145-3-34 Purchase of exempted service credit.

(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.