(A) Application pursuant to section 3309.42 of the Revised Code for payment of accumulated contributions standing to the credit of a member's individual account in the employees' savings fund shall be made on a form provided by the school employees retirement system. The applicant's signature on the form must be notarized if no contributions have been credited to the account within the twelve month period preceding the month in which the application is received and the account balance exceeds two thousand dollars.
(B) A member may withdraw an application as follows:
(1) If the refund 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 refund 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 refund 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.
R.C. 119.032 review dates: 01/14/2010 and 02/01/2015
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