Planning for important changes

Life Events section of OPERS website can help you make the best choices 

By Michael Pramik, Ohio Public Employees Retirement System

May 25, 2022 – While you’re working as an OPERS member, or after you retire, your life likely will change, and sometimes in significant ways. These developments can affect your retirement benefit, so you need to know how to respond.

We designed the Life Events section of the OPERS website to guide you through many of the decisions you might have to make during and after your public service career.

Live Events contains helpful links and tools you’ll need as an OPERS member. Here’s a look at some of the information within Life Events:

• Beneficiaries: A beneficiary is someone who will receive either a lump-sum refund or monthly benefits in the event of your death while you are still working. This section of the website helps you designate a beneficiary or make changes. You can do so through your OPERS online account. If you are already retired you made this selection at retirement and can only make adjustments in a few situations, which are listed on the website.
• Caregivers: You can grant OPERS permission for a caregiver to have access to your OEPRS account information by completing the Authorization: Release of Account Information form. You’ll also need to complete a separate form to release protected health information.
• Marriage, remarriage, divorce, dissolution or annulment: The rules in place regarding one of these events can have a significant impact on your retirement benefits, especially if you’re already retired.
• Impact of seasonal employment: Your retirement plan might be impacted if you take on seasonal, part-time or intermittent employment. Read all about it in this flier.
• Turning 65 & Medicare basics: Life Events has information on Medicare benefits for when you reach that age.
• Returning to work: If you retire and want to become re-employed, check out this section for particulars about where your money goes and how health care works.
• Death of an OPERS member: This section is for caregivers and survivors, to let them know how to contact us and what will happen next.

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.