Rule 145-3-29 | Purchase of military service credit.
(A) This rule amplifies section 145.302 of the Revised Code as applicable to members participating in the combined plan and sections 3.12 and 24.02 of the combined plan document.
(B) A member participating in the combined plan may purchase service credit under section 145.302 of the Revised Code and section 3.12 of the combined plan document.
(C) The member shall submit report(s) of separation (form DD214) or other satisfactory documentation to the public employees retirement system as evidence of the member's military service and discharge.
(D) If a member has been in military service more than once as evidenced by more than one report of separation or service and wishes to purchase credit under section 145.302 of the Revised Code for more than one period of military service, interest as set in rule 145-1-35 of the Administrative Code shall be charged from the date the member last terminated military service.
(E) For military service purchased under section 3.12 of the combined plan document:
(1) A member shall have at least twelve months of contributing service for purposes of the calculation described in paragraph (E)(2) of this rule;
(2) The retirement system shall calculate the cost by using the greater of the member's final average salary or earnable salary for the twelve months of contributing service under Chapter 145. of the Revised Code immediately preceding the month in which the application to purchase is received by the system.
The cost of the service credit shall be not less than fifty percent of the additional liability to the combined plan resulting from that year of service as determined by an actuary employed by the public employees retirement board.
(F) Where applicable, the member's public employer shall certify information including, but not limited to, the earnable salary the member would have earned during the member's military service on a form provided by the retirement system.
(G) The employer contributions due pursuant to section 145.302 of the Revised Code shall be billed to the employer for payment after the member has paid all or part of the employee contributions due. If the employer fails to make the payments required, any employer amounts not paid shall be certified for collection and subject to the same penalty and interest described in section 145.51 of the Revised Code.
Last updated September 30, 2024 at 12:36 PM
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