Ohio Revised Code Search

...e state teachers retirement system, the Ohio police and fire pension fund, the state highway patrol retirement system, or the public employees retirement system if served in a comparable public position in this state. (C) 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 3309.74 of the R...

...s section; (2) Provides evidence satisfactory to the retirement board of service as a school board or governing board member during the years for which the member wishes to purchase credit. (B) Credit may be purchased under division (A) of this section for service as a school board or governing board member between September 1, 1937, and June 30, 1991. A member is eligible to purchase one-quarter of a year's credit...

...tirement system a copy of the member's records of service and contributions. For each year or portion of a year of credit, the school employees retirement system shall transfer to the public employees retirement system all of the following: (1) An amount equal to the accumulated contributions standing to the member's credit; (2) An amount equal to the total employer contributions paid on behalf of the member;...

...Any employee who becomes a member and establishes one year of contributing service credit shall be granted prior service credit unless the employee is otherwise required to establish additional contributing service credit under the provisions of this chapter. Provided, however, that any employee who became a contributing member prior to September 1, 1938, shall be granted prior service credit as of the date of esta...

... of service credit as determined by an actuary employed by the board. Payments shall be made in accordance with rules adopted by the board, and the board shall notify each member when the member is credited with service purchased under this section. No payment made to the school employees retirement system under this section shall affect any payment required by section 3309.49 of the Revised Code.

...A)(2)(a) of this section if the board's actuary, in its evaluation under division (C) of this section, determines that an adjustment is necessary to ensure that the retirement system meets the thirty-year amortization period requirement of section 3309.211 of the Revised Code. (B) A member may retire by filing an application for retirement with the school employees retirement board on a form provided by the bo...

...the public employees retirement system, Ohio police and fire pension fund, state teachers retirement system, state highway patrol retirement system, or Cincinnati retirement system who is receiving age and service or commuted age and service retirement, or a disability benefit from a system of which the retirant is a member or former member. (B)(1) Subject to this section and section 3309.345 of the Revised Co...

...ther state retirement system" means the public employees retirement system or the state teachers retirement system. (5) "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 school employees retirement system who holds two or more SERS positions may retire under section 3309.35, 3309.36, or 33...

...For purposes of this section, "SERS retirant" includes a member who retired under section 3309.343 of the Revised Code. (A) Except as provided in division (B)(3) of this section, an SERS retirant or other system retirant who has made contributions under section 3309.341 or 3309.343 of the Revised Code may file an application with the school employees retirement system for a benefit consisting of a single life annuit...

...a reemployed retirant is to begin, give public notice that the person is or will be retired and is seeking employment with the employer; (2) Between fifteen and thirty days before the employment as a reemployed retirant is to begin, hold a public meeting on the issue of the person being employed by the employer. The notice regarding division (B)(1) of this section shall include the time, date, and location at whi...

...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) The annuity rates and mortality tables of the paying system shall be exclusively applicable. (c) Deposits made for the purchase of an additional annuity, and including guaranteed interest, upon the request of the member, shall be transferred to the paying system. The return...

...As used in this section, "benefit" means any allowance, pension, or other benefit to which an individual is entitled and that the individual receives pursuant to section 3309.36, 3309.40, 3309.45, or 3309.46 or former section 3309.38 of the Revised Code. The annual amount of each benefit for which eligibility was established prior to February 1, 1983, shall, after the adjustment required by section 3309.374 o...

...As used in this section, "benefit" means any allowance, pension, or other benefit to which an individual is entitled and that he receives pursuant to section 3309.35, 3309.36, 3309.40, 3309.45, or 3309.46 or former section 3309.38 of the Revised Code. Effective the first day of the month following September 9, 1988, the annual amount of benefits shall be increased as follows: (A) The annual amount of each ben...

...e the member's attained age or years of Ohio service credit: Attained or Years of Ohio Service Credit Per Cent of Base Amount Age 58 25 75% 59 26 80 60 27 85 61 88 28 90 62 91 63 94 &...

...n annual single lifetime benefit or its actuarial equivalent of not less than eighty-six dollars for each year of the member's total service credit, multiplied by the total number of years of service credit, except that service credit exceeding thirty-two years shall not be used in the recalculation, and a final average salary limitation shall not be applied. If the amount of the benefit recalculated under this sect...

...As used in this section, "benefit" means any allowance, pension, or other benefit to which an individual is entitled and that the individual receives under section 3309.35, 3309.36, 3309.40, 3309.45, or 3309.46 or former section 3309.38 of the Revised Code. Effective July 1, 1981: (A) The annual amount of each benefit for which eligibility was established prior to January 1, 1977, shall, after the adjustment...

...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, from time to time, revise the factor pursuant to advice from an actuary appointed by the board. (C) Beginning on and after August 1, 2024, before paying a retirement allowance, the board shall make all of the following calculations: (1) Determine an amount equal to the va...

...rcentage of any increase if the board's actuary, in its annual actuarial valuation required by section 3309.21 of the Revised Code, or in other evaluations conducted under that section, determines that an adjustment does not materially impair the fiscal integrity of the retirement system or is necessary to preserve the fiscal integrity of the retirement system. (H) The retirement board shall make all rules necessary...

... intent of this section, and shall contract for such coverage as provided in section 3309.69 of the Revised Code. Notwithstanding sections 3309.49 and 3309.51 of the Revised Code, the employer's contribution rate shall not be increased until July 1, 1969, or later to reflect the increased costs created by this section. (B) The board need not make the hospital insurance coverage described in division (A) of this s...

...On and after December 31, 1971, all persons who retired and were eligible to receive a pension that was payable prior to July 1, 1968, pursuant to section 3309.36 or 3309.40 or former section 3309.38 of the Revised Code, or in the event of the death of such persons, the person designated by the deceased to receive payments under section 3309.46 of the Revised Code, shall receive an additional monthly payment of...

...Each person receiving benefits under section 3309.45 of the Revised Code who became eligible to receive such benefits under section 3309.44 of the Revised Code by virtue of the death of a member prior to July 1, 1968, shall receive an additional monthly payment of two dollars for each year between the date of such member's death and December 31, 1972, or an additional fifty dollars, whichever is less.

...On and after the effective date of this section, any person who retired or his beneficiary , who was eligible to receive an allowance that was first payable on or after July 1, 1968 and prior to July 1, 1971, and the beneficiary of a member who died before service retirement on or after July 1, 1968 and prior to July 1, 1971, receiving an allowance or benefit pursuant to sections 3309.35, 3309.36, 3309.38, 3309.40, 3...

...e allowance, pension, or benefit or its actuarial equivalent of not less than one hundred forty dollars for each year of the member's total service credit, except that service credit exceeding thirty-two years shall not be used in the recalculation, and a final average salary limitation shall not be applied. If the amount of the allowance, pension, or benefit recalculated under this division is less than the amount...

...(A) Effective July 1, 1981, each person eligible to receive an allowance, pension, or benefit pursuant to sections 3309.35, 3309.36, 3309.40, division (A) of section 3309.45, and section 3309.46 and former section 3309.38 of the Revised Code that was based upon an award made effective before July 1, 1974, shall have the person's monthly allowance, pension, or benefit increased by five per cent, except that the ...

...Whenever the limits established by section 415 of the "Internal Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C.A. 415, as amended, are raised, the school employees retirement board shall increase the amount of the pension, benefit, or allowance of any person whose pension, benefit, or allowance payable under section 3309.36, 3309.374, 3309.381, 3309.40, or 3309.401 or former section 3309.38 of the Revised Code...