Are you retiring from OPERS?
-Completing the Retirement Application can be overwhelming.
Here are the TOP 3 decisions you must get right when completing the retirement application.
1) Retirement Date (RD)= first of the monthly FOLLOWING your last day of PAID service. Ex. you work in Jan. Your RD is February 1st.
2) MOST COSTLY MISTAKE - Choosing a payment plan right for you and your family. Most couples don't take into consideration their spouse's income in retirement. Knowing how much to leave your spouse is critical. This is a permanent decision that reduces your lifetime income.
3) Should you PLOP? - Everyone wants to take a PLOP but doesn't understand the impact and how much to take. The PLOP reduces your monthly income, WHICH also reduces your future COLA amounts and your survivors' benefit.