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Traditional Pension Plan - Sample Annual Statement (change plan) YOUR OPERS 2016 ANNUAL STATEMENT OPERS Member 277 East Town Street Columbus, OH 43215-4627 This statement is a summary of your OPERS account and benefits. All information in this statement reflects our records as of Dec. 31, 2016, and is not a guarantee of the type or amount of your benefits. Your OPERS retirement group: GROUP A GO GREEN www.opers.org Traditional Pension Plan CONTRIBUTIONS Contributions made during 2016 $0,000.00 Total contributions as of Dec. 31, 2016 $000,000.00 Additional Annuity contributions $0.00 REFUNDABLE ACCOUNT Account value as of Dec. 31, 2016 $000,000.00 SERVICE CREDIT Service credit earned and/or purchased during 2016 0.000 years Total service credit as of Dec. 31, 2016 00.000 years YOUR RETIREMENT BENEFIT ESTIMATES EARLIEST RETIREMENT (REDUCED) EARLIEST RETIREMENT (UNREDUCED) IF YOU CONTINUE WORKING UNTIL AGE 65 IF YOU CONTINUE WORKING UNTIL AGE 67 DATE Jan. 31, XXXX Jan. 31, XXXX Jan. 31, XXXX Jan. 31, XXXX AGE 55 58 65 67 MONTHLY LIFETIME PENSION $0,000.00 $0,000.00 $0,000.00 $0,000.00 FAS $00,000.00 $00,000.00 $00,000.00 $00,000.00 SERVICE CREDIT 00 00 00 00 YOUR PERSONAL ACCOUNT INFORMATION Your current age XX Your date of birth on record Month DD, YYYY Your current final average salary (FAS) $000,000 Your current email address MEMBER@OPERS.ORG Registered to access your OPERS email address online? No YOUR SERVICE CREDIT RECORD Total Service Credit by Type Total Contributing 0.000 Total Purchased 00.000 Total Service Credit 00.000 Total Service Credit applicable to health care coverage elibility 00.000 Total Purchased Service Total Purchased Service 00.000 YOUR ADDITIONAL BENEFITS DISABILITY BENEFITS You have earned the contributing service required to apply for a disability benefit under the revised plan if needed. For more information on disability benefits, please visit opers.org/members/traditional/disablity. SURVIVOR BENEFITS As an OPERS member, if you die before retirement or while receiving a disability benefit, your qualified beneficiaries may be eligible for monthly benefit payments or a refund of your account. Lump sum refund $000,000* YOUR ANNUAL SURVIVOR BENEFIT ESTIMATE One survivor $00,000 Two survivors $00,000 Three Survivors $00,000 YOUR CONTRIBUTIONS AND REFUNDABLE ACCOUNT Upon leaving all public employment in Ohio, you may apply for and receive your accumulated contributions (which include interest) and an additional amount for those members with five or more years of qualifying service credit in the Traditional Pension Plan. You cannot borrow against this amount at any time. Receiving a refund of your account forfeits all service credit and cancels any future benefits. *The additional amount is subject to change and not guaranteed. If you are receiving a disability or service retirement benefit at the time of your death, your beneficiary is not eligible to receive the additional amount. CONTRIBUTIONS FOR THE YEAR 2016 ALREADY TAXED TAXABLE Total MEMBER CONTRIBUTIONS $0.00 $0,000.00 $0,000.00 PURCHASED SERVICE DEPOSITS $0.00 $0.00 $0.00 ADDITIONAL ANNUITY DEPOSITS $0.00 $0.00 $0.00 YOUR TOTAL CONTRIBUTIONS & DEPOSITS FOR THE YEAR 2016 $0.00 $0,000.00 $0,000.00 REFUNDABLE ACCOUNT (available only if your terminate all public employment in Ohio) ALREADY TAXED TAXABLE Total YOUR EMPLOYEE CONTRIBUTIONS & DEPOSITS THROUGH DEC. 31, 2016 $00,000.00 $00,000.00 $000,000.00 PLUS INTEREST $0.00 $0,000.00 $0,000.00 * PLUS ADDITIONAL AMOUNT $0.00 $00,000.00 $00,000.00 ADDITIONAL ANNUITY & APPLICABLE INTEREST $0.00 $0.00 $0.00 YOUR TOTAL ACCOUNT VALUE $00,000.00 $00,000.00 $000,000.00 HOW WE CALCULATE YOUR RETIREMENT BENEFIT ESTIMATES Factors which could impact the amount of your retirement benefit include your final average salary (FAS), age at retirement, years of service credit and the benefit payment plan you choose. While each factor could impact your benefit, there is one overriding thought to keep in mind -- the longer you work and the more service credit you earn, the greater your retirement benefit. If you choose to retire at your earliest eligibility, your benefit