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(A) This rule amplifies sections 145.81 and 145.811 of the Revised Code.
(B) To meet the requirements of section 401(a) of the Internal Revenue Code, the public employees retirement board shall adopt the documents entitled the “public employees retirement system of Ohio defined contribution plan” and the “public employees retirement system of Ohio combined defined benefit/defined contribution plan.” The board may amend the provisions of the plans in accordance with the provisions of the plan documents.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80
Rule Amplifies: 145.81, 145.811.
Prior Effective Dates: 1/1/03.
(A) The combined plan consists of all of the following:
(1) Sections 145.01 to 145.20 and 145.80 to 145.98 of the Revised Code and any corresponding administrative rules;
(2) The provisions of the plan document for the PERS combined defined benefit/defined contribution plan, and any amendments thereto;
(3) Any rules adopted pursuant to section 145.80 of the Revised Code.
(B) The member-directed plan consists of all of the following:
(1) Section 145.01 to 145.20 and 145.80 to 145.98 of the Revised Code and any corresponding administrative rules;
(2) The provisions of the plan document for the PERS defined contribution plan, and any amendments thereto;
(3) Any rules adopted pursuant to section 145.80 of the Revised Code.
HISTORY: Eff 1-1-03; 12-24-04
Rule promulgated under: RC 111.15
Rule authorized by: RC 145.80
Rule amplifies: RC 145.81, 145.82.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
(A) This rule amplifies section 145.86 of the Revised Code.
(B) Contributions and reports for each payroll period shall be transmitted to the system in the same manner as required under section 145.51 of the Revised Code and rule 145-1-27 of the Administrative Code.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.48, 145.51, 145.86.
Prior Effective Dates: 1/1/03.
(A) This rule amplifies section 3.04 of the combined plan document and member-directed plan document.
(B) A member participating in the combined plan or member-directed plan who makes a payment of additional after-tax contributions to the member’s miscellaneous contribution account shall remit the payment with a form provided by the public employees retirement system.
Effective: 08/09/2007
R.C. 119.032 review dates: 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.81.
Prior Effective Dates: 7/1/07 (Emer.); 12/24/04; 1/1/03
(A) This rule amplifies section 24.03(a)(2) and (3) of the combined plan document and section 21.03(a)(2) and (3) of the member-directed plan document.
(B) The public employees retirement board shall establish the administrative fee, if any, to be assessed under section 24.03(a)(2) and (3) of the combined plan document and section 21.03(a)(2) and (3) of the member-directed plan document.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.81, 145.88.
Prior Effective Dates: 1/1/03.
(A) This rule amplifies section 8.01(c) of the member-directed plan document and section 8.04(c) of the combined plan document.
(B) For purposes of section 8.01(c) of the member-directed plan document and section 8.04(c) of the combined plan document, “eligible for benefits under article IX” means a participant is eligible for a benefit under section 9.01 of the member-directed plan document or combined plan document with an effective retirement benefit date on or before the first of the month following the date application for a refund is received by the public employees retirement system.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.81.
Prior Effective Dates: 1/1/03.
(A) This rule amplifies sections 9.02(b) and 9.03(e) of the combined plan document and section 9.02(b) of the member-directed plan document.
(B) For payment options under the combined plan or the member-directed plan, the board may waive the requirement of spousal consent in accordance with rule 145-1-70 of the Administrative Code.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.81.
Prior Effective Dates: 1/1/03.
(A) This rule amplifies section 9.03(e) of the combined plan document and, in the case of a monthly annuity payment option only, sections 9.02 of the combined and member-directed plan documents.
(B) Beneficiary and plan of payment changes for a retirement allowance under section 9.03(e) of the combined plan document or for a monthly annuity under section 9.02 of the combined plan document shall be made in accordance with rules 145-2-44, 145-2-46, and 145-2-47 of the Administrative Code.
(C) Beneficiary and plan of payment changes for a monthly annuity under section 9.02 of the member-directed plan document shall be made in accordance with rules 145-2-44 and 145-2-47 of the Administrative Code.
Replaces: 145-3-61.
Effective: 10/27/2006
R.C. 119.032 review dates: 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.09.
Rule Amplifies: 145.80.
Prior Effective Dates: 12/24/04, 1/1/03.
(A) This rule amplifies section 9.03(e) of the combined plan document and, in the case of a monthly annuity payment option only, sections 9.02 of the combined and member-directed plan documents
(B) Designation of beneficiaries pursuant to a plan of payment under which a portion of the benefit continues, after the death of the retirant, to two, three, or four surviving beneficiaries shall be made in accordance with rule 145-2-60 of the Administrative Code.
