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Does Ohio pers have a death benefit?

For members participating in the Member-Directed Plan, a death benefit is not available through OPERS. In the event of the members death, the vested portion of the members defined contribution account that has not been distributed is available to the members beneficiaries.

Is OPERS a lifetime benefit?

You dont have to make any investment decisions OPERS will do that for you. And your monthly payment will last throughout yourlifetime, which can make budgeting for retirement a whole lot easier.

What is the formula for OPERS retirement?

For OPERS members, this formula is their final average salary, times the number of years they worked, times 2.2 percent. This benefit will be paid until the member dies.

Can you take a lump sum from OPERS?

Regardless of which payment option is selected, retiring members may also elect a Partial Lump Sum Option Payment (PLOP). The PLOP allows a member to receive a lump sum benefit payment along with a reduced monthly retirement allowance.