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Ohio Deferred Compensation

Ohio Deferred Compensation can help you be better prepared for your retirement.

Want to know how much you'll need to retire? Go to the Help Me Plan page of Ohio Deferred Compensation's website tfind out what your retirement might look like and how much you need to save. The sooner you start with Ohio Deferred Compensation, the better.

You can enroll in the program by using its EZ enrollment form or enrolling online.

Still not sure? The charts below are broken down into different age groups. Check and see what your saving potential is with this program.

SERS and Ohio Deferred Compensation Can Help You See the Future More Clearly

When you enroll in Ohio Deferred Compensation, consider its SMarT Plan. With SMarT, the deferrals to your Ohio Deferred Compensation account automatically increase each year by the amount you choose. You can change your deferrals at any time.

That’s just plain SMarT.                                                                                     

Here’s how it works:

  1. You have your SERS pension.
  2. Enroll in Ohio Deferred Compensation to supplement your SERS pension.
  3. Enroll in Ohio Deferred Compensation's SMarT Plan.

 

Under Age 50
Ohio Deferred Compensation Bi-Weekly Deferral 1st year: $25.00
Annual SMarT increase: $10.00
Potential Account Balance in 20 years:    $100,000
Assumed annual return: 7.00%. Investing involves risk, including possible loss of principal.

 

Age 50 - 62
Ohio Deferred Compensation Bi-Weekly Deferral 1st year: $50.00
Annual SMarT increase: $20.00
Potential Account Balance in 10 years:    $40,000
Assumed annual return: 6.00%. Investing involves risk, including possible loss of principal.

             

Over Age 62
Ohio Deferred Compensation Bi-Weekly Deferral 1st year: $50.00
Annual SMarT increase: $20.00
Potential Account Balance in 5 years:    $13,000
Assumed annual return: 5.00%. Investing involves risk, including possible loss of principal.

             

So, for about the cost of a cup of coffee a day, you can easily supplement your SERS pension.

AGENCIES TEAM UP TO PROMOTE PLANNING, SAVINGS

The Ohio Retirement & Savings Awareness Initiative is a collaboration between Ohio Deferred Compensation, Ohio's retirement systems, the Attorney General, Treasurer of State, Department of Commerce, and Tuition Trust Authority. This partnership promotes saving and retirement planning to benefit all state public employees. Click here to develop your PLAN.