Effective: 10/27/2006
R.C. 119.032 review dates: 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.09.
Rule Amplifies: 145.80.
(A) This rule amplifies section 9.03(e) of the combined plan document and, in the case of a monthly annuity payment option only, sections 9.02 of the combined and member-directed plan documents.
(B) Calculation of the amount due to a retirant receiving a benefit pursuant to a plan of payment under which a portion of the benefit continues, after the death of the retirant, to two, three, or four surviving beneficiaries shall be calculated in accordance with rule 145-2-62 of the Administrative Code.
Effective: 10/27/2006
R.C. 119.032 review dates: 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.09.
Rule Amplifies: 145.80.
(A) This rule amplifies section 9.03(e) of the combined plan document and, in the case of a monthly annuity payment option only, sections 9.02 of the combined and member-directed plan documents.
(B) The priority of multiple court orders shall be established in accordance with rule 145-2-64 of the Administrative Code.
Effective: 10/27/2006
R.C. 119.032 review dates: 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.09.
Rule Amplifies: 145.80.
(A) This rule amplifies division (C) of section 145.82 of the Revised Code and section 3.05 of the combined plan document.
(B) Subject to the requirements of paragraph (C) of this rule, a member participating in the combined plan may purchase service credit under division (Y) of section 145.01 and section 145.20, 145.201, 145.28, 145.29, 145.291, 145.2911, 145.293, 145.295, 145.299, 145.2913, 145.301, 145.302, 145.44, or 145.47 of the Revised Code.
(C) A member particpating in the combined plan may purchase the service credit listed in paragraph (B) of this rule, subject to the following requirements:
(1) For purposes of determining the member’s eligibility to purchase the service credit, “contributing service in the system” shall mean contributing service under the combined plan.
(2) For service credit purchased under section 145.299 of the Revised Code, the system shall obtain from its actuary certification of the additional liability to the combined plan for each month of credit the member is eligible to purchase.
(3) For service credit purchased under section 145.301 of the Revised Code, the cost shall be determined in accordance with rule 145-3-29 of the Administrative Code.
(4) For service credit purchased under section 145.44 of the Revised Code, “full liability” shall be determined by the actuary based on the member’s participation in the combined plan.
(5) Any other requirements listed in this chapter.
HISTORY: Eff 1-1-03; 12-24-04
Rule promulgated under: RC 111.15
Rule authorized by: RC 145.80
Rule amplifies: RC 145.01, 145.20, 145.201, 145.28, 145.29, 145.291, 145.293, 145.295, 145.299, 145.2911, 145.2913, 145.301, 145.302, 145.44, 145.47, 145.81, 145.82
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
(A) This rule amplifies division (B) of section 145.97 of the Revised Code and section 3.06 of the combined plan document.
(B) A member participating in the combined plan or a former member who participated in the combined plan may redeposit the amounts withdrawn under article VIII of the combined plan, subject to all of the following:
(1) The member or former member has at least eighteen months of contributing service in the combined plan or in the Ohio police and fire pension fund or state highway patrol retirement system;
(2) The member or former member shall redeposit the amount withdrawn with interest on that amount compounded annually at a rate to be determined by the public employees retirement board from the first day of the month of withdrawal to and including the month of redeposit.
(3) If a former member is eligible to buy the service credit as a member of the Ohio police and fire pension fund, state highway patrol retirement system, or the city of Cincinnati retirement system, the former member is ineligible to restore that service credit under this section.
(C) The amount withdrawn shall be redeposited and credited as follows:
(1) To the employers’ accumulation fund, the amount that equals the amount, if any, distributed under section 8.02 of the combined plan document.
(2) To the member’s accounts, as defined in section 1.01 of the combined plan document, the amount distributed under section 8.01 of the combined plan document.
(3) To the member’s account in the employees’ savings fund, any remaining amount including the interest required in paragraph (B)(2) of this rule.
(D) The member may choose to purchase only part of such credit in any one payment, subject to rules adopted by the board. Except for the amount described in paragraph (C)(1) of this rule, the amounts paid to restore service credit under this rule shall vest as described in section 7.01 of the combined plan document.
HISTORY: Eff 1-1-03; 12-24-04
Rule promulgated under: RC 111.15
Rule authorized by: RC 145.80
Rule amplifies: 145.81, 145.82, 145.97
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
The term “three years of contributing service or membership” as used in section 145.20 of the Revised Code means thirty-six months of contributing service to the public employees retirement system.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.20, 145.81, 145.82.
Prior Effective Dates: 1/1/03.
