The issue date of pension payments to police and fire retirees and their eligible survivors shall be the first business day of each month.
Chapter 742-7 | Benefits
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Rule 742-7-02 | Use of member's records.
(A) All records and files of the board and Ohio police & fire pension fund ("OP&F") shall be public information, including an employer's status of the payment of contributions generally due under sections 742.30, 742.31, 742.33, and 742.34 of the Revised Code, but shall not include any member's personal history record (as hereinafter defined), except as otherwise provided by law. A member's personal history record may only be released to the member or a third party upon OP&F's receipt of a written authorization from the member or his/her authorized representative or agent using forms provided by OP&F or a form substantially similar to OP&F's form, subject to any internal policies adopted by OP&F and to the extent provided by such authorization, but any such authorization must be signed before a notary public. (B) "Member's personal history record" includes all information related to an OP&F member, including the name, address, telephone number, social security number, record of contributions, correspondence to or from OP&F, any report of a pre-employment physical, any medical reports and recommendations (subject to the terms of paragraph (C) of this rule), the status of any application for benefits, any record identifying the service history or service credit of a member or benefit recipient, but excluding: (1) The member's status with OP&F (i.e. active or retired but does not include whether or not the member made an election to participate in DROP); (2) The award given to survivors by the board of trustees for an application for benefits under the Ohio public safety officers death benefit fund and the member's name and employer; and (3) Any information disclosed by OP&F in accordance with the permitted exceptions of the Health Insurance Portability And Accountability Act of 1996 and OP&F HIPAA policies and procedures. (C) Medical reports and recommendations are considered to be the property of Ohio police and fire pension fund. The medical reports and recommendations for a member may be released to the member, unless an OP&F physician or psychiatrist determines for OP&F that the disclosure of information is likely to have an adverse effect on the member. In the event the OP&F physician or psychiatrist determines that a disclosure of medical reports and recommendations to a member will have an adverse effect on the member, the information shall only be released to a physician, psychiatrist, or psychologist who is designated by the member or his/her authorized representative or agent only after OP&F's receipt of a written authorization from the member or his/her authorized representative or agent using forms provided by OP&F or a form substantially similar to OP&F's form, subject to any internal policies adopted by OP&F to the extent provided by such authorization. Notwithstanding any other restrictions referenced in this rule, the medical reports and recommendations of a member may be released to OP&F appointed physicians and vocational evaluators when necessary for the proper administration of the benefits offered by OP&F. Except as otherwise provided in this rule, these records may be released to the member and may be released to the member's attorney, physician, or duly authorized agent only upon written authorization of the member or the member's authorized representative or agent using forms provided by OP&F or a form substantially similar to OP&F's form, but any such authorization must be signed before a notary public. Any other release is prohibited. (D) As provided by law and only at the request of any organization or association of members of OP&F, OP&F shall provide a list of names and addresses of members and other system retirants (as defined in section 742.26 of the Revised Code). OP&F shall comply with such a request at least once a year. (E) Reasonable fees may be charged for any expenses incurred in compiling, copying, mailing, or examining the records of OP&F. (F) The executive director may designate a staff member to authenticate retirement system's records of OP&F that will be sent to a court officer of this state. (G) An authorization given by a member or his/her authorized agent or representative shall be valid for only one year from the date that it was issued. (H) OP&F shall make the determination on compliance with the terms of this rule and its decision shall be final. (I) For purposes of this rule, "member" has the same meaning as in division (E) of section 742.01 of the Revised Code. Supplemental Information |
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Rule 742-7-03 | Payment date of benefits.
Except as otherwise required by law, all benefits and division of property order payments shall be issued by Ohio police and fire pension fund ("OP&F") as follows: (A) For benefit recipients and alternate payees who receive payment by direct deposit, OP&F shall transfer the funds to the financial institution on record on the first business day of each month. In the event the first business day of the month falls on a legal holiday, the funds will be transferred on the first business day following the legal holiday. (B) For benefit recipients and alternate payees who cannot receive payment by direct deposit, OP&F shall mail checks on the last business day of the month. Supplemental Information |
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Rule 742-7-07 | Pre-retirement survivor annuity.
