Traditional Pension Plan

The Traditional Pension Plan is a defined benefit plan that provides fixed, monthly lifetime retirement benefits.

Your eventual benefit is determined by a formula that rewards you for working longer — the more years you work, the bigger your monthly payment.

The Traditional Pension Plan

The Traditional Pension Plan is a good choice for those who want a guaranteed benefit with lowest risk.

New Members

You have 180 days to choose a plan. To select the Traditional Pension Plan, visit the How to Select Your Plan page.

As of Dec. 31, 2017, over 75% percent of OPERS members are in the Traditional Pension Plan.

Key Aspects of the Traditional Pension Plan

No investment surprises

A defined benefit plan offers security because your retirement income is based on a formula that includes your final average salary and years of service, and is not subject to the ups and down of the market.

OPERS manages the investment of both your member and employer contributions.

The Traditional Pension Plan delivers a retirement income with very little effort on your part. You don’t have to make any investment decisions – OPERS will do that for you. And your monthly payment will last throughout your retirement, which can make budgeting for retirement a whole lot easier.

You can even take a reduced payment to provide for your family if you pass away.

Disability and survivor benefits

If you get hurt on the job or become unable to work, the Traditional Pension Plan offers disability benefits and a Rehabilitative Services Program. The Rehabilitative Services Program is designed to help you return to wellness and seek employment. Survivor benefits are available through the Traditional Pension Plan to provide income for your family should you pass away.

Additional Things to Keep in Mind in the Traditional Pension Plan

When you retire you may have access to health care, although this is not a guaranteed benefit.

Retiring from the Traditional Pension Plan

Once you’ve made the decision to retire, there are a few things to know about the retirement application process.

Refunding Your Account

If you leave your OPERS-covered job you have two options: Keep your account with OPERS (if you think you may return to public service), or refund 100% of your member contributions.


Benefit Estimator

Register for, or log into, your online account to use the Benefit Estimator. This tool is pre-populated with your personal information from the OPERS database so you can run benefit estimate scenarios yourself, based on your specific situation.

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