A retirant under the combined plan shall be permitted to reopen the retirant#s case for the purpose of receiving additional prior service credit, as defined in section 145.01 of the Revised Code, not claimed at the time of retirement under the defined benefit component of the combined plan. The increased allowance on such additional service credit shall become payable the month after the evidence is submitted to and accepted by the public employees retirement board.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.01, 145.81, 145.82.
Prior Effective Dates: 1/1/03.
A member participating in the combined plan may purchase service credit under section 145.293 of the Revised Code in accordance with rule 145-2-04 of the Administrative Code.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.81, 145.82, 145.293
Prior Effective Dates: 1/1/03.
(A) This rule amplifies section 145.30 of the Revised Code as applicable to members participating in the combined plan.
(B) Definitions
(1) “Maintained his membership” means any of the following:
(a) The member’s contributions to the combined plan under section 145.85 of the Revised Code remained with the public employees retirement system during the military service;
(b) The member’s contributions before the military service were refunded under article VIII of the combined plan document and redeposited in accordance with rule 145-3-22 of the Administrative Code;
(c) The member was exempt from membership or not a contributor to the retirement system before the member’s military service, but Chapter 145. of the Revised Code authorizes a retroactive payment to establish membership before the member’s military service.
(2) “Military service,” “total service credit as defined in section 145.01 of the Revised Code of twenty years,” and “was or is out of active service as a public employee by reason of having become a member of the armed forces” have the same meanings as described in rule 145-2-05 of the Administrative Code.
(3) “Was a member” means membership before the member’s military service was established in the same manner as described in paragraph (B)(1) of this rule.
(C) (1) The service credit to which a member is entitled shall be calculated from the date the member entered military service through the date the military service terminated.
(2) The member shall submit to the retirement system report(s) of separation (form DD214) or other satisfactory documentation as evidence of the member’s military service and discharge.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.30, 145.81, 145.82.
Prior Effective Dates: 1/1/03.
(A) This rule amplifies sections 145.301 and 145.302 of the Revised Code as applicable to members participating in the combined plan and section 24.02 of the combined plan document.
(B) A member participating in the combined plan may purchase service credit under sections 145.301 and 145.302 of the Revised Code in accordance with rule 145-2-06 of the Administrative Code. Notwithstanding section 145.301 of the Revised Code, the cost of the service credit shall be not less than fifty percent of the additional liability to the combined plan resulting from that year of service as determined by an actuary employed by the public employees retirement board.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.301, 145.302, 145.81, 145.82.
Prior Effective Dates: 1/1/03.
(A) This rule amplifies section 145.201 of the Revised Code as applicable to members participating in the combined plan.
(B) A member participating in the combined plan may purchase service credit under section 145.201 of the Revised Code in accordance with rule 145-2-07 of the Administrative Code.
(C) A member participating in the combined plan may elect to receive a refund of amounts paid to purchase service credit under section 145.201 of the Revised Code in accordance with rule 145-2-07 of the Administrative Code.
Effective: 07/01/2007
R.C. 119.032 review dates: 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.09, 145.80
Rule Amplifies: 145.201, 145.82
Prior Effective Dates: 4/6/07(Emer.); 1/1/03
(A) This rule amplifies section 145.299 of the Revised Code as applicable to members participating in the combined plan.
(B) A member participating in the combined plan may purchase service credit under section 145.299 of the Revised Code in accordance with rule 145-2-08 of the Administrative Code.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.09, 145.80.
Rule Amplifies: 145.299, 145.81, 145.82.
Prior Effective Dates: 1/1/03.
(A) This rule amplifies section 145.28 of the Revised Code as applicable to members participating in the combined plan.
(B) A member participating in the combined plan may purchase service credit under section 145.28 of the Revised Code in accordance with rule 145-2-09 of the Administrative Code. Notwithstanding section 145.28 of the Revised Code, annually, the public employees retirement board shall set the percentage rate for the cost of such service credit for participation in the combined plan, based on its actuary’s recommendation, and the interest rate to be charged if the service credit is purchased in more than one payment.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.09, 145.80.
Rule Amplifies: 145.28, 145.81, 145.82.
Prior Effective Dates: 1/1/03.
(A) This rule amplifies section 145.295 of the Revised Code as applicable to members participating in the combined plan.
(B) Any payments made by a member to purchase credit pursuant to section 145.295 of the Revised Code shall not be refunded to a member except as authorized under article VIII of the combined plan document or division (C) of section 145.295 of the Revised Code.
HISTORY: Eff 1-1-03; 12-24-04
Rule promulgated under: RC 111.15
Rule authorized by: RC 145.80
Rule amplifies: RC 145.295, 145.81, 145.82
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
(A) This rule amplifies section 145.291 of the Revised Code as applicable to members participating in the combined plan.