(A) The board will authorize payment of the benefits created by section 742.3714 of the Revised Code when the board determines that: (1) A deceased or former member was, on the date of death, eligible to retire and to receive an immediate pension under division (C)(1) or (C)(3) of section 742.37 of the Revised Code, but had not retired because he/she had not severed employment as a police officer or fire fighter; and (2) The deceased member is survived by a spouse or "contingent dependent beneficiary" eligible to receive the benefit. (B) A "contingent dependent beneficiary" is eligible to receive the benefits provided by section 742.3714 of the Revised Code if, on the date of the member's death, the "contingent dependent beneficiary": (1) Can show that he/she was dependent upon the member for at least fifty per cent of his or her annual income; and (2) Had been designated as a "contingent dependent beneficiary" on a form provided by the board that was properly executed by the member. (C) Annually, the board shall make reasonable efforts to notify all members who are eligible to name a "contingent dependent beneficiary" of their right to do so. A form to designate a "contingent dependent beneficiary" shall be made available to a member upon request, with the understanding that the notice will be sent to the most recent address on file with Ohio police and fire pension fund ("OP&F"). The form is properly executed only when it has been completed and signed by the member, notarized, and received by OP&F at its office. A member may designate only one person to be a "contingent dependent beneficiary." A member may change the designation at any time by completing a new form; only the latest dated designation will be effective. No person is a "contingent dependent beneficiary" eligible to receive benefits, unless OP&F has a properly executed form on file as of the date of the member's death. Last updated October 16, 2023 at 12:06 PM Supplemental Information |
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Rule 742-7-08 | Cost-of-living allowance.
(A) The benefits and contributions of any member shall be calculated on the basis of the member's salary as defined by divisions (G) and (L) of section 742.01 of the Revised Code and rule 742-3-02 of the Administrative Code. (B) All members having fifteen years of service credit as of January 1, 1989 shall be provided a form upon which they can elect the basis of benefit and contribution calculations under section 742.3716 of the Revised Code. For purposes of this determining a member's eligibility for this election, years of service credit shall include any credit purchased prior to January 1, 1989. (C) A beneficiary's "anniversary date" shall be July first, for those eligible for the first cost-of-living allowance on that date or the anniversary of the beneficiary's effective date of retirement or benefits for those not eligible for the first cost-of-living allowance. When a beneficiary's anniversary date does not fall on the first of a month, a pro rata payment of the first month's cost-of-living allowance shall be paid. (D) A beneficiary's "base benefit" shall be the amount of a benefit first calculated upon retirement, and shall exclude any medicare reimbursement, any amount by which a member reduces benefits under an optional plan of payment pursuant to section 742.3711 of the Revised Code, any actuarial reduction for early retirement, and any previous cost-of-living increases. (E) The benefit paid to an eligible survivor under an optional plan of payment shall be based upon the amount last received by the member, excluding medicare reimbursement and the amount of any reduction chosen by the member, but including any cost-of-living allowance received by the member. Such survivor shall be entitled to cost-of-living adjustments based upon the original base of the survivor under the optional plan of payment. (F) Upon the election by an eligible member to cancel an optional plan of payment and to return to a single life annuity, previously awarded cost-of-living allowances shall be adjusted to the amount the member would have received had the member always been paid a single life annuity. Last updated October 16, 2023 at 12:06 PM Supplemental Information |
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Rule 742-7-09 | Medicare part "A" or "B" eligibility; payment of medicare part "B" premium; treatment of medicare part "B" payment.
