Should I Take a PLOP?
You may already know what the OPERS PLOP is. However, you may not know how it could benefit you.
The key to the PLOP is not whether you can “beat” the OPERS rate of return. The key to the PLOP is whether or not you can afford it. Many advisors will not take the time to help you to correctly determine this. There are very few reasons to give up guaranteed income for non-guaranteed income when you are retiring.
To truly understand if you can afford the PLOP it is critical to compare your net income before retirement to your projected net income during retirement. We have created a proprietary Paystub Calculator that helps our clients simplify this process. This calculator takes into account pre and post-retirement tax changes, pre-retirement OPERS Ohio contributions, annuity contributions, mortgage payments as well as several other important factors. When this step is complete our clients feel more confident about whether the PLOP is the right option for them.
If you need help understanding the PLOP or would just like a second opinion because someone else has recommended the PLOP, please give us a call or use the contact form above.