Chapter 3307-1 General Provisions

3307-1-01 Rules.

(A) The Except as otherwise provided in Chapter 3307. of the Revised Code, the state teachers retirement board shall adopt rules pursuant to section 111.15 of the Revised Code.

(B) Any person or organization may obtain notice of any proposed amendment, rescission, or adoption of a rule by making a written request to be placed on the mailing list to receive the retirement board's meeting agenda. Notice need not be provided to more than one representative of an organization.

(C) The retirement system shall take all actions requested or required by the legislative service commission to facilitate publication of rules in the Administrative Code. Notice and information about any adopted rule or rule change shall also be provided to employers and, where applicable, shall also be reported in publications sent to members, contributors, retirants, and benefit recipients.

R.C. 119.032 review dates: 03/18/2013 and 03/18/2018
Promulgated Under: 111.15
Statutory Authority: 3307.04
Rule Amplifies: 3307.04
Prior Effective Dates: 12/23/76, 12/26/97, 7/1/01 (Emer.), 9/17/01, 7/24/08

3307-1-02 Notice of meetings.

(A) This rule is adopted in compliance with, and under the authority of division (F) of section 121.22 of the Revised Code,

(B) Any person may ascertain the time and place of all regularly scheduled meetings of the state teachers retirement board of Ohio and the time, place, and purpose of all special meetings of the state teachers retirement board of Ohio by:

(1) Writing to the following address:

"State Teachers Retirement System

275 East Broad Street

Columbus, Ohio 43215-3771"

(2) Calling the following telephone number during the normal business hours: (614) 227-4090.

In addition, any person may request, in writing, advance notice of all regular meetings of the state teachers retirement board of Ohio. The state teachers retirement system of Ohio shall maintain a list of all persons who have requested such notice and shall no later than five calendar days prior to each meeting, send to such persons by first class mail or e-mail an agenda of the meeting.

(C) Any representative of the news media may obtain notice of all special meetings by requesting in writing that such notice be provided. Such notice will only be given, however, to one representative of any particular publication or radio or television station. A request for such notification shall be addressed to: "Executive Director, State Teachers Retirement System of Ohio, 275 East Broad Street, Columbus, Ohio 43215-3771."

The request shall provide the name of the individual media representative to be contacted, the mailing address and a maximum of two telephone numbers for contacting the requesting party. The state teachers retirement system of Ohio shall maintain a list of all representatives of the news media who have requested notice of special meetings pursuant to paragraph (C) of this rule.

(D) In the event of a special meeting not of an emergency nature, the state teachers retirement system of Ohio shall notify all media representatives on the list of such meeting by doing at least one of the following:

(1) Sending written notice , which must be mailed no later than four calendar days prior to the day of the special meeting;

(2) Sending notice by e mail which must be sent no later than twenty-four hours prior to the time of the meeting;

(3) Notifying such representatives by telephone no later than twenty-four hours prior to the special meeting; such telephone notice shall be complete if a message has been left for the representative, or if, after reasonable effort, the state teachers retirement system of Ohio has been unable to provide such telephone notice;

(4) Informing such representative personally no later than twenty-four hours prior to the special meeting.

(E) In the event of a special meeting of any emergency nature, the state teachers retirement system of Ohio shall immediately notify all media representatives on the list of such meeting by providing either the notice described in paragraph (D)(1) or (D)(2) of this rule, or that described in paragraph (D)(3) or (D)(4)of this rule, or notifying the clerk of the state house press room. In such event, however, the notice need not be given twenty-four hours prior to the meeting, but shall be given as soon as possible.

(F) In giving the notices required by paragraph (C) of this rule the state teachers retirement system of Ohio may rely on assistance provided by any member of the state teachers retirement system and such notice is complete if given by such member in the manner provided in paragraph (C) of this rule.

Effective: 06/02/2013
R.C. 119.032 review dates: 03/18/2013 and 05/23/2018
Promulgated Under: 111.15
Statutory Authority: 3307.04
Rule Amplifies: 121.22
Prior Effective Dates: 12/23/76, 12/26/81, 12/26/97, 7/1/01 (Emer.), 9/17/01, 7/18/03, 7/24/08

3307-1-03 Release of names, addresses and account information.

Information contained in records kept by the state teachers retirement system shall be released to third parties or the public in accordance with this rule.