may be “reduced”. If you work longer and meet the age and service credit eligibility for your full benefit, you will receive an "unreduced" benefit. Your retirement group is based on your first eligible date of retirement. Your group is subject to change based on your continued service and your retirement date. To calculate your retirement benefit estimates (page 1), OPERS uses your current account information as well as a number of assumptions which can change at any time. If you are an actively contributing member, your estimates assume your earnable salary will increase by one percent annually and you will be employed continuously in a full-time position with an OPERS- covered employer, earning a full year of service credit annually. The benefit estimates provided on page 1 are not guaranteed. OPERS cannot provide an exact benefit amount until you retire and begin receiving a benefit. Rules governing OPERS are subject to state and federal law changes. Reaching pension eligibility does not mean you also qualify for access to health care coverage. Visit opers. org/members/retire for information on health care coverage eligibility. YOUR BENEFICIARY DESIGNATION As a member of OPERS, you can name one or more beneficiaries to receive a lump sum refund of your account, should you pass away. You can either name a specific person(s), trust, estate or institution as your beneficiary or you can have your beneficiaries determined by automatic succession (1) spouse, 2) children, 3) dependent parents, 4) if none of the above, parents share equally in a refund of the account, or 5) if none of the above, a refund of the account will be paid to the estate. Eligible surviving children will receive monthly benefits regardless of a specific designation. You will find your current beneficiary designation(s) below. If they are incorrect, missing or need to be updated, please visit www.opers.org, to sign into your online account and make any changes. Primary Beneficiary(ies): Beneficiary Name mm/dd/yyyy relationship XX% Contingent Beneficiary(ies): Beneficiary Name mm/dd/yyyy relationship XX% Combined Plan - Sample Annual Statement (change plan) YOUR OPERS 2016 ANNUAL STATEMENT OPERS Member 277 East Town Street Columbus, OH 43215-4627 This statement is a summary of your OPERS account and benefits. All information in this statement reflects our records as of Dec. 31, 2016, and is not a guarantee of the type or amount of your benefits. Your OPERS retirement group: GROUP A GO GREEN www.opers.org The Combined Plan The Defined Contribution portion of the Combined Plan Contributions made during 2016 $0,000.00 Total contributions as of Dec. 31, 2016 $00,000.00 Balance as of December 31, 2016 $00,000.00 The Defined Benefit Portion of the Combined Plan Refundable Defined Benefit account value as of December 31, 2016 Please see page 3 SERVICE CREDIT Service credit earned and/or purchased during 2016 0.000 years Total service credit as of Dec. 31, 2016 00.000 years YOUR RETIREMENT BENEFIT ESTIMATES EARLIEST RETIREMENT (REDUCED) EARLIEST RETIREMENT (UNREDUCED) IF YOU CONTINUE WORKING UNTIL AGE 65 IF YOU CONTINUE WORKING UNTIL AGE 67 DATE Jan. 31, XXXX Jan. 31, XXXX Jan. 31, XXXX Jan. 31, XXXX AGE 55 58 65 67 MONTHLY LIFETIME PENSION $0,000.00 $0,000.00 $0,000.00 $0,000.00 FAS $00,000.00 $00,000.00 $00,000.00 $00,000.00 SERVICE CREDIT 00 00 00 00 YOUR PERSONAL ACCOUNT INFORMATION Your current age XX Your date of birth on record Month DD, YYYY Your current final average salary (FAS) $000,000 Your current email address MEMBER@OPERS.ORG Registered to access your OPERS email address online? No YOUR SERVICE CREDIT RECORD Total Service Credit by Type Total Contributing 0.000 Total Purchased 00.000 Total Service Credit 00.000 Total Service Credit applicable to health care coverage elibility 00.000 Total Purchased Service Total Purchased Service 00.000 YOUR ADDITIONAL BENEFITS DISABILITY BENEFITS You have earned the contributing service required to apply for a disability benefit under the revised plan if needed. For more information on disability benefits, please visit opers.org/members/traditional/disablity. SURVIVOR BENEFITS As an OPERS member, if you die before