2020 annual statements available online
Document estimates retirement benefit, shows value of working longer
By Michael Pramik, Ohio Public Employees Retirement System
April 19, 2021 – Each year OPERS prepares the Annual Statement of Estimated Benefits for our members. The 2020 version is now available to view and print within your online account.
Here’s how to find it: After signing in to your account, click “View My Annual Statement Now” under the Milestone Notifications/Alerts heading on the account home page. Unless you have specifically requested to only receive an electronic statement, you will receive a printed copy in the mail between now and the end of May.
The statement is a snapshot of your estimated benefit as of Dec. 31, 2020, and features estimates beyond your initial eligibility, illustrating the value of working longer. It shows you not only the estimated dollar amount, but also the percentage of your estimated final average salary you will receive if you choose to retire with a reduced or unreduced benefit, or if you continue working a few years longer.
You also can find your OPERS ID on the statement. The OPERS ID is an 11-digit personalized identification method you can use in place of your Social Security number in many instances, such as verifying your identity over the phone and submitting OPERS forms. It will remain with you throughout your entire OPERS membership.
Your statement provides a basic estimate of your retirement benefits. However, if you participate in the Traditional Pension Plan, you can always generate a variety of retirement benefit estimates by logging in to your online account at opers.org, 24 hours a day, seven days a week.
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.
Not happy with the annual statement sent this year. I have 30 years of service currently. The projections provided were for 2021, 2031, 2034 and 2036. I needed numbers for the next 3-5 years. I have no intention of having nearly 45 years of service in OPERS-LE. Not sure why the decision was made to project so far out? My hope is there is no serious consideration of raising the retirement age to that high anytime soon. Please go back to the old way next year with the statements going out 3-6 years instead of 16.
Thanks.
Dave,
Thanks you for the feedback you have provided in regard to the annual statements that OPERS provides. If you would like additional retirement estimates created for you please send your requests through the member online account message center or contact our office at 1-800-222-7377.
Thanks, MS
Will I be able to use the HSA to buy health insurance outside the USA? Or use it here for international health insurance.
Edward,
For pre-Medicare retirees with a foreign address Provided they meet the eligibility guidelines they will receive the pre-Medicare HRA amount. They may seek health care coverage through the foreign country in which they live or enroll in an insurance carrier that offers international coverage, but are not required to enroll in a medical plan. Reimbursable expenses will need to be translated to English and U.S currency as of the date the expense occurred.
Thanks MS
are we getting our 3% cost of living in 2022?
Geo,
We typically do not announce cost-of-living adjustments until September.