3309-1-38 Interest rate.

(A) Except as otherwise provided in Chapter 3309. of the Revised Code or SERS rules, the rate of compound interest for the purchase or restoration of service credit under Chapter 3309. of the Revised Code or SERS rules shall be the rate guaranteed by the retirement board at time of purchase, as recommended by the actuary, and such rate of compound interest shall be applied to the entire period purchased or restored.

Effective: 04/01/2013
R.C. 119.032 review dates: 01/07/2013 and 02/01/2018
Promulgated Under: 111.15
Statutory Authority: 3309.04
Rule Amplifies: 3309.01(I) , 3309.021 , 3309.022 , 3309.26 , 3309.31 , 3309.451 , 3309.473 , 3309.474 , 3309.58 , 3309.73 , 3309.75
Prior Effective Dates: 12/24/76, 2/1/92, 1/2/93, 11/1/96, 11/9/98, 5/2/01, 2/11/02, 5/9/03