Chapter 742-10 Employees Bonuses

742-10-01 Policy on employee bonuses.

In accordance with division (B) of section 742.102 of the Revised Code, any discretionary non-recurring awards (bonuses) shall be determined and approved each year by the board of trustees of Ohio police and fire pension fund (OP& F). Non-recurring awards may be granted only if OP& F's board of trustees had adopted a budget allocation for non-recurring awards. Each OP& F department director may use allotted funds to reward employees, as appropriate, throughout the year, subject to the limitations set forth in this rule and terms of the discretionary non-recurring award (bonus) program adopted by OP& F's board of trustees. The recommended awards are limited to one payment per year, which shall be limited by the terms of the approved budget and subject to approval by the executive director. At no time shall any non-recurring award in a given calendar year, exceed the lesser of three per cent of an individual's base wages or three thousand five hundred dollars.

Five Year Review (FYR) Dates: 11/19/2018 and 11/19/2023
Promulgated Under: 111.15
Statutory Authority: 742.10, 742.102
Rule Amplifies: 742.102
Prior Effective Dates: 01/10/2005

742-10-02 Qualified investment manager.

(A) For the purposes of division (A)(4) of section 742.114 and section 742.116 of the Revised Code, an investment manager may be designated as an "Ohio-qualified investment manager" if the investment manager and/or any parent, affiliates, or subsidiaries of the investment manager meets the requirements of divisions (A)(1) and (A)(2) of section 742.116 of the Revised Code.

(B) For purposes of sections 742.114 and 742.116 of the Revised Code, "principal place of business" includes an office in which the agent or investment manager regularly provides securities or investment advisory services and solicits, meets with, or otherwise communicates with clients.

Effective: 1/17/2016
Five Year Review (FYR) Dates: 11/02/2015 and 01/07/2020
Promulgated Under: 111.15
Statutory Authority: 742.10
Rule Amplifies: 742.114, 742.116
Prior Effective Dates: 9/26/2005