742-4-08 COLA anniversary.

(A) For purposes of Section 742.3716 of the Revised Code, any requirement that a member be receiving a pension or benefit under this chapter for more than one year shall include the DROP benefit determined in accordance with section 742.442 of the Revised Code for a DROP Participant who later elects benefits under division (C)(1) of section 742.37 of the Revised Code. For example, if a DROP participant’s effective date is February 1, 2003 and the member later elects benefits under division (C)(1) of section 742.37 of the Revised Code on March 20, 2010, all cost of living adjustment benefits paid pursuant to section 742.37 16 of the Revised Codeshall be based on the February first anniversary date.

(B) Capitalized terms used in this rule shall have the meaning assigned to them in rule 742-4-01 of the Administrative Code(definitions).

R.C. 119.032 review dates: 04/01/2008 and 04/01/2013

Promulgated Under: 111.15

Statutory Authority: 742.10, 742.43

Rule Amplifies: 742.3716

Prior Effective Dates: 04/06/2003