State and Alternative Retirement Options
Employees of Ohio public colleges and universities do not participate in the federal Social Security system, other than contributions to Medicare. Full-time classified and unclassified employees may elect to participate in either the Ohio Public Employees Retirement System (OPERS) or an Alternative Retirement Plan (ARP). Full-time faculty members may elect to participate in either the State Teachers Retirement System (STRS) or an ARP. Part-time classified and unclassified employees must participate in OPERS and part-time faculty must participate in STRS.
If you are eligible for a Social Security benefit from other employment in addition to your OPERS/STRS/ARP benefits, there may be a reduction to your social security benefit due to the Windfall Elimination Provision. Learn more about the notice from the .
In addition, all university employees are eligible to participate in the supplemental retirement options: 403(b) and 457(b) retirement savings programs. Enrollment in the supplemental plans can be completed at any time using .
Retirement Plan Options
Ohio Public Employees Retirement System (OPERS)
Employees who participate in OPERS have the option to select the Traditional Plan or the Member-Directed Plan. Details regarding the features of these plans are available in the information packet provided to new employees by OPERS and on the .
OPERS requires contributions from employees of 10% and 天天吃瓜 may contribute up to 14.0%.
OPERS provides special retirement coverage for certain law enforcement officers (OPERS-LE). The OPERS-LE provision requires a 11.6% employee contribution and an employer contribution of 18.1%.
Retirement eligibility under the OPERS Traditional or Member-Directed Plan: Eligible at any age with 30 years of service or more, age 55 with at least 25 years of service, or age 60 with at least 5 years of service. Disability retirement benefits may be available after at least 5 years of service credit under the Traditional plan. There are no disability benefits available under the Member-Directed plan.
Service Years | Age |
---|---|
Service Years 30 years | Age Any |
Service Years 25 years | Age Age 55 |
Service Years 5 years | Age Age 60 |
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