In a continuing effort to reduce costs and increase efficiencies, OP&F will be changing how benefit recipients receive information about their monthly benefit. Effective January 1, 2009, benefit recipients will no longer automatically receive a statement every month that shows information regarding their benefit.

Rather than receive a statement each month, members will be able to review their monthly statements online by January. OP&F will be adding a secure section to its Web site allowing members to view and print monthly statements.

The OP&F Board of Trustees approved the plan where statements are mailed only in the months that a member�s benefit amount changes. For example, if a member receives a Cost of Living Allowance increase in July of each year, that member would receive a statement reflecting the new amount as well as any associated additions and deductions. Statements will also be mailed any time the net amount of the benefit changes. In addition, members automatically receive a year-end statement, regardless of whether or not there is a change in the net benefit.

Currently, OP&F mails statements to approximately 28,000 benefit recipients every month. Nearly every month these statements are exactly the same and show the same additions or deductions on each statement. OP&F believes that the cost savings of eliminating these repetitive statements is a prudent business decision. In 2007, OP&F spent $130,000 printing and mailing monthly benefit statements. Sending statements only when the benefit amount changes would significantly reduce this cost.

Direct Deposit
The other change in effect beginning January 1, 2009, will require benefit recipients to enroll in electronic direct deposit. Currently, 91 percent of OP&F benefit recipients use the convenience of Direct Deposit. Direct Deposit remains the easiest, most reliable, timely and also the most secure method of receiving your benefit. Direct Deposit enrollment forms are available on the OP&F Web site and also by contacting OP&F Customer Service at 800-860-9599.

In June OP&F sent letters to all benefit recipients regarding these changes. In July those who still receive their monthly benefit check in the mail were recently sent a Direct Deposit application form. OP&F will continue to provide information concerning these initiatives throughout the year.