(B) A member participating in the combined plan may purchase service credit under section 145.291 of the Revised Code in accordance with rule 145-2-13 of the Administrative Code.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.291, 145.81, 145.82.
Prior Effective Dates: 1/1/03.
(A) This rule amplifies sections 145.2910, 145.2911, and 145.2912 of the Revised Code as applicable to members participating in the combined plan.
(B) Except as provided in paragraph (C) of this rule, a member participating in the combined plan may purchase service credit under sections 145.2910, 145.2911, and 145.2912 of the Revised Code in accordance with rule 145-2-15 of the Administrative Code.
(C) A member participating in the combined plan who makes additional deposits as provided in paragraph (C)(4)(b) of rule 145-2-15 of the Administrative Code, may choose to receive a return of any payments made by the member to this system, or have such payment accrue in the member’s miscellaneous contribution account pursuant to article 3.04 of the combined plan document.
HISTORY: Eff 1-1-03; 12-24-04
Rule promulgated under: RC 111.15
Rule authorized by: RC 145.80
Rule amplifies: RC 145.2910, 145.2911, 145.2912, 145.81, 145.82.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
(A) As used in this rule, “firefighter” has the same meaning as in rule 145-1-50 of the Administrative Code.
(B) A firefighter employed before May 1, 1991, who is or becomes a member on May 1, 1991, may purchase the firefighter service as described in rule 145-2-17 of the Revised Code.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.81, 145.82.
Prior Effective Dates: 1/1/03
(A) This rule amplifies section 145.814 of the Revised Code and section 6.02 of the member-directed plan document.
(B) For each member who elects to transfer funds from the member-directed plan to purchase service in the combined plan under division (C)(2) of section 145.814 of the Revised Code and section 2.03 of the member-directed plan document, the public employees retirement system shall prepare a statement of cost for service credit to be purchased in the combined plan based on participation in the member-directed plan, at the request of an eligible member. An actuary employed by the public employees retirement board shall determine the additional liability, as defined in section 145.814 of the Revised Code, if any.
(C) An eligible member shall purchase the service credit only by a lump-sum payment of the amount on deposit, as defined in rule 145-1-35 of the Administrative Code, except that a member described in division (C)(3)(a) of section 145.814 of the Revised Code may, by payroll deduction under rule 145-1-38 of the Administrative Code, pay any additional liability that exceeds the amount on deposit. Service credit purchased under this rule shall be included in the member’s total service credit in the combined plan.
(D) Service credit purchased under this rule cancels the corresponding years of participation in the member-directed plan.
HISTORY: Eff 11-15-03; 1-1-03; 12-24-04
Rule promulgated under: RC 111.15
Rule authorized by: RC 145.80
Rule amplifies: RC 145.81, 145.8214R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
(A) This rule amplifies division (C) of section 145.82 of the Revised Code and sections 10.02 and 10.03 of the combined plan document.
(B) Subject to paragraph (C) of this rule, a member participating in the combined plan who has disability coverage under section 10.01 of the combined plan document may apply for disability benefits in accordance with rule 145-2-21 of the Administrative Code.
(C) In addition to the agreement required under paragraph (C)(1)(d) of that rule, a member participating in the combined plan shall, prior to the public employees retirement board’s approval of the member’s application, elect one of the options listed in section 10.03 of the combined plan document.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.81, 145.82.
Prior Effective Dates: 1/1/03.
(A) This rule applies when the public employees retirement board denies an application for a disability benefit filed under rule 145-3-41 of the Administrative Code.
(B) After the board has denied an application under rule 145-3-41 of the Administrative Code, the board shall comply with rule 145-2-23 of the Administrative Code.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.81, 145.82.
Prior Effective Dates: 1/1/03.
(A) This rule amplifies division (C) of section 145.82 of the Revised Code and section 11.02 of the combined plan document.
(B) Subject to division (C)(1) of section 145.45 of the Revised Code, the beneficiary or beneficiaries of a deceased member participating in the combined plan may elect to forfeit the sums payable under article VIII of the combined plan document and to substitute survivor benefits if the beneficiary or beneficiaries:
(1) Meet the requirements of section 145.45 of the Revised Code;
(2) Elect to transfer to the traditional pension plan under section 11.02 of the combined plan document.
HISTORY: Eff 1-1-03; 12-24-04
Rule promulgated under: RC 111.15
Rule authorized by: RC 145.80
Rule amplifies: RC 145.45, 145.81, 145.82
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Where dependency is required for eligibility for benefits under rule 145-3-51 of the Administrative Code, proof of dependency shall be made in accordance with rule 145-2-31 of the Administrative Code.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.45, 145.81, 145.82.