(A) For purposes of division (B) of section 742.45 of the Revised Code, "satisfactory evidence of the payment for coverage" shall mean filing of the medicare part "B" reimbursement statement in the form approved by OP&F or the medicare billing statement, along with a copy of the applicant's medicare card or a letter from medicare in lieu of a medicare card. No retroactive reimbursement will be made. For any inaccurate or incorrect statement made on the medicare part "B" reimbursement statement, OP&F reserves all rights to recover monies associated with a covered person's failure to comply with such provisions. (B) In accordance with divisions (C) and (D) of section 742.45 of the Revised Code, OP&F shall not reimburse the medicare part "B" premium to a benefit recipient who is receiving or should be receiving reimbursement for this premium from any other source and the member or benefit recipient shall be deemed to consent to the recovery of any overpayment by deduction from his/her monthly pension or benefit. If another Ohio retirement system is responsible to provide health care to such recipient, OP&F shall not be responsible to pay the medicare part "B" reimbursement. No retroactive payment shall be given. (C) The recipient of the medicare part "B" reimbursement shall be deemed to consent to the recovery of any overpayment by deduction from his/her monthly pension or benefit. The monthly deduction shall be an amount equal to the greater of: (1) The monthly amount determined by dividing the amount of the overpayment by the time period over which the overpayment occurred; (2) The monthly amount of OP&F's medicare part "B" reimbursement on the month in which deductions are to commence; or (3) The monthly amount agreed to in writing by the recipient. (D) Effective January 1, 2002, the reimbursement of medicare part "B" payments made by OP&F to eligible beneficiaries under section 742.45 of the Revised Code shall not be considered "benefits" under division of property orders and child and spousal support orders since these payments are reimbursement of expenses incurred by such beneficiary. Last updated October 16, 2023 at 12:06 PM Supplemental Information |
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Rule 742-7-11 | Health reimbursement arrangement and stipend program.
(A) Definitions As used in this rule and rule 742-7-12 of the Administrative Code: (1) "Age and service retiree" means a former member who is receiving a retirement allowance pursuant to division (C) of section 742.37 of the Revised Code. (2) "Claims administrator" means the third party administrator selected by OP&Fs board of trustees to administer the health reimbursement arrangement. (3) "Dependent" means an eligible spouse or child of an eligible benefit recipient. (4) "Disability benefit recipient" means a member who is receiving a benefit or allowance pursuant to section 742.38 or former division (C)(2), (C)(3), or (C)(4) of section 742.37 of the Revised Code. (5) "Effective date of retirement" shall have the same meaning as rule 742-3-01 of the Administrative Code. (6) "Eligible benefit recipient" means an age and service retirant, disability or survivor benefit recipient who is eligible for the health reimbursement arrangement and stipend program. (7) "Form" shall mean the form created, approved, and/or provided by OP&F for the administration of benefits found on the OP&F website at www.op-f.org. (8) "Health reimbursement arrangement" or "HRA" means the non-interest bearing, record keeping arrangement funded by Ohio police and fire pension fund established for an eligible age and service retiree, disability benefit recipient, or survivor benefit recipient from which the reimbursement of qualifying health-related expenses may be made. (9) "Medicare" is the program administered by the United States government that provides health insurance coverage to individuals who are age sixty-five and older or under the age of sixty-five and permanently physically disabled or have a congenital physical disability or who meet other special criteria set forth by the federal government. (10) "Qualifying life event" or "QLE" shall have the same meaning as defined in the federal Patient Protection and Affordable Care Act of 2010, 42 U.S.C. 18001 ("ACA"), or its successor provision and applicable regulations thereunder. (11) "Retiree health exchange" means the individual or family medical and prescription drug plans available for purchase through OP&Fs third party administrator. (12) "Stipend" means the annual health care allowance determined by the board of trustees and allocated to each benefit recipient enrolled in the health reimbursement arrangement program. (13) "Survivor benefit recipient" means a beneficiary receiving a benefit pursuant to division (D), (E), or (F) of section 742.37 of the Revised Code. (B) HRA and stipend (1) Effective January 1, 2019, Ohio police and fire pension fund will pay a stipend to the health reimbursement arrangement established for an eligible age and service retiree, disability benefit recipient, or survivor benefit recipient who is enrolled in the HRA program. (2) The