PLOP stands for “Partial Lump Sum Option.” We will advise you on the tips and tricks when making your PLOP decisions. Should you take a PLOP and how much? If you've been advised to take a max PLOP, call us for a second opinion before you take action.
Choosing the correct Plan of Payment (aka joint and survivor annuity) is a critical part of financial planning for OPERS and STRS Ohio members. We’ve seen people lose $100k or more of retirement income by making incorrect decisions. Our STRS and OPERS guides explain the challenges members face and the potentially devastating consequences of choosing the wrong plan of payment or take a PLOP they couldn't afford.
OPERS and STRS Ohio pension decisions can be difficult to navigate on your own. If you are facing this decision, let’s set up a time to talk.
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The DROP offered by OP&F is an optional benefit that allows eligible police officers and firefighters to accumulate their pension payments while they are still employed and receiving a salary.
Understanding your own personal financial situation and knowing what the impact will be is crucial. Selecting a joint survivor annuity when entering DROP, for example, is the most misunderstood aspect. If not analyzed properly, there can be harmful long-term consequences.
We can run our proprietary DROP analysis to determine what's best for you. If you are facing this decision, let’s set up a time to talk.
Schedule a DROP CallChoose the category that applies to you below, and enjoy our Ohio Public Pension tips!