(A) Except as provided by division (E) of section 3307.20 of the Revised Code, the following records may be released to a third party only upon the written authorization of the person to whom the record pertains:

(1) Any part of an individual's personal history record, including but not limited to, any record identifying beneficiary information, account balance, benefit or allowance paid or payable to any person, any record identifying the service history or service credit of a member or benefit recipient, or any record that includes address, e mail address, telephone number, social security number, appointments, requests, counseling information or correspondence with the retirement system.

(2) Medical reports and recommendations shall not be released, except that such reports or recommendations shall be made available to the member's or individual's physician, attorney or authorized agent upon the member's or individual's written authorization and, further, may be released to a physician assigned by the state teachers retirement board when necessary for the proper administration of the retirement system.

(B) Notwithstanding the restrictions set forth in paragraph (A)(1) of this rule, the retirement system shall provide complete lists of names and mailing addresses of members or benefit recipients at the written request of any person pursuant to division (E)(3) of section 3307.20 of the Revised Code. The retirement system may charge the requestor the costs of compiling and mailing the information.

(C) The executive director of the state teachers retirement system may designate the staff members who shall serve as custodians of the records of the system and who are authorized to authenticate copies of records being sent to the courts and officers of this state.

Effective: 06/02/2013
R.C. 119.032 review dates: 03/18/2013 and 05/23/2018
Promulgated Under: 111.15
Statutory Authority: 3307.04
Rule Amplifies: 3307.20
Prior Effective Dates: 12/23/76, 12/26/81, 8/28/82, 4/28/86, 11/4/91, 5/8/98, 7/1/01 (Emer.), 9/17/01, 7/18/03, 7/24/08, 3/23/09 (Emer), 7/16/09

3307-1-04 Financial report.

Annually the state teachers retirement system shall prepare and publish a comprehensive financial report that complies with all applicable statutory requirements and that is in accordance with generally accepted accounting principles.

R.C. 119.032 review dates: 03/18/2013 and 03/18/2018
Promulgated Under: 111.15
Statutory Authority: 3307.04
Rule Amplifies: 3307.121
Prior Effective Dates: 12/23/76, 12/26/97, 7/1/01 (Emer.), 9/17/01, 4/29/03

3307-1-05 Policy on investment department performance based incentive programs.

(A) Pursuant to section 3307.04 of the Revised Code, payment of employee bonuses are subject to the guidelines established by the state teachers retirement board as reflected in the performance based incentive award program for investment exempt associates. The award program shall be reviewed and approved on an annual basis by the board, and may be interpreted, amended, rescinded, and/or terminated at any time in the board's discretion. The award program shall establish target incentive awards based on the state teachers retirement system's total fund performance and the investment associates individual goals. Any and all material modifications to the award program, including, but not limited to the determination of award program payouts and actual payouts, require the board's prior approval.

(B) Participation in the award program is limited to certain state teachers retirement system investment professionals. Participation in the award program in any one year does not confer the right to participate in the program in the current or any other year and does not confer the right to continued employment.

R.C. 119.032 review dates: 03/18/2013 and 03/18/2018
Promulgated Under: 111.15
Statutory Authority: 3307.04
Rule Amplifies: 3307.041
Prior Effective Dates: 5/5/05, 4/28/08

3307-1-06 Ohio-qualified agents and investment managers.

(A) For purposes of division (A)(4) of section 3307.152 and section 3307.154 of the Revised Code, an investment manager may be designated as an "Ohio-qualified investment manager" if the investment manager and/or any parents, affiliates, or subsidiaries of the investment manager meets the requirements of divisions (A)(1) and (A)(2) of section 3307.154 of the Revised Code.

(B) For purposes of section 3307.154 of the Revised Code, "principal place of business" includes an office in which the agent or investment manager regularly provides securities or investment advisory services and solicits, meets with, or otherwise communicates with clients.

(C) For purposes of division (E)(4) of section 3307.152 of the Revised Code and division (C)(4) of section 3307.154 of the Revised Code, "compensation" shall mean the commissions paid on equity securities transactions and the cost or proceeds on fixed income securities transactions.

Effective: 06/02/2013
R.C. 119.032 review dates: 03/18/2013 and 05/23/2018
Promulgated Under: 111.15
Statutory Authority: 3307.10
Rule Amplifies: 3307.152 , 3307.154
Prior Effective Dates: 5/5/05