- Ohio Pensions
- Deferred Comp
- Where to Start
- Why Lineweaver
Any student – no matter the level – knows from experience the importance of having a skillful and engaged teacher. Unfortunately, it’s also been our experience that teachers often spend more time focused on their students’ growth than on their own financial future.
This occupational hazard is made worse by the fact that states’ budget constraints are forcing communities throughout the country to work toward permanently reducing the earned pension benefits teachers have spent their entire careers earning. It has always been incumbent on you to coordinate and manage your own future entitlements and to do it while you’re still working.
Teachers selflessly spend their days preparing young minds for the future, often to the detriment of their own futures. There is no better time than the present to secure that future.
Educators are covered by the State Teachers Retirement System (STRS), which is similar to OPERS in that it also offers Defined Benefit, Defined Contribution, and Combined Plans. However, some members may have the option of an Alternative Retirement Plan (ARP). These are generally administered by a third-party vendor, and can vary dramatically. Generally speaking, if these are available to you, it’s best to contact the third-party vendor about the details of these plans.