Answers to OPERS member questions

This month: We address retirement eligibility, refunds and other issues

By Michael Pramik, Ohio Public Employees Retirement System

June 26, 2025 – Members and retirees often ask us questions through our social media channels that others could benefit from. Periodically we post these questions and answers in our PERSpective blog.

Q: Once a refund application is submitted what is the typical time frame to receive your funds?

A: There is a 2-month waiting period from your last day of employment as certified by the employer to process and pay your refund. If after, standard processing and issuance is typically 15-20 business days from the date all requirements are received.

Q: I’m in retirement Group C. How do I know when I’m eligible to retire?

A: To be eligible to receive a monthly benefit from OPERS you must meet both the minimum age and service credit requirements. Detailed information about retirement eligibility is available on the OPERS website. You also can run detailed estimates through your OPERS online account.

Q: I recently read information about Colonial Life insurance being offered to OPERS members. Why isn’t the insurance available to OPERS retirees?

A: This optional insurance is being offered to OPERS members by Colonial Life & Accident Insurance Co., so that is a decision made by Colonial Life. The open enrollment period  begins July 1. For more information, refer to our recent blog.

Q: Why did OPERS recently introduce a new registration process? Also, how could retirees change their banking information if they need to do so but don’t have access to an online camera? Can retirees still make a banking change using a traditional form submitted to OPERS through the mail?

A: OPERS added this layer of security to assist in protecting member and retiree accounts in response to a general increase in online fraud cases. It represents an effort to keep personal information as secure as possible. It’s required to update online account passwords, but the traditional change forms will continue to be accepted.

Q: I can’t find any clear representation about the state’s share of OPERS’ net pension liability, or what the state’s share of the contribution is.

A: OPERS membership includes employees from state, local, public safety and law enforcement employers. Members’ benefits (liabilities) are funded by member and employer contributions. For state and local employees, contribution rates are currently set at 10% of pay for members and 14% of pay for employers.

The state of Ohio is not directly assigned any liability. Liability is assigned to the participating employers, per GASB accounting standards 67/68, based on their proportionate shares of the system’s overall liability. Employers are legally responsible only for making their statutory employer contributions.

Q: I worked for a public employer back in the 1990s. I was told there could be money in an OPERS account for me. How do I go about finding out?

A: If you have been inactive as an OPERS contributing member for that long, you should contact us at 800-222-7377 for further assistance. Our Member Services department is open from 8 a.m.-4:30 p.m., Monday through Friday.