(A) Subject to division (B) of this section and sections 145.38, 145.56, 145.57, 145.572, 145.573, and 145.574 of the Revised Code, the right of a member participating in a PERS defined contribution plan to any payment or benefit accruing from contributions made by or on behalf of the member under sections 145.85 and 145.86 of the Revised Code shall vest in accordance with this section.
A member's right to any payment or benefit that is based on the member's contributions is nonforfeitable.
A member's right to any payment or benefit that is based on contributions by the member's employer is nonforfeitable as specified by the plan selected by the member.
(B) This section does not apply to an increase made under section 145.323 of the Revised Code on or after the effective date of this amendment.
Amended by 129th General AssemblyFile No.148,SB 343, §1, eff. 1/7/2013.
Amended by 129th General AssemblyFile No.16,HB 123, §101, eff. 7/29/2011.
Effective Date: 10-01-2002; 2008 SB562 05-13-2008