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.