State Retirement Plans

The state retirement systems Ohio Public Employee Retirement System (OPERS) and State Teachers Retirement System (STRS) offer a choice of three plans to new members. Those who have previously contributed should contact OPERS (1-866-673-7748) or STRS (1-888-227-7877) to verify options.

1. Traditional/ Defined Benefit Plan-Retirement income is determined by a calculation using age, years of service and an average of the three highest salary years. Vested benefits include service retirement income, disability and survivor benefits and possible access to health care coverage.
   
   
2. Defined Contribution- Retirement income is based on the performance of investment choices for the total contribution.  Contributions may be allocated among various investment options managed by the state system (OPERS or STRS).  Retirement, survivor and disability benefits are limited to the value of the account.
   
   
3. Combined Plan- A portion of retirement income is determined by the performance of investment options selected for the employee’s contribution. The employer’s contribution funds a combination of service retirement, disability and survivor benefits and possible access to health care coverage.