Is anyone here familiar with the OPERS retirement plan options? [Ohio]

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Topic Author
JEC
Posts: 95
Joined: Fri May 29, 2015 2:09 pm

Is anyone here familiar with the OPERS retirement plan options? [Ohio]

Post by JEC »

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.
Rasputin13
Posts: 58
Joined: Wed Oct 20, 2021 8:05 am

Re: Is anyone here familiar with the OPERS retirement plan options?

Post by Rasputin13 »

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.
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.
Topic Author
JEC
Posts: 95
Joined: Fri May 29, 2015 2:09 pm

Re: Is anyone here familiar with the OPERS retirement plan options?

Post by JEC »

Rasputin13 wrote: Wed Dec 01, 2021 12:33 pm
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.
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.
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
Posts: 58
Joined: Wed Oct 20, 2021 8:05 am

Re: Is anyone here familiar with the OPERS retirement plan options?

Post by Rasputin13 »

JEC wrote: Wed Dec 01, 2021 2:54 pm
Rasputin13 wrote: Wed Dec 01, 2021 12:33 pm
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.
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.
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.
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.
tibbitts
Posts: 23728
Joined: Tue Feb 27, 2007 5:50 pm

Re: Is anyone here familiar with the OPERS retirement plan options?

Post by tibbitts »

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.
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.
Topic Author
JEC
Posts: 95
Joined: Fri May 29, 2015 2:09 pm

Re: Is anyone here familiar with the OPERS retirement plan options?

Post by JEC »

tibbitts wrote: Wed Dec 01, 2021 3:00 pm
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.
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.
Sorry, Ohio Public Employees Retirement System.
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