As a member participating in one of the OPERS defined contribution plans, you have actively chosen OPERS Investment Options for your contributions that will help you meet your retirement goals. However, as you know, each investment option performs differently each day, which can cause your investment mix to deviate from your desired allocations. Over time, these deviations could become quite significant.
We offer a feature called "Rebalancing" and it is easy to use. You make a onetime request telling us how you would like your account balances to be allocated among the various OPERS investment options. We take care of the rest by updating your account on a quarterly basis according to your desired asset allocation mix.
How Does The Rebalancing Feature Work?
- Do you want your account to keep the same asset allocation mix that you chose for your future contributions?
- Do you invest in more than one of the OPERS investment options?
If you answered "yes" to both these questions you can select the rebalancing feature by logging onto the Your Online Account. After clicking on the link to view your account, go to the "Manage Investments" tab, and select "Rebalance Account." Or, you can call the OPERS Help Line at 1-866-OPERS-4-U (1-866-673-7748) to speak with a counselor.
On the last business day of each calendar quarter, your overall account balance will be automatically rebalanced, whether your balances have deviated by only a small amount, or by a large amount. Rebalancing will continue every quarter so you do not have to remember to request it. It is automatic once you have chosen the feature.
Approximately one to two weeks prior to rebalancing taking place, you will receive a pre-confirmation in the mail reminding you that the rebalancing is going to occur soon. If you still want it to take place, you do not have to do anything. However, if you would like to change or cancel rebalancing before it happens, you must make this request prior to the date the transaction will take place.
Once the rebalancing transaction does occur, you will receive another confirmation in the mail showing the amounts in each investment option prior to and after the transaction. The balances will be allocated to the exact percentages you have on file. In addition, since the rebalancing takes place on the last business day of each calendar quarter, your asset allocation mix will be the same on each quarterly statement.
Some Things to Remember
- If the last day of the calendar quarter falls on a weekend or a holiday, the rebalancing takes place on the previous business day.
- Your account rebalancing will be done in the same percentages as you directed for your future contributions.
- If you would like to make any other type of account transaction, such as a fund-to-fund transfer, the automatic rebalancing feature will be automatically turned off. If you would like to reinstate rebalancing, you must actively select the feature again as described above.