What is Vesting?
Am I Eligible to Vest My Retirement?
How Do I Vest My Retirement?
To elect a vested benefit, contact your retirement coordinator to obtain the Application for Vested Benefits. You and your coordinator must complete the form before submitting to OPERS.
OPERS staff will lock in your salary and service information as of your separation and will prepare a vested estimate for you. The estimate will include your estimated benefit amount and the date you will be eligible to begin drawing your lifetime benefit.
When Can I Start Drawing a Vested Benefit?
What Else Should I Consider?
- Often times, a retirement benefit over one’s lifetime has a greater monetary value than the amount of the accumulated contributions.
- Electing a vested benefit ensures you will receive an income from OPERS during your retirement years or provide a survivor benefit in the event of death.
- If you return to work for an OPERS participation employer, you will have retained your previous service and continue to accumulate service credit.
- By vesting your retirement, you will receive annual statements, newsletters and a reminder when you are eligible to begin benefits. OPERS will mail you the forms to begin your retirement.
What If I’m Not Eligible to Vest?
You may also choose to withdraw your accumulated contribution in a lump sum by completing the Application for Withdrawal along with your retirement coordinator. If you are eligible to vest when OPERS receives your withdrawal application, we will provide you with a retirement benefit estimate and additional information. This will constitute an offer to elect a vested benefit.