retirement or while receiving a disability benefit, your qualified beneficiaries may be eligible for monthly benefit payments or a refund of your account. YOUR ANNUAL SURVIVOR BENEFIT ESTIMATE One survivor $00,000.00 Two survivors $00,000.00 Three Survivors $00,000.00 DEFINED BENEFIT ACCOUNT VALUES Upon leaving all public employment in Ohio, you may apply for and receive your accumulated contributions (which include interest) and an additional amount for those members with five or more years of qualifying service credit in the Traditional Pension Plan. You cannot borrow against this amount at any time. Receiving a refund of your account forfeits all service credit and cancels any future benefits. *The additional amount is subject to change and not guaranteed. If you are receiving a disability or service retirement benefit at the time of your death, your beneficiary is not eligible to receive the additional amount. ADDITIONAL AMOUNT ALREADY TAXED TAXABLE Total QUALIFIED MEMBER CONTRIBUTIONS $0.00 $0,000.00 $0,000.00 QUALIFIED PURCHASED SERVICE DEPOSITS $0.00 $0.00 $0.00 QUALIFIED INTEREST (to calculate additional amount) $0.00 $0.00 $0.00 TOTAL QUALIFIED CONTRIBUTIONS, DEPOSITS AND INTEREST $0.00 $0,000.00 $0,000.00 *ADDITIONAL AMOUNT $0.00 $0,000.00 $0,000.00 REFUNDABLE DEFINED BENEFIT ACCOUNT VALUE (available only if you terminated all OPERS-covered Employment) ALREADY TAXED TAXABLE Total *ADDITIONAL AMOUNT $00,000.00 $00,000.00 $000,000.00 PURCHASED SERVICE DEPOSITS AND INTEREST $0.00 $0,000.00 $0,000.00 REFUNDABLE DEFINED BENEFIT ACCOUNT VALUE $0.00 $00,000.00 $00,000.00 HOW WE CALCULATE YOUR RETIREMENT BENEFIT ESTIMATES Factors which could impact the amount of your retirement benefit include your final average salary (FAS), age at retirement, years of service credit and the benefit payment plan you choose. While each factor could impact your benefit, there is one overriding thought to keep in mind -- the longer you work and the more service credit you earn, the greater your retirement benefit. If you choose to retire at your earliest eligibility, your benefit may be “reduced”. If you work longer and meet the age and service credit eligibility for your full benefit, you will receive an "unreduced" benefit. Your retirement group is based on your first eligible date of retirement. Your group is subject to change based on your continued service and your retirement date. To calculate your retirement benefit estimates (page 1), OPERS uses your current account information as well as a number of assumptions which can change at any time. If you are an actively contributing member, your estimates assume your earnable salary will increase by one percent annually and you will be employed continuously in a full-time position with an OPERS- covered employer, earning a full year of service credit annually. The benefit estimates provided on page 1 are not guaranteed. OPERS cannot provide an exact benefit amount until you retire and begin receiving a benefit. Rules governing OPERS are subject to state and federal law changes. Reaching pension eligibility does not mean you also qualify for access to health care coverage. Visit opers. org/members/retire for information on health care coverage eligibility. YOUR BENEFICIARY DESIGNATION As a member of OPERS, you can name one or more beneficiaries to receive a lump sum refund of your account, should you pass away. You can either name a specific person(s), trust, estate or institution as your beneficiary or you can have your beneficiaries determined by automatic succession (1) spouse, 2) children, 3) dependent parents, 4) if none of the above, parents share equally in a refund of the account, or 5) if none of the above, a refund of the account will be paid to the estate. Eligible surviving children will receive monthly benefits regardless of a specific designation. You will find your current beneficiary designation(s) below. If they are incorrect, missing or need to be updated, please visit www.opers.org, to sign into your online account and make any changes. Primary Beneficiary(ies): Beneficiary Name mm/dd/yyyy relationship XX% Contingent Beneficiary(ies): Beneficiary Name mm/dd/yyyy relationship XX%