stipend credited to an HRA shall be a flat dollar amount determined by OP&F based on the number of individuals covered under the HRA and the medicare status of such individuals. For each calendar year that an individual is covered under the retiree health exchange, OP&F will credit the full years stipend to the individuals HRA on the first day of January of that year. If the individual becomes eligible for medicare during the year, the stipend credited to the HRA shall be prorated. (3) If an eligible age and service retiree or disability benefit recipient purchases an individual medicare medical or prescription drug plan through the retiree health exchange for his or her eligible spouse or dependents, or enrolls with them in an ACA-accredited qualified health plan that includes the ten-essential benefits, the stipend amount for a calendar year shall be the stipend amount for that year, plus an additional amount determined by the board of trustees. If coverage is terminated for a spouse or dependents, the stipend amount will remain credited to the age and service retiree or disability benefit recipients HRA, but no further amounts shall be credited to the HRA. (4) An eligible age and service retiree or disability benefit recipient who enrolls in the HRA and stipend program may receive a stipend for his or her spouse and dependents, as long as the spouse and dependents enroll in a medical or prescription drug plan through the retiree health exchange or enroll in an ACA-accredited qualified health plan that includes the ten-essential benefits and be continuously enrolled thereafter. If an age and service retiree or disability benefit recipients spouse is also a member of OP&F, retires from OP&F and is eligible to participate in the HRA program, both the age and service retiree or disability benefit recipient and his or her spouse will receive a separate HRA. (5) The funds in an HRA shall not rollover from one year to the next. Any unused balances by the end of an HRA plan year are forfeited and shall return to OP&F. (6) Eligible expenses that do not exceed the balance of the HRA can be reimbursed if the expenses are incurred during the time of participation in the HRA. Expenses are eligible only to the extent that they are not paid for by the individuals existing health care coverage. (7) OP&F shall have the right to terminate, cancel, or discontinue the HRA and stipend program at any time and for any reason. (C) Eligibility (1) An age and service retiree, disability benefit recipient, or survivor benefit recipient is eligible to enroll in the health reimbursement arrangement program funded by a stipend from OP&F if such individual: (a) Is enrolled in the group healthcare plan sponsored by OP&F ceasing on December 31, 2018, and is either enrolled in medicare part A or part B or is not eligible for medicare due to disability; (b) Is not enrolled in both medicare part A and part B and is enrolled in the group healthcare plan sponsored by OP&F ceasing on June 30, 2019; (c) Is not enrolled in, or opted out of, the group healthcare plan sponsored by OP&F, but is eligible to enroll in the future. Such individual may enroll outside of his or her initial eligibility period upon experiencing a qualified life event. (2) An age and service retiree, disability benefit recipient, or survivor benefit recipient is not eligible for an HRA or receive a stipend if such individual: (a) Is eligible for medicare and is not enrolled in medicare part A and part B, or is enrolled in one Part but not the other; (b) Is a re-employed retiree under section 742.26 of the Revised Code; (c) Is pre-Medicare eligible, but enrolled in a plan that does not meet minimum essential coverage, as defined in the federal Patient Protection and Affordable Care Act of 2010, 42 U.S.C. 18001, or its successor provision and applicable regulations thereunder; (d) Has access to any other group health care or prescription drug coverage through his or her own employment, retirement, or other program; (e) Is already enrolled prior to January 1, 2019 in any non-medical or non-prescription drug individual policy through the retiree health exchange. (D) Enrollment (1) To participate in the HRA and receive a stipend from OP&F, an eligible age and service retiree, disability benefit recipient, or survivor benefit recipient shall do all of the following: (a) Enroll in a medicare medical or prescription drug plan through the retiree health exchange or in an eligible individual or family qualified health plan that includes that ten-essential benefits within sixty days after his or her effective date of retirement or a qualifying life event and be continuously enrolled thereafter. (b) File a health care stipend eligibility form with OP&F in the form provided by OP&F. (c) Enroll in medicare part A and medicare part B at his or her first eligibility date. (2) If an age and service retiree, disability benefit recipient or survivor benefit recipient does not enroll in medicare medical and/or prescription drug coverage through the retiree health exchange or in an individual or family qualified health plan that includes the