OPERS releases financial reports

Funding remained steady as investments continued strong performance in 2024

By Michael Pramik, Ohio Public Employees Retirement System

July 10, 2025 – OPERS has published its latest annual financial reports, offering a comprehensive overview of our financial position, investment performance, actuarial data and member demographics. These reports reflect our continued commitment to transparency in managing your pension system.

Both the full Annual Comprehensive Financial Report and the condensed Popular Annual Financial Report are now available on our website for members and stakeholders to review. They highlight key accomplishments and data from the 2024 calendar year.

Here’s a snapshot of what you’ll find in the 2024 reports:

• OPERS had a total net position of $142.6 billion at the end of 2024, up from $114.8 billion from a year earlier. The change reflects the addition of Ohio Deferred Compensation as a fiduciary component unit and the consolidation of the Combined Plan into the Traditional Pension Plan.
• Total fund returns for 2024 reflected a gain of 9.08%, compared with a 11.72% gain the previous year.
• The OPERS defined benefit portfolio returned 8.82%, above the benchmark return of 7.93% and the anticipated actuarial funding plan rate of 6.9%. The health care portfolio returned 10.00%, exceeding the benchmark of 9.53% and the funding plan rate of 6.0%. The defined contribution portfolio returned 13.74%, ending the year at more than $3 billion in assets.
• The Dec. 31, 2024, actuarial valuation reflected that OPERS was 83 percent funded, with the ability to pay off its unfunded actuarial accrued liabilities in 15 years. Ohio requires OPERS to be within a 30-year amortization window.
• The Health Care Plan solvency years increased from 21 years at the end of 2022 to 25 years at the end of 2023. That’s the date of the latest health care fund valuation and thus doesn’t reflect 2024 investment performance.
• Membership topped 1.32 million, with growth in all three categories. At the end of 2024, membership included 221,498 retirees, 316,214 active members and 785,889 inactive members.
• OPERS made pension benefit payments of $7.5 billion, up from $7.2 billion in 2023.
• Health care costs increased slightly to $546.1 million, from $544.9 million a year earlier.
• Employers contributed more than $2.6 billion to the system, up $158 million from 2023. Member contributions and voluntary participant deferrals totaled $2.54 billion, which included deferrals to Ohio Deferred Compensation.
• In 2024, OPERS had 80 members who were more than 100 years old, with the oldest being 109.
• OPERS is good for Ohio. For every dollar we received from public employers in 2024, $3.04 was returned to the Ohio economy through pension and health care payments made to retirees. OPERS’ in-state custodian managed $117.5 billion in system assets, and $2.1 billion of the OPERS portfolio was invested with Ohio-based companies.
• Here are a few averages for new retirees in 2024:
  • Age at retirement: 62.6
  • Years of service at retirement: 24.5
  • Final average salary: $68,699
  • Pension at retirement: $34,662
  • Age on valuation date: 63.1

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.