Ohio Revised Code Search

...(A) The members of the public employees retirement board shall serve without compensation but shall suffer no loss or penalty whatsoever because of absence from their regular employment to attend meetings authorized and called by the board. The board members shall be reimbursed for all actual necessary expenses from the expense fund created under division (E) of section 145.23 of the Revised Code. Any determination ...

...The public employees retirement board shall appoint a committee to oversee the selection of an internal auditor. The committee shall select one or more persons for employment as an internal auditor. The board shall employ the person or persons selected by the committee. The committee shall consist of the following board members: one retirant member, one employee member, and the director of administrative services. T...

... a fiduciary shall not cause the public employees retirement system to engage in a transaction, if he knows or should know that such transaction constitutes a direct or indirect: (1) Sale or exchange, or leasing, of any property between the system and a party in interest; (2) Lending of money or other extension of credit between the system and a party in interest; (3) Furnishing of goods, services, or facilities b...

...(A) The public employees retirement system shall disclose the following to the Ohio ethics commission: (1) Anything of value received by the system from an agent and anything of value given on behalf of the system by an agent; (2) The name of any employee of the system with authority over the investment of retirement system funds or any board member of the system who deals with an agent regarding amounts described ...

... this section is received by the public employees retirement system on or before the last day of the one-hundred-eighty-day period, the individual is deemed to have elected to participate in the PERS defined benefit plan. (B) An election under this section shall be made on a form provided by the system and filed with the system. (C) An election under this section shall take effect on the date employment began...

... of the Revised Code. (B) The public employees retirement system may, in accordance with rules it adopts under this section, consolidate the PERS combined plan with the PERS defined benefit plan for the purpose of administering the definitely determinable benefits under the PERS combined plan and the allowance payable under section 145.335 of the Revised Code. (C) If the system consolidates the PERS combined pl...

...The public employees retirement board shall provide for the maintenance of an individual account with each contributor showing the amount of the contributor's contributions and the interest accumulations thereon. It shall collect and keep in convenient form such data as is necessary for the preparation of the required mortality and service tables, and for an actuarial valuation of the assets and liabilities of the va...

...The public employees retirement board shall establish a period of not more than thirty years to amortize the public employees retirement system's unfunded actuarial accrued pension liability. If in any year the period necessary to amortize the unfunded actuarial accrued pension liability exceeds thirty years, as determined by the annual actuarial valuation required by section 145.22 of the Revised Code, the board, no...

... employers are contributing, the public employees retirement board shall hold all contributions from such employer in a separate fund as long as the inequality of contributions continues. During that period no funds contributed by any other employers shall be used to pay benefits to persons who were employees of such employer at the time of retirement.

...he custodian of the funds of the public employees retirement system, and all disbursements therefrom shall be paid by the treasurer of state only upon instruments authorized by the public employees retirement board and bearing the signatures of the board; provided, that such instruments may bear the names of the board members printed thereon and the signatures of the chairperson, or of the vice-chairperson in case of...

...n Ohio, would be covered by the public employees retirement system, Ohio police and fire pension fund, state teachers retirement system, school employees retirement system, or state highway patrol retirement system; (2) Service for which contributions were made by the member or on the member's behalf to a municipal retirement system in this state, except that if the conditions specified in section 145.2910 of ...

...ing board. (B) A member of the public employees retirement system may purchase credit for service as a school board member if all of the following conditions are met: (1) The member is eligible to retire under this chapter or will become eligible to retire as a result of purchasing the credit. (2) The member agrees to retire within ninety days after receiving notice of the additional liability under section ...

...uest and on notification to the public employees retirement system, the public employees retirement board shall compute the total additional amount the member and employer would have contributed, or the amount by which each of the member's and employer's contributions would have increased, had the member received the increased salary for the office the member holds. If the member elects to have the combined amo...

...n (A) of section 3307.711 or the school employees retirement system under division (A) of section 3309.261 of the Revised Code, the public employees retirement system shall do both of the following: (A) Calculate and certify to the requesting retirement system the cost to a former member to restore service credit under section 145.31 of the Revised Code for each year or portion of a year for which the former member ...

...Eligibility of members of the public employees retirement system, including for members described in section 145.196 of the Revised Code and other than those subject to section 145.332 of the Revised Code, for age and service retirement shall be determined under this section. (A) A member is eligible for age and service retirement under this division if, not later than five years after January 7, 2013, the member ...

... cap, a limit established by the public employees retirement board on the retirement allowance a member may receive. (B) Based on the advice of an actuary appointed by the board, the board shall designate a number as the CBBC factor. The board may revise the factor pursuant to advice from an actuary appointed by the board. (C) Prior to paying a retirement allowance, the public employees retirement system shall ...

...n applies only to members of the public employees retirement system participating in the PERS combined plan, as defined in section 145.196 of the Revised Code, that was consolidated by the system with the PERS defined benefit plan under that section. (B)(1) When a member described in section 145.196 of the Revised Code retires on age and service retirement, the total annual single lifetime allowance for that membe...

...section who is determined by the public employees retirement board under section 145.35 of the Revised Code to qualify for a disability benefit shall receive a disability allowance under this section. The allowance shall be an annual amount equal to the greater of the following: (1) Forty-five per cent of the member's final average salary; (2) The member's total service credit multiplied by two and two-tenths p...

... such benefit is received by the public employees retirement system on or after January 7, 2013, shall, regardless of when the disability occurred, apply for social security disability insurance benefit payments under 42 U.S.C. 423 if the recipient meets the requirements of divisions (a)(1)(A),(B), and (C) of that section. The application for a social security disability insurance benefit shall be made before the lat...

...ce retirement allowance from the public employees retirement system, and hereafter referred to as a retirant, may be employed, notwithstanding sections 145.38 and 145.46 of the Revised Code, if his later employment has been in a position described in any of the following categories: (1) A position authorized by section 101.31, 121.03, or 121.04 of the Revised Code; (2) A position to which appointment is made by the...

...The public employees retirement board may establish and maintain a qualified governmental excess benefit arrangement that meets the requirements of division (m) of section 415 of the "Internal Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C.A. 415, as amended, and any regulations adopted thereunder. If established, the arrangement shall be a separate portion of the public employees retirement system and be maintained...

...ive years of service credit, the public employees retirement board shall include the amount specified in rules adopted by the board in the amount payable under section 145.40 of the Revised Code to the member, or under division (B) of section 145.43 of the Revised Code to a beneficiary or beneficiaries of the member, unless at the time of death the member was a disability benefit recipient. The amount specified...

...ays after December 13, 2000, the public employees retirement board shall credit interest to the individual account of each contributor in accordance with this section, except that interest shall not be credited to the individual account of a PERS or other system retirant, as defined in section 145.38 of the Revised Code, for contributions received during the period described in division (B)(4)(a) or (b) of section 14...

...The public employees retirement board shall estimate annually the amount required to defray the expenses of the administration of the public employees retirement system in the ensuing year. If in the judgment of the board, as evidenced by a resolution of that board in its minutes, the amount in the income fund exceeds the amount necessary to cover the ordinary requirements of that fund, the board may transfer t...

...ritten notice of waiver with the public employees retirement board. Except as provided in division (B) of this section, such waiver shall remain in effect until the first day of the month following his death or the filing of his written cancellation of such waiver with the public employees retirement board. Any amount so waived shall be forever forfeited. (B) If a beneficiary waives in writing all claim to any benef...