ten-essential benefits within the timeframes prescribed in this rule, the age and service retiree, disability benefit recipient or survivor benefit recipient will be deemed to have waived participation in the HRA and stipend program and will not receive a stipend from OP&F. (E) Termination of participation in HRA and stipend program (1) An individuals participation in the HRA program ends on the earliest of the following dates on which: (a) The individual dies; (b) The individual loses eligibility for the HRA for any reason; (c) The individual is no longer enrolled in a medicare plan through the retiree health exchange or an individual or family qualified health plan that includes the ten-essential benefits; (d) The HRA is terminated. (2) If participation in the HRA and stipend program is terminated, an age and service retiree, disability benefit recipient or survivor benefit recipient can only become eligible to participate again upon the occurrence of a qualifying life event. (3) If an enrolled individual terminates his or her medical or prescription drug coverage that was purchased through the retiree health exchange, any stipend amount remaining in the HRA after any eligible expenses are reimbursed shall be forfeited. (4) If an individual enrolled in the HRA program dies and does not have a surviving spouse, any stipend amount remaining in the HRA shall be forfeited, except that an estate may, within six months following the date of death, file a request for reimbursement of eligible health care expenses that were incurred prior to the individuals death. If the deceased individual has an eligible surviving spouse who is participating in the HRA, the surviving spouse shall become the holder of the HRA as long as he or she continues to meet the eligibility requirements until his or her death or the termination of the program. The surviving spouse, as holder of the HRA, may receive an increased stipend amount for an eligible surviving child until the end of the calendar year. The increased stipend amount for a child will cease and he or she will cease to be eligible to participate in the HRA program when the surviving spouse dies or ceases to be eligible for an HRA. A surviving child shall not be permitted to become the holder of the HRA. Last updated April 22, 2024 at 8:33 AM Supplemental Information |
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Rule 742-7-12 | Low income assistance program.
(A) OP&F may offer an increase in the stipend amount to an eligible benefit recipient who meets the criteria established by OP&Fs board of trustees for such an increase. If such an increase is offered, the eligible benefit recipient requesting the increase shall annually file a request with OP&F in a form provided by OP&F and submit a copy of their most recently filed federal income tax return. If the eligible benefit recipient does not file federal income tax, the eligible benefit recipient shall complete an affidavit provided by OP&F certifying this fact. (B) A request for a stipend increase shall be filed prior to the date provided on the request form in order to be eligible for an increased stipend for the applicable period. If the eligible benefit recipient fails to file the request by the deadline date provided by OP&F, no increase in the stipend may be granted for that year, even if the eligible benefit recipient meets the criteria established by the board of trustees to receive an increase in the stipend. There will be no retroactive increases in the stipend amount. (C) The stipend increase amounts established by board of trustees shall be effective on January first of each year through and including December thirty-first of that year. (D) To receive any increase in a stipend, an eligible benefit recipient shall have a total household income equal to or less than a percentage, which shall be annually established by the board of trustees, of the poverty level established annually by the United States department of health and human services. (E) If an increase in a stipend is granted by OP&F, a change in the household income of the eligible benefit recipient shall not impact the increased stipend granted to that person for the increase period provided the person originally met the criteria at the time the request for a stipend increase was filed. If an increase in the stipend has not been granted by OP&F, and a decline in the household income of that eligible benefit recipient occurs from and after the deadline date referenced in paragraph (B) of this rule, the eligible benefit recipient shall not be allowed to receive an increased stipend. (F) By filing a request for an increase in a stipend, the eligible benefit recipient authorizes OP&F to recover any increase in a stipend granted as a result of a false or inaccurate statement made by the eligible benefit recipient or their authorized representative. OP&F reserves the right to request additional information for verification purposes. Last updated April 22, 2024 at 8:34 AM Supplemental Information |
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Rule 742-7-14 | Recognition of pick-up of contributions.
