All Montgomery County employees contribute to/participate in the Ohio Public Employees Retirement System (OPERS).
Montgomery County employees do not contribute to Social Security; however, all employees do contribute to Medicare via payroll tax rate of 1.45%. Montgomery County matches this 1.45% for Medicare. An OPERS pension benefit could reduce future Social Security benefits to which you may become entitled.
Retirement contribution rates are shared by employees and Montgomery County and are currently:
Refunds which consist of employee contributions and interest are available to employees who leave Montgomery County employment. Three months must elapse from the date employer certifies employee left employment before the refund is made. An employee is vested in the OPERS plan after 5 years of Ohio service credit.
Three retirement plans became effective January 1, 2003: Traditional Pension Plan, Member-Directed Plan or Combined Plan. OPERS will send information and forms for your selection of the future pension plan to your home address and these forms must be completed and returned to OPERS within 180 days of your employment date.
Eligibility for Retirement:
- employee with at least 5 years of Ohio service credit and age 60.
- employee with 25 years of Ohio service credit and age fifty-five may take reduced benefit.
- employee with 30 years of Ohio service may retire with full benefits at any age.
- employee who selects Member-Directed Plan may retire after age 55.
This is only a brief outline of facts concerning OPERS contributions/benefits. Please refer to information you receive at home for full disclosure of your benefits under OPERS.