3307:1-5-04 Amounts due and unpaid at death of benefit recipient.

Amounts due to a retirant receiving retirement benefits under a plan described in division (A) of section 3307.60 of the Revised Code and unpaid at death shall be paid to the retirant's surviving beneficiary or beneficiaries under the plan on a prorated basis. The amount payable to each surviving beneficiary shall be determined by multiplying the amount due the retirant by a fraction whose numerator is the gross monthly amount the beneficiary will be paid and whose denominator is the total gross monthly amount all beneficiaries will be paid.

Cite as Ohio Admin. Code 3307:1-5-04

Effective: 5/7/2015
Five Year Review (FYR) Dates: 02/20/2015 and 05/01/2020
Promulgated Under: 111.15
Statutory Authority: 3307.04
Rule Amplifies: 3307.58, 3307.59, 3307.60
Prior Effective Dates: 10/27/06