(A) For reporting and tax purposes, the Ohio police and fire pension fund ("OP&F") will recognize any payment of a member's contributions under section 742.32 of the Revised Code or amounts designated by the member's employer for the purchase of service credit by payroll deduction with picked-up contributions if the member's employer has adopted and filed with OP&F a resolution authorizing the deduction and payment of contributions or service credit purchases for its employees with amounts designated as picked-up contributions under section 414(h)(2) of the Internal Revenue Code, in such form approved by OP&F's board of trustees, including an effective date (the "approved resolution"). The resolution must be filed at least thirty days prior to submitting contributions to OP&F as picked-up. (B) The employer's reporting requirement under section 742.32 of the Revised Code shall also include the reporting of picked-up contributions consistent with the terms of this rule. (C) To be compliant for reporting purposes under section 742.32 of the Revised Code and rule 742-9-10 of the Administrative Code, the employer must meet the following criteria: (1) Timely file with OP&F a resolution authorizing the payment of contributions or purchase of service credit for its employees with amounts designated as picked-up contributions under section 414(h)(2) of the Internal Revenue Code in accordance with the deadline outlined in paragraph (A) of this rule; (2) Timely report the amount of picked-up contributions by member as part of section 742.32 of the Revised Code and rule 742-9-10 of the Administrative Code and consistent with the applicable approved resolution on file with and approved by OP&F; (3) Timely file a separate resolution for police and fire and then by unit/division, if applicable, or clearly outline the pick-up by unit/division; (4) Timely file any changes to any approved resolution, which needs to be reviewed and approved by OP&F as if it were an originally-filed approved resolution; (D) Applicable penalties and interest will apply for employers who fail to: (1) Timely file a resolution for picked-up contributions with OP&F in accordance with the deadlines of this rule; and (2) Timely report picked-up contributions under section 742.32 of the Revised Code. (E) If OP&F receives an employer report under rule 742-9-10 of the Administrative Code that does not conform to the resolution on file with OP&F, OP&F shall send a written notice to the employer of the non-conforming nature of the resolution or reporting and allow the employer to have an opportunity to take corrective actions noted in the notice within thirty days of OP&F's written notice. OP&F shall not assess further penalties and interest under section 742.35 of the Revised Code until the expiration of this grace period for those employers who fail to take the corrective action noted by OP&F's written notice. (F) For those employers who file an approved resolution and report contributions as picked-up, but fail to provide an effective date, this shall not be deemed to be non-compliant. In this case, the effective date will be the date of authorized signature or other supporting documentation provided by the employer, which is acceptable to OP&F. (G) The requirements of this rule shall also apply to any changes or modifications to picked-up contributions and they will be treated as if they are a new resolution. Last updated October 16, 2023 at 12:07 PM Supplemental Information |
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Rule 742-7-15 | Delinquent employers payment plan.
(A) For outstanding fines and penalties due under sections 742.352 and/or 742.353 of the Revised Code, OP&F shall offer a delinquent employer a payment plan if the employer meets the following criteria: (1) The employer has no past due employee contributions; and (2) The employer has satisfied any pre-existing payment plan promissory note; and (3) The employer meets one of the following criteria: (a) Employers on fiscal watch or fiscal emergency, as defined by the auditor of state, and who have past due contributions or have accrued reporting and/or pre-employment penalties and interest; or (b) Employers who have accrued reporting and/or pre-employment penalties and interest which exceed the dollar amount of past due employer contributions, which have been past due for three or more quarters; or (c) Employers who are inactive and have past due employer contributions, penalties, or interest; or (d) Employers who have employer contributions that are three or more quarters past due and have no ability to pay (based on the financial formulas outlined below). (i) Penalties and interest exceed twenty-five per cent of general fund revenues; or (ii) Penalties and interest exceed eighty per cent of general fund ending fund balance; or (iii) Penalties and interest exceed fifty per cent of general fund receipt over expenditures. (B) The offering of this plan of payment by OP&F will precede any actions taken by OP&F to certify the amount due from the employer in accordance with section 742.35 of the Revised Code. (C) The plan of payment shall be offered to the employers who meet the criteria outlined in paragraph (A) of this rule in accordance with the following provisions: (1) OP&F will review the eligibility of certain employers who may be able to take advantage of a payment plan. OP&F will notify those employers of the program and request that such employers contact OP&F for additional information. (2) For any inquiries received from employers, OP&F will notify such employers of their eligibility to participate in a payment plan. (3) OP&F shall designate a deadline by which the employer must elect to participate in the payment plan and sign the required documentation and if the employer fails to meet the deadlines, the payment plan will not be available to the employers and penalties and interest will continue to