OPERS offers financial wellness tools
National Retirement Security Week a good time to plan for the future
By Michael Pramik, Ohio Public Employees Retirement System
Oct. 17, 2024 – Next week is National Retirement Security Week, a great time for OPERS members to use the educational tools and opportunities we provide to achieve financial stability for retirement.
OPERS encourages all members and retirees to focus on their financial wellbeing, with a wealth of resources on our website, including webinars and recorded presentations, to support your plan.
Visit the Member Education Center at opers.org to enroll in a seminar or webinar. We offer sessions on personal budgeting to help you understand your expenses and work toward both short- and long-term financial goals. There’s also a recorded presentation for insights on budgeting.
Join our webinar “Bridging the Gap to Retirement Income” and use the Gap Calculator, along with links to Social Security benefit calculators. We also provide a webinar titled, “Health Care: The Hidden Cost in Retirement” to help you better prepare for retirement.
For personalized assistance with retirement eligibility and process questions, schedule a session with a knowledgeable counselor through your online account.
We also recommend exploring the options provided by 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. Deferred Compensation also offers post-tax plans, including a Roth 457(b) option.
Most financial planners suggest that your retirement income be 75%-90% of your working income. Ohio DC is designed to help fill the potential retirement income gap with high-quality investment options that allow for diversification, at a low cost, for every investor’s skill and comfort level.
Ohio DC offers detailed information on a range of retirement planning topics, such as how to prepare for retirement, protecting your account against risks, and mastering asset allocation. It’s never too soon to start saving.
If you have questions about what Ohio DC is, or how it can benefit you, refer to a list of frequently asked questions on its website. Or, scan the QR code below to read more about the enrollment process.
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.
I truly suggest that you give this information to new employees and every 3 to 5 years during their employment you give them this information this information is more important to the employees that are still working because they need to plan for the future the more information they have the sooner they can start planning working employees need this information more than those that have retired already get the information out early to the working employee
I didn’t understand deferred comp until my last few years. Personal meetings were offered and that’s what made the difference. Wish I had understood earlier!
I’m retired now.