Chapter 3307-2 Organization of Board
3307-2-01
Nomination and election of members of the state teachers retirement board.
(A) The executive director is directed to forward notices for the nomination of candidates for "contributing member" and/or "retired teacher member" of the retirement board to all school superintendents, university presidents and other employers for publication, and furnish notice to "retired teacher members" through appropriate means. Such notice shall be issued annually no later than the first of December preceding the election.
(B) Nomination of candidates shall be made as set forth in section 3307.07 of the Revised Code and shall be on petition forms prepared and distributed by the executive director. Petition forms shall clearly state the term of office. Petitions filed on forms other than those indicated herein will not be accepted.
(C) Nominating petitions must be filed annually with the executive director on or before the last Friday in February. Petitions must be received by four-thirty p.m., in the "Retirement System Office, 275 East Broad Street, Columbus, Ohio 43215," on that date.
(D) At the board's directive the executive director may contract with an independent firm to administer the elections.
(E) Except where the only nominated candidate takes office pursuant to section 3307.071 of the Revised Code, the executive director shall list the names of all properly qualified candidates on a ballot, arranging for the orderly rotation of names on the ballot. Annually, on or before the fifth of April, ballots and return envelopes shall be sent to all eligible members and retirants of the state teachers retirement system at the last known address.
(F) Voting shall be permitted by paper, telephone and/or internet ballots.
(G) All ballots must be received in the state teachers retirement system or independent contractor office not later than four-thirty p.m., on the first Monday in May.
(H) The executive director shall deliver the ballot results to a board of tellers, composed of members of the retirement system, appointed by the teachers retirement board. The tellers shall meet annually on the first Saturday after the first Monday in May to certify the results of the election.
R.C. 119.032 review dates: 04/28/2008 and 04/28/2013
Promulgated Under: 111.15
Statutory Authority: 3307.04, 3307.075
Rule Amplifies: 3307.06, 3307.07, 3307.071, 3307.075
Prior Effective Dates: 12/23/1976, 11/28/1977, 12/26/1981, 7/1/2001(Emer.), 9/17/2001, 7/18/2003, 12/2/2004
3307-2-02
Election of successor member when vacancy occurs on the state teachers retirement board.
If a vacancy occurs during the term of office of any elected member of the state teachers retirement board, the remaining members of the state teachers retirement board shall elect a successor member, as specified in section 3307.06 of the Revised Code, in the following manner:
(A) Upon being notified that a vacancy occurs, each remaining member of the state teachers retirement board shall have forty-five days in which to nominate one eligible candidate for consideration of election to the vacancy by notifying the secretary to the board of such nomination.
(B) The secretary to the state teachers retirement board shall notify each nominee of his/her nomination and request that within ten days of receipt of the notice he/she submit to the state teachers retirement board biographical information related to his/her nomination on a questionnaire which shall be identical to the one used for the last regular election of a member to the state teachers retirement board.
(C) At the first meeting of the state teachers retirement board following receipt of said questionnaires, the state teachers retirement board, through successive public votes, shall elect the successor member. Through successive public votesthose nominees receiving the lowest number of votes shall be dropped from the list of nominees. The nominee receiving a majority of votes cast shall be elected the successor member and shall hold office until the first day of the new term that follows the next board election that occurs not less than ninety days after the successor member's election.
Effective: 07/24/2008
R.C.
119.032 review dates: 04/28/2008
and 04/28/2013
Promulgated Under:
119.03
Statutory
Authority:
3307.04,
3307.075
Rule
Amplifies:
3307.06,
3307.075
Prior
Effective Dates: 4/7/1983, 2/2/1995, 7/1/2001 (Emer.), 9/17/2001, 12/2/2004
3307-2-03
Board member education and travel policy.
Section 3307.15 of the Revised Code mandates that the retirement board and other fiduciaries of the fund will discharge their duties with care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims; and by diversifying the investments of the retirement system so as to minimize the risk of large losses, unless under the circumstances it is clearly prudent not to do so.
Education of board members is both appropriate and essential to successfully carrying out these fiduciary duties. Board members have an obligation to select such methods of learning as will best enable them to acquire the information and skills needed. In the process of making that selection, board members also have the responsibility to ensure that the expenses incurred are both reasonable and necessary, and that attendance at meetings does not compromise the integrity of the retirement system or unreasonably further a personal financial interest of individuals.
When board members pursue educational opportunities or travel in any capacity as a board member of the retirement system, members shall adhere to the board policies titled "Board Member Education" and "Board Member Travel and Expenses" as amended from time to time.
R.C.
119.032 review dates:
03/18/2013 and
03/18/2018
Promulgated
Under: 111.15
Statutory
Authority:
3307.04,
3307.041
Rule
Amplifies:
3307.10
Prior
Effective Dates: 11/5/95, 7/1/96, 3/17/97 (Emer.), 9/17/01, 7/1/02, 5/5/05,
7/24/08
3307-2-04
Payment of allowances and benefits.
The executive director is authorized to pay monthly retirement allowances and other statutorily mandated benefits during the interim period which may occur between the date such allowances and benefits are payable and the date the retirement board can act as provided in Chapter 3307. of the Revised Code, as such authority so granted is considered as necessary to the proper operation of the retirement system.
Payment of disability benefits stipulated in section 3307.63 or 3307.631 of the Revised Code is authorized to be paid by the executive director when the chairman of the medical review board recommends that medical eligibility has been established and the board has acted to grant the benefit.
Effective: 07/24/2008
R.C.
119.032 review dates: 04/28/2008
and 07/17/2013
Promulgated Under:
111.15
Statutory
Authority:
3307.04
Rule
Amplifies:
3307.04
Prior
Effective Dates: 12/23/76, 12/26/81, 7/1/01 (Emer.), 9/17/01