accrue. (4) The employer will have several payment term options in order to permit the employer to choose the best option within the employer's budget considerations, but in no event will the term exceed fifteen years. (5) The employer must sign a promissory note and agreement that will require signature by the designated authorities/officers of the municipality. (6) As a condition to participating, the employer must pay in full all past accumulated interest incurred to date to OP&F. Should the employer be unable to remit the interest accrued in full, and all other conditions are met, the board will permit the employer to enter into the payment plan, however the employer's payments will be first applied to the accrued interest portion and then to the past due balance related to contributions and penalties. Interest on those past due balances and penalties will apply until the remaining balance is fully satisfied and based on the repayment term. The total repayment term is limited to the provisions otherwise outlined in paragraph (C)(4) of this rule. (7) Upon OP&F's receipt of the required documents from the employer, further penalties will be suspended in exchange for the time certain repayment of funds due to OP&F made on a regular, periodic basis (monthly) as outlined on the payment schedule. (8) For active employers who are participating in full compliance with the payment plan, the payment for regular quarterly bills will continue as normal and the billing statement will remove any reference to the unpaid penalties and interest covered under this arrangement unless the employer defaults. (9) Interest will be calculated on accumulated penalty balance based on payment term selected. The balance due (penalty and interest) is to be amortized and repaid within the terms of the promissory note at the actuarial assumed rate of interest. (10) The employer will be given strict payment dates with a fifteen day grace period for late payments. Further, each employer will only be allowed two late payments in any twelve calendar months. Employers will be notified of their late payment and failure to conform to promissory note terms on each occurrence may trigger a default covered by paragraph (D) of this rule. (D) Failure to comply with the terms of the signed promissory note and agreement as described in paragraph (C) of this rule will put the employer in default status and OP&F shall terminate the agreement, at its option, and re-establish penalties retroactively back to the effective date of the promissory note, with a reduction of penalties for all payments of principal and interest made under the promissory note. The exercise of OP&F's right to declare a default shall be determined by OP&F's executive director. (1) Upon default, the employer will be notified of the employer's failure to conform to the terms of the promissory note and agreement as well as OP&F's decision to terminate the agreement. (2) OP&F will initiate the certification process with the county where the employer resides to collect the balance of funds due to OP&F. (E) All payments due under a payment plan shall be made as follows: (1) Payments shall be due on the first of each month. (2) Payments for active employers shall be sent to OP&F separately and not commingled with normal employer and employee contribution, which are paid quarterly. (3) There is no prepayment penalty; excess amounts will be applied to principal. (4) At the end of the term, any overpayments due to prepayment will be refunded back to the employer. (5) Bounced checks will be charged back to employers with fees consistent with normal OP&F practices. Last updated October 16, 2023 at 12:07 PM Supplemental Information |
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Rule 742-7-16 | Guardianship.
(A) Except as provided in paragraph (E) of this rule, guardianship of the estate shall be required to do any of the following on behalf of a member or benefit recipient who has a legal disability, as defined in division (A) or (D) of section 2131.02 of the Revised Code: (1) Apply for retirement or other benefits or payments on behalf of the member or benefit recipient; (2) Elect an annuity payment plan and designate a beneficiary or beneficiaries, but only upon providing a court order approving the selection of the annuity payment plan and beneficiary designation; and (3) Elect, or make any changes to, the payment of benefits or other monies that are due or become due to the member or benefit recipient, but only with a court order authorizing the release of funds or comparable order from another state that directs the payment of the benefits or other monies to be paid to the guardian or to a specific account at a financial institution. (B) A guardian of the person is eligible to receive the account information of a member or benefit recipient, but may not make any changes regarding the account. (C) A guardian of the estate, the person, or both shall provide OP&F with a copy of the "Letters of Guardianship" issued by the probate court showing his or her appointment as guardian. (D) In lieu of guardianship, a court of competent jurisdiction may issue a limited order pursuant to section 2111.02, 2111.021, 2111.05 or 2111.131 of the Revised Code or comparable law from another state that directs OP&F to issue a member or benefit recipients payment to a specific person or entity, and specifies the address and direct deposit routing and account numbers for the financial institution to receive such payment. (E) Any benefits or payments that are due a benefit recipient who is a minor may be issued to the natural parent caring for the benefit recipient or the legal custodian of the benefit recipient. After the age of eighteen, payments shall be issued directly to the benefit recipient unless the benefit recipient is subject to an ongoing guardianship. Last updated April 18, 2023 at 8:27 AM Supplemental Information |