Ohio PERS Retirement Calculator: Estimate Your Pension
Calculate your Ohio Public Employees Retirement System (OPERS) pension. Understand formulas and plan for Ohio public employee retirement.
Key Takeaways
- 1Ohio PERS serves 1 million+ Ohio public employees
- 2Three plan options: Traditional, Member-Directed, Combined
- 3Traditional Pension uses 2.2% multiplier
- 4Most Ohio public employees don't receive Social Security
- 5Use your OPERS online account for personalized estimates
- 6Supplement your pension with additional savings
What Is Ohio PERS?
The Ohio Public Employees Retirement System (OPERS) is one of the nation's largest public pension funds, serving Ohio's public employees.
- 1 million+ members (active, inactive, retired)
- Covers state, county, city, and other public employees
- Teachers have separate system (STRS Ohio)
- Most OPERS members don't have Social Security
- Three retirement plan choices available
No Social Security
Most OPERS members don't participate in Social Security from their public employment. Your pension may be your primary retirement income.
OPERS Plan Options
OPERS offers three retirement plan choices. New members must choose within 180 days.
| Plan | Type | Key Features |
|---|---|---|
| Traditional Pension | Defined Benefit | Guaranteed pension, health care option |
| Member-Directed | Defined Contribution | You invest, portable, no pension guarantee |
| Combined | Hybrid | Smaller pension + defined contribution account |
OPERS Traditional Pension Formula
The Traditional Pension formula is: Years of Service × 2.2% × Final Average Salary.
- **Standard multiplier**: 2.2% per year of service
- **Final Average Salary**: Highest 3 years (or 5 for some)
- **Age 67 or 32 years**: Unreduced retirement
- **Age 60 with 5 years**: Reduced retirement available
Pension Calculation
OPERS member with 30 years at $65,000 FAS: 30 × 2.2% × $65,000 = $42,900 annual pension (66% replacement).
Exploring your retirement options?
Our 60-second quiz matches you with the right account type
How to Calculate Your OPERS Pension
Use these steps to estimate your retirement benefit.
- 1Log into your OPERS account at opers.org
- 2Access the Retirement Estimator tool
- 3Review your credited service
- 4Verify your salary history for FAS calculation
- 5Select projected retirement date
- 6Compare unreduced vs. reduced retirement options
- 7Consider health care eligibility
- 8Factor in any ARP (Alternative Retirement Plan) service
Supplementing Your OPERS Pension
Without Social Security, your OPERS pension may be your main retirement income. Additional savings provides security and flexibility.
- Ohio Deferred Compensation (457) plan available
- 457 has no 10% early withdrawal penalty
- Member-Directed and Combined plans can roll to IRA
- Gold IRA provides inflation protection
- Diversify beyond pension tied to Ohio's budget
- Augusta Precious Metals helps with plan rollovers
Frequently Asked Questions
1Does OPERS provide health insurance?
OPERS offers health care coverage to eligible retirees, but you must meet age and service requirements. The benefit is not guaranteed and has been reduced over time.
2Can I change OPERS plans?
No. Unlike some states, OPERS plan choice is irrevocable. Choose carefully within your 180-day window.
3What is the OPERS COLA?
OPERS provides an annual 3% simple COLA for those who retired before 2013. Post-2013 retirees have a more limited COLA structure.
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