  • We are able to pay off our unfunded liabilities within 18 years, 12 years sooner than mandated by Ohio law.
  • Health care expenses in 2017 were $1.0 billion.
  • The OPERS defined benefit investment portfolio returned 16.82 percent for the year; the health care portfolio returned 15.25 percent; the defined contribution portfolio returned 17.39 percent.
  • In 2017, member and employer contributions in all our pension plans totaled $3.4 billion, compared with net income from investing activity of $14.6 billion.
  • Of the 347,730 active members in our system, 94.4 percent have chosen the defined benefit plan, 3.3 percent the defined contribution plan and 2.3 percent the hybrid plan.
  • Our new retirees’ average pension was $2,285.
  • Of the 210,868 retirees in OPERS, 89 percent remained Ohio residents as of Dec. 31, 2017.
  • OPERS made $5.3 billion in pension benefit payments last year to Ohio residents.

Michael Pramik

Michael Pramik is communication strategist for the Ohio Public Employees Retirement System and editor of the PERSpective blog. As an experienced business journalist, he clarifies complex pension policies and helps members make smart choices to secure their retirement.

Michael Pramik

Communication Strategist

5 thoughts on “New financial report released

  • July 10, 2018 at 11:47 am
    Permalink

    Yes, We are so fortunate and thankful.

    Reply
  • July 10, 2018 at 11:59 am
    Permalink

    Thank You for this report; GOOD JOB.

    Reply
  • July 10, 2018 at 2:34 pm
    Permalink

    Grateful!!!! Keep up the good work!!!!!

    Reply
  • July 10, 2018 at 9:09 pm
    Permalink

    Great job! Excellent fiscal management! As is said sometimes, if it isn’t broken, don’t fix it! Thank you, OPERS.

    Reply
  • July 11, 2018 at 1:50 pm
    Permalink

    Excellent stewardship of the funds. Keep up the good work!

    Reply

Leave a Reply

dialog-information.png
We encourage your comments on the Ohio Public Employees Retirement System’s PERSpective blog. We can’t respond to every comment. Please be aware that we review all comments before they’re posted, and we reserve the right to edit, not publish or remove any comment that in our sole discretion does not further the purpose of the blog. For further details, please see our Comments Policy.
 

Your email address will not be published. Required fields are marked *