Defined Contribution Fund

The Defined Contribution Fund Investment Options are intended to be primary retirement savings vehicles for members. Members have investment discretion over their accounts by selecting among an array of investment options designed for retirement savings. Members choose from the following funds:

These seek to achieve the following long-term objectives:

Member-Directed Plan participants direct the investment of both their member and employer contributions into the sixteen professionally managed investment options. Combined Plan participants only direct the investment of their member contributions.

Investment Philosophy

It is OPERS’ preference to utilize investment managers who have demonstrated consistent investment processes, styles and competitive returns. Currently, the OPERS Member Directed Plan exclusively uses external investment managers. All strategies are passive with the exception of the Stable Value Fund. Members can increase their use of active management by selecting strategies in their Self Directed Brokerage Account.

A primary goal in structuring the investment options and selecting the investment managers is to obtain low, institutional pricing on investment management services. In order to achieve this goal, the preferred vehicle type is one that has the lowest cost, whereby daily unit values for the Defined Contribution Fund are calculated by the custodian (or its designee) and reported daily to the record keeper.

It is the responsibility of the OPERS Board of Trustees to provide a range of distinct investment options that allow members the opportunity to achieve risk and return strategies that meet their objectives. It is the Board’s intention to provide a sufficient number of investment options to meet the needs of members. The Board shall reasonably limit the number of investment options to minimize member confusion and to avoid excessive administrative costs.