Retirement Benefits for New Part-Time Staff
As a new part-time staff (less than 75% FTE) member, you have the opportunity to select one of two plans through Ohio Public Employees Retirement System (OPERS) for your mandatory retirement contributions. Earnings from your Ohio State employment are not covered under Social Security. Instead, you contribute to a mandatory retirement plan. Your retirement contributions will be sent to the OPERS defined benefit plan until an election is made.
Step 1: Learn About Your Plan Options
As an eligible staff member, you may elect one of the two OPERS plan options.
Review key plan features of your retirement plan options
OPERS Traditional Pension
(Defined Benefit) Plan
State-sponsored plan
Eligibility: 1-100% FTE
- Predictable monthly pension benefit
- May have survivor and death benefits during career
- Least portable option
- May have access to health care in retirement
OPERS Member-Directed
(Defined Contribution) Plan
State-sponsored plan
Eligibility: 1-100% FTE
- Investments selected by you
- Portable upon termination
- Phased vesting on employer contributions
- Potential for gain or loss
Step 2: Compare the Plans
When choosing your plan, review the differences between these two options.
Review the below summary and access the OPERS side-by-side comparison of key plan features.
OPERS Traditional Pension (Defined Benefit) Plan
You may consider this plan if:
- Intend to contribute over a career to OPERS or long enough to be eligible for a OPERS benefit.
- Want predictable monthly retirement benefits.
- Desire potential retirement benefits through OPERS such as access to health care, if eligible and available.
OPERS Member-Directed (Defined Contribution) Plan
You may consider this plan if:
- Are uncertain about working in Ohio their entire career or long enough to qualify for an OPERS benefit.
- Want to direct investments.
- Seek flexibility and choice.
- Desire plan portability.
- Do not need potential retirement benefits through OPERS (i.e. access to health care in retirement, if eligible and available).
Step 3: How and When to Make Your Decision
You will have a total of 180 days from your appointment date to select one of the two retirement plans at OPERS. If OPERS does not receive your plan selection within 180 days, you will remain in the defined benefit plan, and this will be your retirement plan for the duration of your OPERS membership.
Make your OPERS plan choice online via the OPERS website. Click Account Login. If you have not established an account, click “Need an Account?” to begin.
Step 4: Explore Additional Plans
In addition to the mandatory retirement plans, Ohio State offers supplemental savings options to help faculty and staff plan for retirement.
All Ohio State employees are eligible to participate in the 403(b) and 457(b) Supplemental Retirement Accounts (SRA). These plans allow you to enhance your retirement savings through two available contribution types (pretax and Roth) to a 403(b) plan and/or 457(b) plan account. Learn more about the SRA.
Step 5: Education and Support
Ohio State recognizes the importance of your retirement plan choice. Additional resources are available to assist in your decision.
Webinars
Register for a live retirement webinar with Human Resources staff. Recorded presentations are also available if you are unable to attend one of the monthly live webinars.
Phone
Connect by phone to discuss plan features or your specific questions with an OPERS representative.
Frequently Asked Questions
How do I enroll in OPERS?
Staff employees are automatically enrolled in the OPERS defined benefit plan, from your date of hire. You may remain in the defined benefit plan at OPERS or select the member-directed plan within 180 days from your date of hire. Contact OPERS to select a plan or you can do so from your OPERS online account. Log in to your account within your 180 day plan selection window and select, “Make My Retirement Plan Selection Now”.
What Happens If I Don’t Select a Plan at OPERS?
Under Ohio law, members who do not select a plan within 180 days will automatically be placed in the OPERS Traditional Pension Plan (defined benefit). You can only change your plan once during your career.
What are the contribution rates for OPERS?
Please see OPERS contribution rates.
Can I change the amount I contribute to OPERS?
No. The contribution rates are based on state retirement system mandates. If you wish to contribute additional funds to retirement, Ohio State employees are eligible to participate in the 403(b) and 457(b) Supplemental Retirement Accounts.
What is the maximum amount I can contribute to OPERS?
Your retirement limit is determined by your retirement plan and/or date of hire. Review the OPERS page for limit information.
Can I borrow against my OPERS account?
No, a loan feature is not available.
What can I do with my OPERS account after I leave Ohio State employment?
Please visit the OPERS website for more information.
How do I contact OPERS?
See our list of providers for contact information.
What is “service credit”?
Service credit is the number of years earned through contributing service or purchased under OPERS plan provisions. Service credit is one of the factors used to determine the amount of the monthly service retirement benefit in the Defined Benefit plan and is calculated by your employer according to the rules established by OPERS.
I contributed to another state retirement system, what do I need to know about combining my service credit?
Combining the accounts is optional. The choice to combine (or not combine) the accounts is made at retirement. The Defined Benefit plan is the only plan that allows service credit to be combined at the time of retirement. If the accounts are combined no more than one year of total credit may be granted for each fiscal year. The system with the greatest credit calculates and pays the monthly retirement benefit.
Am I required to contribute to Social Security?
Employees of Ohio public colleges and universities do not participate in the federal Social Security system, other than contributions to Medicare.
If I previously contributed to social security are there any impacts to my retirement plan?
Employees of Ohio public colleges and universities do not participate in the federal Social Security system, other than contributions to Medicare. If you are eligible for a Social Security benefit from other employment in addition to your OPERS benefit, there may be a reduction in your Social Security benefit. Learn more about the impacts to your Social Security benefit.
The materials contained in this section are a summary and are not intended to provide complete information about the retirement plans. Consider your plan selection carefully. You may want to consult with a financial planner before determining which plan is right for you.