Ohio Revised Code Search

...(A) As used in this section, "school board member" means a member of a city, local, exempted village, or joint vocational school district board of education and "governing board member" means a member of an educational service center governing 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) ...

...(1) The Cincinnati city council and the board of trustees of the Cincinnati retirement system take all actions, including the adoption of any ordinance or resolution, necessary to authorize the transfers. (2) The public employees retirement system and Cincinnati retirement system, through their boards of trustees, enter into an agreement governing the transfers that is consistent with the requirements of sections 14...

...shed by the public employees retirement board on that amount from the date of the refund to the date of payment; (ii) The amount of interest, if any, the member received when the refund was made that is attributable to the year of service. (b) An amount, transferred by the Cincinnati retirement system to the public employees retirement system, equal to the sum of the following: (i) Interest on the amount refunded ...

...(A) If the conditions described in division (B) of section 145.2910 of the Revised Code are met and a person who is a member or former member of the public employees retirement system but not a current contributor and who is not receiving a pension or benefit from the public employees retirement system elects to receive credit under the Cincinnati retirement system for service for which the person contributed to the ...

...pted by the public employees retirement board. A member is ineligible to purchase or obtain service credit under this section for service to be used in the calculation of any retirement benefit currently being paid or payable to the member in the future under any other retirement program or for service credit that may be purchased or obtained under section 145.295 of the Revised Code. (E) Interest charged unde...

...(A) The public employees retirement board may adopt rules in accordance with section 145.09 of the Revised Code to establish a program under which service credit earned under section 145.33 of the Revised Code or division (A)(2), (B)(1)(b), or (C)(2) of section 145.332 of the Revised Code is treated as service credit earned under division (A)(1), (B)(1)(a), or (C)(1) of section 145.332 of the Revised Code if the memb...

...shed by the public employees retirement board from the first date the member was out of service to the final date of payment. (2) If the member is employed by more than one public employer, the member is eligible to purchase credit under this section and make payments under division (C)(1) of this section only for the position for which the member received workers' compensation. For each year of credit, the member s...

...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 amount by which the member's and employer's contribution would ...

... status has been conferred for service aboard oceangoing merchant ships in service to the United States during World War II. (b) "State retirement system" means any of the following: the Ohio police and fire pension fund, public employees retirement system, school employees retirement system, state highway patrol retirement system, or the state teachers retirement system. (2) This section applies only to service ...

... 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 considered as the equivalent o...

...e credit in any one payment, subject to board rules. The retirement system shall grant service credit under this section, not to exceed five years, for each period of service in the uniformed services for which contributions have been received. (D) For service purchased under this section, the member and the member's public employer, subject to board rules, shall pay to the retirement system for credit to the membe...

...ined by the public employees retirement board from the first day of the month of withdrawal to and including the month of redeposit. (2) The amount redeposited shall be credited as follows: (a) The amount that equals the amount, if any, included under section 145.401 of the Revised Code in the withdrawal of accumulated contributions under section 145.40 of the Revised Code shall be credited to the employers' accumu...

...oved by the public employees retirement board. After receiving the notice, the public employees retirement system shall request that the former retirement system calculate under section 3307.712 or 3309.262 of the Revised Code the cost to the member to restore service credit for each year or portion of a year of service for which the member seeks to restore the service credit. The amount the former retirement system ...

...After receiving a request from the state teachers retirement system under division (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...

...r seeking to retire shall file with the board an application for retirement. Service retirement shall be effective on the first day of the month immediately following the later of: (1) The last day for which compensation was paid; (2) The attainment of minimum age or service credit eligibility provided under this section; (3) Ninety days prior to receipt by the board of the member's completed application for...

...ection, 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 benefit granted not later than...

...duced by a percentage determined by the board's actuary based on the number of years the commencement of the allowance precedes the member's eligibility for an unreduced allowance. (c) The actuary may use an actuarially based average percentage reduction for purposes of division (A)(2)(b) of this section. (3) For a member eligible to retire under division (A) or (B) of section 145.32 of the Revised Code, the ri...

...(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...

... in which application is filed with the board on or after the member's attainment of age fifty-two. (2) If the member will not attain age fifty-two on or before the date determined under division (G)(1) of this section, the retirement allowance shall commence on the first day of the calendar month following the month in which application is filed with the board on or after the member's attainment of age fifty-six....

...shed 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 make the following ca...

...ided 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 public safety officer and is irrevocable. Service credit earned by a member of the public employees retirement system before the first da...

...ined by the public employees retirement board's actuary based on the number of years the commencement of the allowance precedes the member's eligibility for an unreduced allowance. (c) The actuary may use an actuarially based average percentage reduction for purposes of division (B)(2)(b) of this section. (C) The total annual single lifetime allowance that a member shall receive under this section shall not exc...

...eafter, the public employees retirement board shall make and submit a report for the preceding fiscal year of the disability retirement experience of each employer. The report shall specify the total number of disability applications submitted, the status of each application as of the last day of the fiscal year, total applications granted or denied, and the percentage of disability benefit recipients to the total nu...

...ined by the public employees retirement board under section 145.35 of the Revised Code to qualify for a disability benefit shall be retired on disability under this section. The applicable age is sixty if the member is described in division (A) or (B) of section 145.32 or division (A), (B), or (E)(1), (3), or (4) of section 145.332 of the Revised Code. It is sixty-two if the member is described in division (C)...

...ined 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 per cent of the member...