Ohio Deferred Compensation

Financial ServicesOhio, United States11-50 Employees

The Ohio Public Employees Deferred Compensation Program (Ohio DC) administers a governmental 457(b) retirement plan for Ohio’s public employees and their beneficiaries, one of the largest supplemental 457(b) plans in the country. Based in Columbus, Ohio, deferred compensation has been its sole responsibility since 1976, and it is created and governed by Ohio Revised Code Chapter 148 to provide a supplemental retirement option for current and former public employees. The program is administered by OPERS through an uncompensated board. External managers oversee the investment options, with the board and an independent investment consultant selecting and monitoring them, and fiduciaries acting in participants’ best interests. Participants have access to educational tools, a diverse set of investment choices, low fees, flexible savings and withdrawal options, and portability when changing jobs within the public sector. In 2020, Bank of New York Mellon was named custodian for Ohio DC.

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