OP&F News

Secure Act changes age for withdrawals

For tax years beginning after 2019, a new federal law repeals the age restrictions concerning mandatory withdrawals to many types of retirement savings plans. The Secure Act, or the Setting Every Community Up for Retirement Enhancement, was signed into law in December 2019.

Americans will no longer be required to withdraw assets from IRAs and 401(k)s at age 70½. This includes Deferred Retirement Option Plan accruals for OP&F members. These Required Minimum Deductions, or RMDs, will now begin at age 72, including individuals who turn 70½ in the calendar year 2020.

If you turned age 70½ in 2019 and have already begun taking your RMDs, you should generally continue to take your RMDs. The IRS may provide further guidance on this point, so you might want to speak with your tax advisor regarding any 2020 distributions.

Other News

OP&F retirees taking advantage of extended reimbursement deadlines
- Posted August 03, 2020
Pre-Retirement meetings to be webinars this year
- Posted August 03, 2020
Member’s Report Summer Newsletter now available
- Posted July 29, 2020
2019 financial reports now available
- Posted July 14, 2020
OP&F Investment Notes, June 2020
- Posted June 18, 2020
Deadline to submit 2019 health care claims now Sept. 30
- Posted June 16, 2020
Call-in instructions for June Board meeting
- Posted June 15, 2020
Call-in instructions for May Board meeting
- Posted May 18, 2020
Pensions, benefits remain secure despite pandemic
- Posted May 08, 2020
A message from OP&F
- Posted April 30, 2020
Call-in instructions for April Board meeting
- Posted April 27, 2020
Member’s Report Spring Newsletter now available
- Posted April 17, 2020
More meds now stipend-eligible under CARES Act
- Posted April 13, 2020
Eligibility for the OP&F health care stipend: What to do when you have a QLE
- Posted April 08, 2020
Deadline extended to submit 2019 health care claims
- Posted April 08, 2020
Process for DROP distributions clarified
- Posted March 31, 2020
Trustee elections postponed
- Posted March 30, 2020
OP&F Emergency Special Meeting
- Posted March 26, 2020
Call-in instructions for March Board meeting
- Posted March 23, 2020
OP&F phone lines closed through April 17
- Posted March 23, 2020
March Board meeting to be conducted via teleconference only
- Posted March 20, 2020
A message to members from the OP&F Board Chair…
- Posted March 16, 2020
March Board meeting reduced to one day
- Posted March 13, 2020
OP&F receives Certificate of Transparency award
- Posted March 06, 2020
The Bridge for first responders
- Posted March 04, 2020
Three trustee positions up for election this spring
- Posted March 02, 2020
OP&F Investment Notes, February 2020
- Posted February 27, 2020
OP&F receives recognition for 2018 financial reporting
- Posted February 17, 2020
Trustee election materials available on Monday, Feb. 3
- Posted January 31, 2020
OP&F benefits contribute $1.8 billion to Ohio’s economy, 14,393 jobs in 2018
- Posted January 29, 2020
OP&F Investment notes, January 2020
- Posted January 24, 2020
The Bridge sponsoring retreat for first responders
- Posted January 21, 2020
Secure Act changes age for withdrawals
- Posted January 10, 2020
Webinars planned to inform about Medicare choices
- Posted January 10, 2020
Member’s Report Winter Newsletter now available
- Posted January 08, 2020
2020 Direct deposit dates for benefit payments
- Posted December 23, 2019
Pre-Medicare open enrollment extended until Dec. 18
- Posted December 17, 2019
Reminder for Medicare retirees: open enrollment period ends Saturday, Dec. 7
- Posted December 02, 2019
DROP distributions information
- Posted November 27, 2019
Medicare Part D “Donut Hole” changes for 2020
- Posted November 26, 2019
YSA has new mailing address for stipend reimbursements
- Posted November 22, 2019
Blue Cross/Blue Shield plans from Solidarity Health Network are stipend-eligible
- Posted November 19, 2019
OP&F working with Aon to resolve online issues
- Posted November 18, 2019
Pre-Medicare retirees: what plans are available in my county?
- Posted November 01, 2019
Higher DROP interest rate approved by Board
- Posted October 29, 2019
OP&F Investment Notes, October 2019
- Posted October 25, 2019
Court dismisses claims against OP&F in health care case
- Posted October 23, 2019
DROP distributions information
- Posted October 17, 2019
Latest actuarial study shows OP&F still meets funding requirements
- Posted October 14, 2019
Member’s Report Fall Newsletter now available
- Posted October 07, 2019
Aon hosting webinars for those unable to attend meetings in person
- Posted October 01, 2019
OP&F Investment Notes, September 2019
- Posted September 26, 2019
Employer Self-Serve Web Reporting video now available
- Posted September 24, 2019
Boy Scouts Annual Flag Raising Ceremony
- Posted September 09, 2019
Budget award presented to OP&F
- Posted September 04, 2019
Board approves premiums, expenses for Tricare insurance for stipend use
- Posted August 29, 2019
Aon schedules statewide health care meetings for September
- Posted August 15, 2019