Does my OPERS have an account value?

Is OPERS a retirement plan?

Yes, OPERS stands for Ohio Public Employees Retirement System, which is a retirement plan for public employees in the state of Ohio.

What is the purpose of OPERS?

The purpose of OPERS is to provide retirement, disability, and survivor benefits to eligible public employees and their beneficiaries.

How is OPERS funded?

OPERS is funded through contributions from employees, employers, and investment earnings.

Does OPERS have an account value?

Yes, OPERS does have an account value. The account value represents the total amount of contributions made by the employee and employer, as well as any investment earnings.

How is the account value calculated?

The account value is calculated based on the contributions made by the employee and employer, as well as the investment performance of the OPERS fund.

Can I access my account value before retirement?

In most cases, you cannot access your account value before retirement unless you meet certain criteria for early withdrawal.

What happens to my account value if I leave my public employment?

If you leave your public employment, you may be eligible to receive a refund of your contributions, which would include your account value.

Can I choose how my account value is invested?

OPERS offers different investment options for members to choose from, allowing them to customize how their account value is invested.

Will my account value continue to grow after retirement?

After retirement, your account value may continue to grow through investment earnings, depending on how you choose to invest your funds.

What happens to my account value when I pass away?

If you pass away, your account value may be paid out to your designated beneficiaries as survivor benefits.

Can I borrow against my account value?

OPERS does not allow members to borrow against their account value, as it is intended for retirement benefits.

Is my account value guaranteed by OPERS?

While OPERS strives to provide stable and secure retirement benefits, the account value is subject to market fluctuations and is not guaranteed.

Can I transfer my account value to another retirement plan?

In some cases, you may be able to transfer your account value to another retirement plan if you meet certain requirements and the new plan allows for transfers.

Are there any taxes or penalties associated with accessing my account value?

There may be taxes and penalties associated with accessing your account value before retirement, so it’s important to consult with a financial advisor or tax professional before making any decisions.

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