Bridge illustration

Bridging the Gap to Retirement

A retirement "gap" is the difference between the amount of income you will have in retirement and the amount you will need.

Identifying your gap and having a plan in place to close that gap are part of building a secure retirement.
OPERS provides the foundation and will be your partner on your path to financial wellness.

To determine your gap you need to consider your spending habits while working
and what that will look like in retirement, factoring in inflation.

Before using the calculator, gather estimates from all your retirement income sources. Estimates may be obtained from recent annual statements, retirement plan websites or by contacting a plan administrator directly.

Looking at the time illustration

Step 1: Your Retirement Timeline

First, we want to get an idea of your retirement timeline.

Current age is required.
Invalid age.
Age at retirement is required.
Invalid age.
Must be greater or equal to current age.
This value is required.
Invalid number.

Your Retirement Timeline Snapshot

Based on the information you provided:

You have {{user.age.atRetirement - user.age.currently}} years until you retire.

You plan to retire at age {{user.age.atRetirement}}

If this looks right, let's move on to step 2 and estimate your retirement income.

Money illustration

Step 2: Input Pension and Other Monthly Income Sources

Benefit Name Estimated Gross Value
Add an income source to continue.
{{asset.value.annuitized | currency}}
{{estimateAccountValueAtRetirement(asset) | currency}} estimated value at age {{user.age.atRetirement}}
How we estimated this

Estimate your taxes

Most retirement income will be subject to taxes. For this calculation, we'll assume a 25% tax rate. If you want to change your tax rate, feel free to change it below:

For help determining your future taxes, use the tax witholding calculator at

Your Retirement Income Snapshot

Based on the information provided:

You have {{getAssets('income').length}} retirement income sources that will provide you with an estimated gross monthly income of {{getTotalIncome() | currency}}.

With a tax rate of {{user.taxRate*100 | number : 0}}%, your net income will be reduced to an estimated {{getTotalIncome(true) | currency}}

You have {{getAssets('savings').length}} other accounts that will be worth an estimated {{getTotalSavings() | currency}} when you are age {{user.age.atRetirement}}. These accounts This account will not be included in the retirement gap calculation at the end.

Spending/receipt illustration

Step 3: Estimate Your Expenses

Now let's take a look at your expenses. First we'll be looking at how much you currently spend, and then we'll look to the future and estimate how much you'll spend in retirement.

Don't worry about inflation. Estimate everything in today's dollar values, and we'll factor in inflation for you in the next step.

Category Current Spending
per month
Estimated Monthly Spending in retirement
per month
Average Premium for retirees under age 65:
Average Premium for retirees age 65 or older:
*This average combines premiums for Medigap Plan G, an Rx Plan and Medicare Part B.
+ - {{getAbsValue(getDifference(expense.current, expense.inRetirement)) | currency}} Same -
Total {{getTotalExpenses('current') | currency}} {{getTotalExpenses('inRetirement') | currency}}
+ - {{getAbsValue(getDifference(getTotalExpenses('current'), getTotalExpenses('inRetirement'))) | currency}}

Estimating Your Inflation Factor

Inflation is the rate at which the general prices of goods, services and materials rise over time.

For this calculation, we'll assume that inflation will rise 2% each year, and that health care costs will increase by 4% each year.

Based on your retirement timeline, you have {{user.age.atRetirement - user.age.currently}} years until you retire.

This means that, assuming 2% inflation, your retirement spending will be {{getInflation((user.age.atRetirement - user.age.currently), 0.02)}}x what it is now.

Health care costs are increasing even faster. So, assuming a 4% rise, your health care costs will be about {{getInflation((user.age.atRetirement - user.age.currently), 0.04)}}x what they are now

Your Spending Snapshot (with inflation)

Category Estimated monthly spending in retirement Inflation rate Your estimated retirement spending with inflation
{{expense.inRetirement | currency}}
x {{getInflation((user.age.atRetirement - user.age.currently), expense.inflation.factor, expense.inflation.exempt)}}
x {{getInflation((user.age.atRetirement - user.age.currently), expense.inflation.factor, expense.inflation.exempt)}}
{{expense.inRetirement * getInflation((user.age.atRetirement - user.age.currently), expense.inflation.factor, expense.inflation.exempt) | currency}}
Total {{getTotalExpenses('inRetirement') | currency}}   {{getTotalExpenses('inRetirement', true) | currency}}
Calculator with question marks illustration

Step 4: Calculating Your Retirement Gap

Note: Members contributing to the Traditional Pension Plan and the Combined Plan may be eligible for deposits to a Health Reimbursement Arrangement (HRA) in retirement, which will help offset health care costs through qualified reimbursements. Members contributing to the Member-Directed Plan have a Retiree Medical Account to use for their health care in retirement.

Your Retirement Gap

You're set!

Based on the information you've provided, your estimated retirement income of {{getTotalIncome(true) | currency}}/month will be enough to cover your projected expenses of {{getTotalExpenses('inRetirement', true) | currency}}.

Your Retirement Gap:{{getTotalExpenses('inRetirement', true) - getTotalIncome(true) | currency}}

Based on the information you've provided, you will have a retirement gap of {{getTotalExpenses('inRetirement', true) - getTotalIncome(true) | currency}}/month.

There's a number of ways to close this gap.

Retirement Income

{{}} {{asset.value.annuitized | currency}} (tax-free withdrawals) {{estimateAccountValueAtRetirement(asset) | currency}} (estimated account value at age {{$parent.user.age.atRetirement}})
Tax Rate {{user.taxRate*100}}%
Estimated Income (taxed): {{getTotalIncome(true) | currency}}

Retirement Spending

Estimated Expenses {{getTotalExpenses('inRetirement') | currency}}
Estimated inflation
({{user.age.atRetirement - user.age.currently}} years)
{{getInflation((user.age.atRetirement - user.age.currently), 0.02) * 100}}%
({{getInflation((user.age.atRetirement - user.age.currently), 0.04) * 100}}% for health care)
Estimated Expenses (with inflation): {{getTotalExpenses('inRetirement', true) | currency}}

Strategies to Close Your Retirement Gap

Based on the information you've provided, here's few ways you can close your retirement gap of {{getTotalExpenses('inRetirement', true) - getTotalIncome(true) | currency}}/month:

You've done a great job planning for retirement, but staying vigilant is the key to a safe and secure retirement. Here's a few ways to boost your retirement income:

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