OPERS Board of Trustees Certifies Local Rates

Who should read this notice

Finance directors, payroll and human resources professionals of OPERS employers.

Situation overview

As required by the Ohio Revised Code, the OPERS Board of Trustees has certified employee and employer contribution rates for local division OPERS employers for the 2020 calendar year. These rates remain unchanged and will be in effect from Jan. 1, 2020 through Dec. 31, 2020 for all local division employers.

WHAT EMPLOYERS NEED TO DO

Ensure those processing retirement contributions have the accurate contribution rates. Below are the retirement contribution rates that will become effective for all pay periods ending on or after Jan. 1, 2020.

The 2020 local division contribution rates are:

The OPERS Board of Trustees previously certified employee and employer contribution rates for all state division employers for the biennium commencing July 1, 2019 through June 30, 2021. Below are the retirement contribution rates for all state division employers.

The contribution rates for all state division employers from Jan. 1, 2020, through Dec. 31, 2020 are:

As a reminder: Salary must be reported when it is earned, not paid. This means each month you must report all pay periods ending in that month at the contribution rates that are in effect at that time – regardless of when the employee is paid.

WHY THIS IS IMPORTANT

Accurate reporting and remitting of retirement contributions is important to provide correct service credit in OPERS for your employees.

CHANGES TO THE EMPLOYER MANUAL

No revisions to the Employer Manual have been made as a result of this Employer Notice.

WHOM TO CONTACT FOR MORE INFORMATION

After you review this Employer Notice, contact your Employer Outreach representative with questions or comments at (888) 400-0965, or by email at employeroutreach@opers.org

 
Note: These local rates are effective for all pay periods ending in 2020, even if some days were worked in 2019. State rates included in this notice are effective for all pay periods ending Jan. 1, 2020 through Dec. 31, 2020.