Is anyone here familiar with the OPERS retirement plan options? [Ohio]
Is anyone here familiar with the OPERS retirement plan options? [Ohio]
My wife just started a new state job, and I'm having a hard time deciding between the Traditional Pension Plan and the Member-Directed Plan. There are plenty of pros and cons to each plan. I would love to hear from a member of OPERS. What plan did you choose and why? Are there any details I can provide that would make a difference? If so, I would be glad to share.
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Re: Is anyone here familiar with the OPERS retirement plan options?
My ex is a state employee. She comes by frequently for “sessions” with me, nomsayin? I can ask her about the various options. I think it used to be that they did the investing for you now you can either still have them do that or choose your investments yourself.JEC wrote: ↑Wed Dec 01, 2021 12:25 pm My wife just started a new state job, and I'm having a hard time deciding between the Traditional Pension Plan and the Member-Directed Plan. There are plenty of pros and cons to each plan. I would love to hear from a member of OPERS. What plan did you choose and why? Are there any details I can provide that would make a difference? If so, I would be glad to share.
Re: Is anyone here familiar with the OPERS retirement plan options?
You can choose the investments your self in the Member-Directed Plan. They have BlackRock index funds, BlackRock target date funds, or you can enroll in a self-directed brokerage account through Schwab. Honestly the investment options are great. Extremely low expense ratios, wouldn't even need to use the self-directed account. My question is more in comparing the pension vs. DC plan. It would be great if you could ask her what her co-workers tended to choose and why.Rasputin13 wrote: ↑Wed Dec 01, 2021 12:33 pmMy ex is a state employee. She comes by frequently for “sessions” with me, nomsayin? I can ask her about the various options. I think it used to be that they did the investing for you now you can either still have them do that or choose your investments yourself.JEC wrote: ↑Wed Dec 01, 2021 12:25 pm My wife just started a new state job, and I'm having a hard time deciding between the Traditional Pension Plan and the Member-Directed Plan. There are plenty of pros and cons to each plan. I would love to hear from a member of OPERS. What plan did you choose and why? Are there any details I can provide that would make a difference? If so, I would be glad to share.
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- Posts: 58
- Joined: Wed Oct 20, 2021 8:05 am
Re: Is anyone here familiar with the OPERS retirement plan options?
I think her and her friends chose plans where they let the plan make all the decisions. I’ve heard it’s a very well-maintained plan.JEC wrote: ↑Wed Dec 01, 2021 2:54 pmYou can choose the investments your self in the Member-Directed Plan. They have BlackRock index funds, BlackRock target date funds, or you can enroll in a self-directed brokerage account through Schwab. Honestly the investment options are great. Extremely low expense ratios, wouldn't even need to use the self-directed account. My question is more in comparing the pension vs. DC plan. It would be great if you could ask her what her co-workers tended to choose and why.Rasputin13 wrote: ↑Wed Dec 01, 2021 12:33 pmMy ex is a state employee. She comes by frequently for “sessions” with me, nomsayin? I can ask her about the various options. I think it used to be that they did the investing for you now you can either still have them do that or choose your investments yourself.JEC wrote: ↑Wed Dec 01, 2021 12:25 pm My wife just started a new state job, and I'm having a hard time deciding between the Traditional Pension Plan and the Member-Directed Plan. There are plenty of pros and cons to each plan. I would love to hear from a member of OPERS. What plan did you choose and why? Are there any details I can provide that would make a difference? If so, I would be glad to share.
Re: Is anyone here familiar with the OPERS retirement plan options?
What is OPERS, as in what state are you talking about? I could assume my OPERS (Oklahoma Public Employees Retirement System), but wouldn't be surprised if there are others.JEC wrote: ↑Wed Dec 01, 2021 12:25 pm My wife just started a new state job, and I'm having a hard time deciding between the Traditional Pension Plan and the Member-Directed Plan. There are plenty of pros and cons to each plan. I would love to hear from a member of OPERS. What plan did you choose and why? Are there any details I can provide that would make a difference? If so, I would be glad to share.
Re: Is anyone here familiar with the OPERS retirement plan options?
Sorry, Ohio Public Employees Retirement System.tibbitts wrote: ↑Wed Dec 01, 2021 3:00 pmWhat is OPERS, as in what state are you talking about? I could assume my OPERS (Oklahoma Public Employees Retirement System), but wouldn't be surprised if there are others.JEC wrote: ↑Wed Dec 01, 2021 12:25 pm My wife just started a new state job, and I'm having a hard time deciding between the Traditional Pension Plan and the Member-Directed Plan. There are plenty of pros and cons to each plan. I would love to hear from a member of OPERS. What plan did you choose and why? Are there any details I can provide that would make a difference? If so, I would be glad to share.