Answers to OPERS member questions

This month: We address several details related to collecting pensions

By Michael Pramik, Ohio Public Employees Retirement System

Aug. 14, 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: Can I still collect my pension at 55 if I’m in Group C with just under 32 years of qualifying service?

A: To be eligible for an unreduced service retirement in the Traditional or Combined Plan in Group C, members must have 32 years of service credit and be age 55, or be age 67 with at least 5 years of service credit. If a member were to terminate employment with, say, 31.9 years of service credit, the member would not become eligible to apply for retirement until age 57 for a reduced service retirement benefit. For an unreduced service retirement benefit, that member would have to wait until age 67.

Q: I am a re-employed OPERS member who contributes to the Money Purchase Plan. I’m interested in the annual annuity instead of a lump sum payout when I do call it quits. Can you explain the type of annuity that is offered, for example, single life with cash option? I am interested if my spouse would get any money that remains if I passed away several years after I started taking the annuity.

A: The Money Purchase Plan monthly annuity payment offers the same plan of payment options as the monthly service retirement benefit. When applying for the Money Purchase Plan monthly annuity, the retiree can elect the Single Life, Joint Life or Multiple Life plan of payment. However, note that the Partial Lump Sum Option (PLOP) is not a plan of payment option that’s available with the Money Purchase Plan monthly annuity.

Q: How do I cancel my OPERS supplemental life insurance policy through Colonial Life?

A: OPERS members would need to call Colonial Life at 1-800-325-4368 should they choose to make alterations to their life insurance policies.

Q: What does OPERS offer regarding service purchases to those who have military service?

A: OPERS members who served in the military may be eligible to purchase military service credit prior to service retirement. Information about purchasing military service credit can be found on page 5 of OPERS’ Service Credit and Contributing Months leaflet.

Q: I am currently 64 years old and not making contributions to my account. I am also not retired and am still looking for employment. Can you confirm that my money is technically “frozen” and as long as I don’t request a refund or withdrawal, I’m in good standing with my account?

A: Inactive members are those who maintain accounts with us but aren’t currently working in an OPERS-covered position. Details of your account depends on which OPERS retirement plan you are in. The account values of the Traditional Pension Plan and Money Purchase Plan are not subject to gains and losses or monthly fees. The account values of the Member-Directed Plan and the defined-contribution portion of the Combined Plan are subject to gains and losses, as well as a monthly administrative fee.

Q: If I am an educator and paying into STRS, but I work an OPERS summer job, will I be able to roll OPERS over into STRS when I am ready to retire even though my service credit was earned concurrently in the same year?

A: OPERS and STRS credit can be combined at retirement, and you will apply for retirement through the system in which you have the most service credit. If the OPERS and STRS service credit is concurrent, your years of service credit will not increase. However, combining the OPERS and STRS reported earnable salary could increase the Final Average Salary, which is also used to calculate the monthly benefit amount. Please contact the system you will retire from to request a joint retirement estimate.