Ohio Revised Code Search

...entation of the service and subject to public employees retirement board rules, a member may purchase service credit for each year or portion of a year of service incurred by reason of having been on active duty as a member of the reserves or the Ohio national guard for which the member is not eligible to purchase credit under division (B)(1) of this section. Any credit purchased under this section shall be co...

...t shall be considered the equivalent of Ohio service credit. On receipt of the application, the retirement system shall request from the public employer that employed the member prior to the military service a certification that the member was employed by the public employer prior to, and returned to employment with the employer within three months of honorable discharge or release from, service in the uniformed serv...

...school employees retirement system, the Ohio police and fire pension fund, or the state highway patrol retirement system, after the withdrawal of accumulated contributions and cancellation of service credit in this system, may restore such service credit by redepositing the amount withdrawn, with interest on such amount compounded annually at a rate to be determined by the public employees retirement board from the f...

...uting service credit in the system, the Ohio police and fire pension fund, school employees retirement system, state teachers retirement system, or state highway patrol retirement system, and is a former member of or no longer contributing to the school employees retirement system or state teachers retirement system may restore service credit under section 3307.71 or 3309.26 of the Revised Code by making payments pur...

...ction 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 seeks to restore service credit under that section. (B) Inform the requesting retirement sy...

...n the "Age Discrimination in Employment Act of 1967," as amended, 81 Stat. 602, 29 U.S.C. 621 to 634, as of the thirtieth day of June of any year, terminate the employment of any member who has attained the age of seventy years. A member may at the time of retirement by written designation duly executed and filed with the public employees retirement board designate a beneficiary to receive any installment which may r...

...therwise provided in this section, the public employees retirement board shall annually increase each allowance, pension, or benefit payable under this chapter. Until the last day of December of the fifth full calendar year after the effective date of this amendment, the increase shall be three per cent. For each succeeding calendar year, the increase shall be as follows: (1) For each allowance, pension, or...

... this section shall be adjusted by the factors of attained age or years of service to provide the greater amount as determined by the following schedule: Attained Birthday or Years of Total Service Credit Percentage of Base Amount 58 25 75 59 26 80 60 27 85 61 88 28 90 62 91 63 94 29 95 64 97 65 3...

...(A) A recipient of a disability allowance under section 145.361 of the Revised Code who is subject to division (C)(3) of that section may make application for age and service retirement under this section. Retirement shall be effective on the first day of the first month following the last day for which the disability allowance is paid. (B) The annual allowance payable under this section shall consist of the sum o...

...duced benefit. The benefit shall be the actuarial equivalent of the allowance calculated under division (F) of this section adjusted for age. (2) A member with at least twenty-five years of total service credit who would be eligible to retire under division (C)(1) of this section had the member attained age fifty-two and who voluntarily resigns or is discharged for any reason except death, dishonesty, cowardice, i...

...ceive. (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 make the following calculations: (1) Determine an amount equal to the value of the member's accumulated con...

... a PERS law enforcement officer or PERS public safety officer by giving notice to the public employees retirement system on a form provided by the public employees retirement board. To be valid, the notice must be received by the retirement system not later than ninety days after the effective date of this section . The election, once made, causes the member to be considered a PERS law enforcement officer or PERS pub...

... this section shall be adjusted by the factors of attained age or years of service to provide the greater amount as determined by the following schedule: Attained Birthday or Years of Total Service Credit Percentage of Base Amount 58 25 75 59 26 80 60 27 85 61 88 28 90 62 91 63 94 29 95 64 97 65 30 or more 100 (b) For a...

...shall be submitted to the governor, the Ohio retirement study council, and the chairpersons of the standing committees and subcommittees of the senate and house of representatives with primary responsibility for retirement legislation.

...to the projected number of years and fractions thereof between the effective date of the member's disability retirement and attainment of the applicable age, assuming continuous service, by two and two-tenths per cent of the member's final average salary. Where the recipient is not receiving a disability benefit under section 145.37 of the Revised Code and is receiving a disability benefit from either the stat...

...r this 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-t...

...erage salary, adjusted each year by the actual average increase in the consumer price index prepared by the United States bureau of labor statistics (U.S. city average for urban wage earners and clerical workers: "all items 1982-1984=100"); (2) Is reasonably to be found in the member's regional job market; (3) Is one that the member is qualified for by experience or education. If the board concurs in the report th...

... or other evidence of application satisfactory to the board and the system shall accept the copy or other evidence as evidence of the member's application. If a recipient fails without just cause to apply for social security disability insurance benefit payments or to file a copy or other evidence of the application with the system, the disability benefit under this chapter shall be suspended until application is mad...

...i) of this section at the lesser of the actuarial assumption rate for that year of the paying system or the transferring system or systems. (b) If applicable, the public employees retirement system shall pay to the paying system a portion of the amount paid on behalf of the member by an employer under section 145.483 of the Revised Code. The portion shall be paid from the employers' accumulation fund and shall equal...

... system retirant, or enters into a contract for services as an independent contractor with a PERS retirant, shall notify the retirement board of the employment or contract not later than the end of the month in which the employment or contract commences. Any overpayment of benefits to a PERS retirant by the retirement system resulting from delay or failure of the employer to give the notice shall be repaid to the ret...

...or most recently has been employed by a public employer in a position that is customarily filled by a vote of members of a board or commission or by the legislative authority of a county, municipal corporation, or township. (B) A board, commission, or legislative authority that proposes to continue the employment as a reemployed retirant or rehire as a reemployed retirant to the same position an individual described...

...d service 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...

...s a position for which a member of the public employees retirement system is making contributions to the system. (3) "Other state retirement system" means the state teachers retirement system or the school employees retirement system. (4) "State retirement system" means the public employees retirement system, state teachers retirement system, or the school employees retirement system. (B)(1) A member of the p...

...ceive a monthly annuity under which the actuarial equivalent of the retirant's single life annuity is paid in a lesser amount for life and one-half of the lesser amount continues after the retirant's death to the surviving spouse. (b) A PERS retirant or other system retirant who is not subject to division (B)(2)(a) of this section shall elect either to receive the benefit as a monthly annuity or a lump sum payment d...

...llowance resume by giving notice to the public employees retirement system. The notice must be given not later than ninety days after October 1, 2002. (B) The retirement allowance shall resume on the first day of the month following receipt of notice by the retirement system. (C) The annuity portion of the retirement allowance that has accumulated to the retirant's credit shall be paid as a single payment on the f...