Combined Plan Your Investment Options
One of the most important features of the Combined Plan is the flexibility you have to make investment decisions suitable for your individual needs.
Since you are directing your investments and accepting the risk, be prepared to take an active role.
This means carefully considering all your investment options, developing an investment strategy and maintaining your account. You are also responsible for monitoring the performance of your account.
Your Investment Options
You can choose from 10 target date funds (TDFs), five passively managed standalone funds, five actively managed standalone funds, a Self-Directed Brokerage Account, or any combination of these options.
Remember:
In the Combined Plan plan you get to choose how to invest your account. Some members may invest everything into one or more target date funds, whereas other members may choose to allocate their investments across several standalone funds. If you select the Member-Directed Plan, your investments will default to the TDF closest to your 65th birthday. You may change your investment options if you choose.
Target Date Funds
OPERS offers 10 passively managed target date funds at a lower cost than actively managed funds. They are a one-stop investment option for your long-term retirement planning.
- Managed by BlackRock® investment experts in index funds and overseen by OPERS Investments staff.
- As your target date (and retirement) approaches, the investments get more conservative. This helps to reduce the impact regular market fluctuations have on your account. Of course, you are permitted to choose different target dates, or more than one target date, depending on your individual expectations and investment goals.
- If you work past the retirement date of the target date fund you have chosen, it will have reached maturity and convert into the LifePath Retirement Fund. (Members can reallocate this money to another fund, including another target date fund).
Passively Managed Standalone Funds
OPERS offers five Standalone funds ranging from lower-risk, income-oriented options to higher-risk, growth-oriented options.
- Managed by BlackRock investment experts and overseen by OPERS Investments staff.
- Offers you the chance to invest in sections of the market with managers who choose the stocks or bonds.
- These funds may offer increased risk/reward.
Actively Managed Standalone Funds
In addition to the Stable Value Trust, OPERS will begin offering four more actively managed funds ranging from lower-risk, income-oriented options to higher-risk, growth-oriented options.
- Managed by external investment experts and overseen by OPERS Investments staff.
- Offers you the chance to invest in sections of the market with managers who choose the stocks or bonds.
- These funds may offer increased risk/reward, including the potential to outperform, or underperform, the manager benchmark, for a higher fee relative to passively managed funds.
- The same or similar products may be found on Schwab through the Self-Directed Brokerage window at a similar or higher fee.
Returns For All Investment Options
- View the most recent month end returns (PDF opens in new tab)
Self-Directed Brokerage Account
Members in the Member-Directed Plan with an established account have the option to choose a Self-Directed Brokerage Account, through Charles Schwab's Personal Choice Retirement Account®. This account provides members with the ability to choose mutual funds and unlevered, long-only Exchange Traded Funds (ETFs) outside of the core OPERS investment options.
In order to participate in the OPERS Self-Directed Brokerage Account, the following requirements must be met:
- You must be an OPERS Member-Directed or Combined plan participant.
- Your individual account balance must be a minimum of $5,000 before the self-directed brokerage account can be established.
- A maximum of 90 percent of your individual account balance can be invested in the self-directed brokerage account.
Enroll in the OPERS Self-Directed Brokerage Account
If your account meets the criteria above, you’re eligible to enroll in the Charles Schwab PCRA.
Learn how to enroll
More information on the OPERS Self-Directed Brokerage Account
- Video: OPERS Self-Directed Brokerage Account
- Schwab PCRA Enrollment Guide
- Commissions and Transaction Fees for Trade Orders
- Schwab PCRA fact sheet
- List of Exchange Traded Funds (ETFs) available to the plan
To learn more visit the Education Resources page or the Investments page.
Your account value in the Member-Directed Plan or the defined contribution portion of your Combined Plan is not a guaranteed amount. It is dependent on the performance of the investment options you select.