Prior Effective Dates: 1/1/03.
In the absence of a valid marriage certificate, validity of marriage shall be established in accordance with rule 145-2-35 of the Administrative Code.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.43, 145.81, 145.82.
Prior Effective Dates: 1/1/03.
Rescinded eff 10-27-06
Rescinded eff 12-24-04
(A) This rule amplifies sections 9.02(a) and 9.03(a) of the combined plan document.
(B) Benefits available pursuant to section 9.03(a) of the combined plan document shall be effective in accordance with rule 145-2-51 of the Administrative Code.
(C) Benefits available pursuant to section 9.02(a) of the combined plan document shall be effective on the later of the following:
(1) The attainment of eligibility under section 9.01 of the combined plan document;
(2) A date determined by the member.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.81, 145.82.
Prior Effective Dates: 1/1/03.
(A) As used in this rule, “alternate payee” has the same meaning as in section 3105.80 of the Revised Code
(B) A benefit recipient who has received an allowance under section 9.03 of the combined plan document for at least twelve months shall have such allowance increased pursuant to section 145.323 of the Revised Code and as provided in this rule on the annual anniversary of the recipient’s effective benefit date.
(C) A new benefit base upon which a cost of living adjustment shall be calculated shall be established when:
(1) A post retirement increase is granted, other than a cost of living adjustment or a payment representing reimbursement of premium for medicare part “B”.
(2) A retirant receiving under plan A or C dies and the surviving beneficiary begins receiving a portion of the amount previously paid to the retirant.
(3) A retirant receiving under plan A, C, or D reverts to plan B as a result of the death of the beneficiary spouse, or divorce or dissolution of marriage as authorized in section 9.03 of the combined plan document and rule 145-3-13 of the Administrative Code.
(4) A retirant receiving under plan F reverts to plan B as a result of the removal of all beneficiaries as authorized in section 9.03 of the combined plan document and rule 145-3-13 of the Administrative Code.
(5) The benefit established at retirement is recalculated for any reason except for a cost of living adjustment or reimbursement of premium for medicare part “B.”
(6) A part of a benefit is waived then the base shall be the portion being paid. If a waiver is withdrawn, the full base shall be re-established.
(D) For allowances that became payable before October 27, 2006, the apportionment of a cost of living adjustment between a benefit recipient and an alternate payee pursuant to section 9.03(d) of the combined plan document shall begin with the next cost of living adjustment granted on or after October 27, 2006, and shall continue while the order is in effect.
Effective: 10/27/2006
R.C. 119.032 review dates: 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.323, 145.81, 145.82.
Prior Effective Dates: 1/1/03.
(A) This rule shall apply only to the death benefit payable pursuant to section 145.451 of the Revised Code.
(B) A retirant may designate a beneficiary or beneficiaries to receive only the death benefit payment.
(1) Such designation may be changed on a form provided by the public employees retirement system.
(2) Unless a different distribution is specified, the death benefit payment shall be divided equally among the surviving beneficiaries if the retirant designated multiple beneficiaries.
(C) If the death benefit is payable to the person responsible for the retirant’s burial expenses, such person shall submit proof of financial liability for these expenses by paid bills or cancelled checks.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.451, 145.81, 145.82.
Prior Effective Dates: 1/1/03.
The public employees retirement board shall set pursuant to division (A) of section 145.473 of the Revised Code the annual interest rate to be credited to the accounts in the employees’ savings fund of members who are participating in the combined plan.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.472, 145.81, 145.82.
Prior Effective Dates: 1/1/03.
(A) This rule amplifies section 21.02 of the member-directed plan document.
(B) A member participating in the member-directed plan may make contributions under section 145.302 of the Revised Code in accordance with rule 145-2-06 of the Administrative Code. Notwithstanding section 145.302 of the Revised Code, a member who makes contributions in accordance with that section shall receive a year or portion of a year of participation, as defined in section 1.38 of the member-directed plan document, rather than service credit.
(C) Contributions received from a member described in paragraph (B) of this rule shall be deposited and credited in accordance with section 3.03 of the member-directed plan document. Contributions received from the member’s employer shall be deposited and credited in accordance with section 3.02 of the member-directed plan document.
R.C. 119.032 review dates: 09/29/2004 and 09/29/2009
Promulgated Under: 111.15
Statutory Authority: 145.80.
Rule Amplifies: 145.302, 145.81.
Prior Effective Dates: 1/1/03.
Rescinded eff 12-24-04
Rescinded eff 12-24-04