Retirement Overview - Human Resources at Ohio State

Retirement Overview

The Ohio State University supports the efforts of faculty and staff to plan a fulfilling, financially secure retirement. As part of its total rewards package, the university offers an array of retirement options to help you meet your financial goals.

Retirement program eligibility is based on your appointment type (faculty, staff or student) and your full-time equivalency (FTE). The two state-mandated retirement programs are the State Teachers Retirement System (STRS) and the Ohio Public Employees Retirement System (OPERS).

Note:
If you are a new hire or have become newly eligible for a retirement program, please pay attention to the enrollment deadlines. Full-time employees have 120 days from the date of eligibility to elect the Alternative Retirement Plan (ARP) instead of STRS or OPERS. You have 180 days from your date eligibility to elect plan options within OPERS and STRS.

There are also voluntary options for supplementing the state retirement plans. See the information below, or visit Benefits Eligibility to determine your eligibility.

Faculty×

75% FTE or greater
As a faculty member, you are automatically enrolled in STRS upon your hire, rehire or job change. Faculty who hold one or more appointments that, when combined, equal to 75% FTE or greater, also have the choice to elect the ARP. Faculty may also contribute to supplemental retirement plans.

Less than 75% FTE
As a faculty member, you are automatically enrolled in STRS upon your hire, rehire or job change. Faculty who hold one or more appointments that, when combined, are less than 75% FTE, are not eligible for the ARP but may contribute to supplemental retirement plans.

Staff×

75% FTE or greater
As a staff employee, you are automatically enrolled in OPERS upon your hire, rehire or job change. Staff who hold one or more appointments that, when combined, equal to 75% FTE or greater, also have the choice elect the ARP. Staff may also contribute to supplemental retirement plans.

Less than 75% FTE
As a staff employee, you are automatically enrolled in OPERS upon your hire, rehire or job change. Staff employees who hold one or more appointments that, when combined, are less than 75% FTE, are not eligible for the ARP but may contribute to supplemental retirement plans.

Re-Employed Retirees×

Faculty and staff who have been rehired after retiring from The Ohio State University are eligible for the following programs.

Faculty (75% FTE or greater)
As a faculty returning retiree, you are automatically enrolled in STRS and pay into the STRS Money Purchase Plan (Link). You may also have access to the ARP if you were never previously offered enrollment in the ARP prior to your retirement. If you were in the ARP and were rehired less than 365 days from retirement, you will automatically be re-enrolled in the ARP. Returning retirees also have access to supplemental retirement plans.

Faculty (less than 75% FTE)
As a faculty returning retiree, you are automatically enrolled in STRS and pay into the STRS Money Purchase Plan. Returning retirees also have access to supplemental retirement plans.

Staff (75% FTE or greater)
As a staff returning retiree, you are automatically enrolled in OPERS. You may also have access to the ARP if you were never offered enrollment in the ARP prior to your retirement. Returning retirees also have access to supplemental retirement plans.

Staff (less than 75% FTE)
As a staff returning retiree, you are automatically enrolled in OPERS and pay into the OPERS Money Purchase Plan (Link). Returning retirees also have access to supplemental retirement plans.

Students×

As a student employee, you are eligible to participate and pay into a state retirement plan – OPERS or STRS – or you may choose to opt out of participating in retirement. You also have access to supplemental retirement plans. For more information, see Student Employee Benefits.