Lawriter - OAC - 3307:2-7-03 Rollovers received.

3307:2-7-03 Rollovers received.

Direct rollover distributions of pretax amounts may be received by the retirement system as specified by the plan document, provided:

(A) Application shall be on a form provided by the retirement system; and

(B) Application shall be subject to determination by the retirement system that the transferring plan or account is eligible to rollover funds to the plan in which the member participates.

(C) Rollover distributions are initially invested in the "STRS Target Choice Option" that falls immediately before the participant's sixtieth birthday at the time of deposit. Participants may reallocate the funds any time after the deposit is made.

Effective: 8/2/2018
Five Year Review (FYR) Dates: 6/1/2019
Promulgated Under: 111.15
Statutory Authority: 3307.80
Rule Amplifies: 3307.81, 3307.812
Prior Effective Dates: 06/18/2009, 07/01/2013 (Emer.), 09/09/2013, 06/12/2014