5505-7-09 Administration of approved division of property orders.

(A) For purposes of administering the terms section of an approved division of property order, if no public retirement program is designated, the order will be administered to the extent that it names a member or retirant of the highway patrol retirement system.

(B) For purposes of administering the type of payment section of an approved division of property order, the following shall apply:

(1) Age and service retirement benefit, including... shall be interpreted to apply to the deferred retirement option plan under section 5505.50 of the Revised Code.

(2) If both age and service retirement benefit options are designated, the retirement system will administer the order as if only the second option is checked, thereby excluding lump sum payments from the division of property.

(3) An account refund shall be divided to the extent of contributions during the time period that is the basis for the numerator under the method of payment section of an approved division of property order.

(4) At the time of distribution under the deferred retirement option plan, pension payment contributions to a deferred retirement option plan shall be divided based upon the provisions of an applicable division of property order. Active member contributions to a deferred retirement option plan shall be divided to the extent that they were accumulated during the time period that is the basis for the numerator under the method of payment section of an approved division of property order.

(5) If no applicable benefits or lump sum payments are designated, the alternate payee shall receive payment from the first benefit payment or lump sum payment for which the participant is eligible to apply and to receive. To the extent that a participant applies for and receives both a benefit payment and a lump sum payment concurrently, the division of property order shall apply to both.

(C) For purposes of administering the method of payment section of an approved division of property order, the following shall apply:

(1) If both the dollar amount and percentage sections are completed, the benefit to be paid to an alternate payee shall be based on the lesser amount as calculated by the two formulas.

(2) The total years of service credit used to calculate a disability pension benefit shall be used as the denominator in calculating the percentage of a benefit to be paid to an alternate payee.

(3) The total years of service as a contributing member to the retirement system, including time participating in the deferred retirement option plan, shall be used as the denominator in calculating the percentage of a benefit to be paid to an alternate payee.

(4) The numerator of the fraction must be within one-half year of the period as calculated by the retirement system.

Effective: 09/28/2010
R.C. 119.032 review dates: 09/28/2015
Promulgated Under: 111.15
Statutory Authority: 5505.07
Rule Amplifies: 5505.261