Lawriter - OAC - 3309-1-07 Application for payment upon termination of employment.

3309-1-07 Application for payment upon termination of employment.

(A) For purposes of this rule, "retirant" means a "SERS retirant" or "other system retirant" as defined in section 3309.341 of the Revised Code, or a member who retired under section 3309.343 of the Revised Code.

(B) An application for payment of the accumulated contributions in a member's individual account pursuant to section 3309.42 of the Revised Code shall meet the following requirements:

(1) The application shall be signed by the member. If the account balance exceeds two hundred dollars, the member's signature must be notarized or witnessed by a SERS counselor.

(2) The application of a member who has worked in a SERS-covered position during the six month period preceding the application must include an employer certification completed by the employer's treasurer's office or finance personnel.

(C) An application for a single life annuity or a return of contributions pursuant to section 3309.344 of the Revised Code shall meet the following requirements:

(1) The application shall be signed by the retirant and notarized or witnessed by a SERS counselor.

(2) The application of a retirant who has worked in a SERS-covered position during the six month period preceding the application must include an employer certification completed by the employer's treasurer's office or finance personnel.

(D) For purposes of division (A)(2) of section 3309.42 of the Revised Code, "eligible for age and service retirement" means a member is eligible for retirement under section 3309.34, 3309.36, or 3309.381 of the Revised Code on or before the first of the month following the date the application for a refund is received by the school employees retirement system.

(E) The retirement board waives the requirement of spousal consent in division (A)(2) of section 3309.42 of the Revised Code upon receipt of one of the following:

(1) The written statement of the spouse's physician certifying that the spouse is medically incapable of consent;

(2) A certified copy of a probate court order appointing a guardian for the spouse due to a finding of incompetence; or

(3) The affadavits of the member and at least two other persons, one of whom must be unrelated to the member, attesting that the whereabouts of the spouse is unknown.

(F) A member or retirant may withdraw an application as follows:

(1) If the payment has not been sent, by delivering a signed written request over the applicant's signature to withdraw the application to the retirement system, prior to the date the payment is sent or,

(2) If the payment has been sent, by returning to the retirement system the warrant uncashed with a signed written request over the applicant's signature to withdraw the application and, if applicable, a personal check or money order for any amounts deducted from the refund amount and disbursed by the retirement system as authorized by law no later than thirty days after receipt of the check by the member or financial institution designated by the member.

(3) If the payment was distributed as a direct rollover pursuant to rule 3309-1-53 of the Administrative Code, by delivering to the retirement system a signed written request over the applicant's signature to withdraw the application, and if the retirement plan that received the distribution returns to the retirement system the full amount transferred not later than sixty days after the transfer.

Effective: 5/15/2017
Five Year Review (FYR) Dates: 02/01/2019
Promulgated Under: 111.15
Statutory Authority: 3309.04
Rule Amplifies: 3309.23, 3309.42
Prior Effective Dates: 12/24/76, 1/2/93, 2/11/00, 5/14/05, 4/2/10, 3/30/15, 8/13/15