Building a foundation

National Retirement Security Week a good time to plan for the future

By Michael Pramik, Ohio Public Employees Retirement System

Oct. 23, 2025 – It’s National Retirement Security Week — a perfect time for OPERS members and retirees to focus on building a strong foundation for the future. OPERS offers a variety of educational tools, webinars, and recorded presentations designed to help you understand your benefits and plan confidently for retirement.

Created by a 2006 U.S. Senate resolution, National Retirement Security Week encourages Americans to take charge of their financial futures. Over time, it’s grown into a nationwide campaign involving employers, financial institutions and community groups, working to raise awareness about the importance of retirement planning.

No two retirement journeys look the same. Whether you’re early in your career, mid-way through, approaching your retirement date or already retired, this week is a great reminder to review your savings strategy and ensure you’re on track to meet your goals.

Retirement today often lasts 20 to 30 years or more, and studies show that too many Americans feel unprepared — but a little planning now can make a big difference later.

Here are a few key tips recently shared by Edward Jones and others that align with OPERS’ message of financial readiness:

• Boost your supplemental investments. A great way to build up extra savings for retirement is to contribute to Ohio Deferred Compensation, a supplemental 457(b) plan available to all Ohio public employees. This plan allows you to allocate a portion of your pre-tax earnings for retirement investments, with many options available. Ohio DC also offers post-tax plans, including a Roth 457(b) option.
• Manage your withdrawal rate. When it’s time to draw from your retirement accounts, think carefully about how much you withdraw each year. Taking too much too soon can shorten the life of your savings.
• Plan for health care costs. Even with Medicare, you’ll likely face premiums, copays, and other out-of-pocket expenses. According to the Genworth 2024 Cost of Care Survey, long-term care can range from $70,000 to $127,000 annually, depending on the type of service.
• Time your Social Security benefits. If you’re eligible for Social Security retirement benefits, plan wisely. Payments are available as early as age 62, but they increase the longer you wait — up to age 70. If you can afford to delay, your lifetime benefits may be higher.
• Be mindful of financial generosity. Helping family is rewarding, but make sure your own financial needs are secure first. Protecting your independence ultimately benefits everyone.

National Retirement Security Week is a reminder that financial wellbeing is an ongoing process — and OPERS is here to help at every step. Take advantage of our counseling opportunities and educational resources and make the most of the tools designed to support your retirement success.