OPERS Essentials: PLOP

Here’s how to receive a lump sum payment when you retire

By Michael Pramik, Ohio Public Employees Retirement System

March 5, 2019 – Most OPERS members can cash out a portion of their pension as a partial lump sum option payment, or PLOP, when they retire. How does this option work? Watch the latest video in the OPERS Essentials series, which explain various features of your OPERS retirement plan.

You can view all of the OPERS Essentials videos on our YouTube channel.

 

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

2 thoughts on “OPERS Essentials: PLOP

  • March 5, 2019 at 10:17 am
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    Nice video, Michael. Regarding the 10% withdrawal penalty if under age 59 1/2: Is that only if I withdraw it early from an IRA later on before that age? In other words, if I just take a PLOP on retirement directly into a bank account at say age 54 does that get penalized?

    Reply

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