Are Your Savings on Track to Meet Your Retirement Goals?

Don’t delay in planning for retirement financial security. Establishing retirement income sources in addition to your STRS Ohio pension — such as a supplemental retirement plan — can better position you to reach your financial goals.

Supplemental retirement plans, such as the 457(b) plan offered through Ohio Deferred Compensation, allow you to save on a tax-deferred basis or with tax-free growth. Here are a few considerations when determining how much to save:

• The amount needed to live comfortably and pay for retirement plans or hobbies
• Health care costs in retirement (premiums and out-of-pocket expenses)
• Your potential longevity — STRS Ohio has more than 200 benefit recipients who are age 100 or older

Click here for further details on plan features, contribution limits and available resources for establishing a supplemental retirement plan.