Retirement is an elusive idea and means something different to everyone. When it comes to retirement planning, what is the word most associated with being prepared for retirement? Most people would say saving and, for the most part, they would be correct.

If you are in the process of retiring from OPERS, or have simply come in contact with our retirement application, you may have come away with a few new questions about retirement. At OPERS, we are often asked questions about what spouse consent is, when it is necessary, and why it is required. In this article, we attempt to shed some light on the curious issue of spouse consent.

Regardless of your stage in life, one of the fundamental building blocks of a solid financial plan is emergency savings.According to a 2014 Bankrate survey of 1,000 U.S. adults, 60 percent of Americans could not afford to pay for most unexpected expenses. Without an emergency fund, you may be just one unforeseen accident or event away from a serious financial setback.The following are the five W’s for building emergency savings.WHO needs an emergency fund?

The 2.5% Step-Up Program allows members to increase their retirement benefits by paying an additional member contribution each pay period. Currently, that additional contribution is 2.91% of your compensation and is subject to change.The additional Step-Up contributions are used to increase the computation factor when benefits are calculated. The standard retirement benefit calculation for most OPERS members uses a benefit computation factor of 2%. (more)