Ohio Revised Code Search

... Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C.A. 415, as amended. If the member is not receiving a disability benefit under section 3307.57 of the Revised Code, but is receiving a disability benefit from either the public employees retirement system or the school employees retirement system, then such member shall not be eligible for service credit based upon the number of years and fractions thereof between the ...

...alary; (2) The member's total service credit multiplied by two and two-tenths per cent of the member's final average salary, not exceeding sixty per cent of the member's final average salary. (B) Sufficient reserves for payment of the disability allowance shall be transferred to the annuity and pension reserve fund from the employers' trust fund. The accumulated contributions of the member shall remain in the tea...

...22 37 23 41 24 45 25 48 26 51 27 54 28 57 29 or more 60 (3)(a) If at the time of death the deceased member was receiving a disability benefit under section 3307.63 or 3307.631 of the Revised Code, the benefit elected under division (C)(1) or (2) of this section shall be increased by a percentage equal to the total of any percentage increases the member received under sectio...

... payment to either the person responsible for the burial expenses or to the decedent's estate following the completion of an application on a form approved by the board. A benefit paid under this section shall be treated as life insurance for purposes of this chapter and shall be funded solely from contributions made under section 3307.28 of the Revised Code on behalf of members participating in the STRS defi...

...e first increase under this section becomes the anniversary date for any future increases. The allowance or benefit used in the first calculation of an increase under this section shall remain as the base for all future increases, unless a new base is established. (C) If payment of a portion of a benefit is made to an alternate payee under section 3307.371 of the Revised Code, increases under this section granted w...

...ay of July not otherwise required to be credited to the several funds set forth in section 3307.14 of the Revised Code. The board shall adopt rules to administer this supplemental benefit. The rules shall recognize the effective date of the allowance, pension, or benefit and the years of Ohio service credit for each recipient as an equitable basis for allocating the amount payable to each recipient. If the boa...

...and after June 14, 1951, through August 26, 1970, shall receive an increase in such benefit in the amount of twenty per cent.

...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 section is less than the amount that is payable on August 20, 1976, then the greater benefit shall be con...

...om thirty or more years of Ohio service credit. The benefit increase provided by this section shall take effect on the first day of the first month following August 6, 1997, and shall not be subject to any final average salary limitation.

...nnuity, or for purchase of out-of-state credit on or after June 25, 1945), together with the supplemental allowance payable pursuant to divisions (A) and (B) of this section, shall be increased by twelve per cent. (D) Effective November 1, 1965, the allowances of all persons who retired before June 30, 1955, and who are receiving benefits as of October 31, 1965, except those granted under former section 3307.49 of ...

... shall be increased by the percentages determined by the effective date of the allowance, pension, or benefit, as follows: Effective Date of Benefit Calendar Year Percentage of Increase 1920 through 1955 24.3 1956 22.5 1957 18.4 1958 15.2 1959 14.3 1960 12.5 1961 11.3 1962 10.1 1963 8.7 1964 7.3 1965 5.6 1966 2.6 1967 2.0 January 1, 1968, through...

... all persons who retired and were eligible to receive a pension that was payable prior to July 1, 1968, pursuant to former section 3307.38 or 3307.43 of the Revised Code, or in the event of the death of such persons, the person designated by the deceased to receive payments under former section 3307.50 of the Revised Code, shall receive an additional monthly payment of two dollars for each year between the member's e...

...y 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.

...he retiree's 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 former sections 3307.38, 3307.41, 3307.43, 3307.49, or 3307.50 of the Revised Code, shall receive an additional...

...and after June 14, 1951, through August 26, 1970, shall receive an increase in such benefit of five per cent. (C) The increases provided in divisions (A) and (B) of this section shall be applied to the benefit payable on and after July 1, 1981. (D) The increase in the monthly allowance, pension, or benefit provided in divisions (A) and (B) of this section shall be included in the calculation of additional benefits ...

... benefit to which an individual is entitled and that the individual receives pursuant to former section 3307.38, 3307.41, 3307.43, 3307.49, or 3307.50 of the Revised Code. The annual amount of each benefit that was payable prior to February 1, 1983, shall, after the adjustments required by former section 3307.403 of the Revised Code, be increased by five per cent.

...(A) The annual amount of each benefit that was based on an award made effective before July 1, 1979, shall be increased as follows: Per Cent of Effective Date of Award Increase in Benefit Prior to July 1, 1971 4.15 July 1, 1971, through August 31, 19762.65 September 1, 1976, through June 30, 19791.4 (B) Effective June 1, 1990, in addition to the increase provided under division (A) of this section, the annua...

... of August 6, 1997, the state teachers retirement board shall determine an amount for each eligible recipient equal to the sum of the following amounts: (1) An amount equal to seventy per cent of the original benefit amount for the recipient; (2) An amount equal to the product obtained when seventy per cent of the original benefit amount is multiplied by the cumulative percentage change in the CPI for the recipient...

..., with fifteen or more years of service credit shall receive a total allowance at the rate of not less than twenty dollars annually for each year of such service credit, except that a member retired on commuted superannuation shall have the reserve for any additional pension required to provide such minimum allowance commuted as of the date of retirement in the manner prescribed for the prior service pension in forme...

...f the Revised Code, the state teachers retirement board shall recalculate the annual single lifetime benefit, excluding any increases granted under section 3307.67 of the Revised Code, of the benefit payable to the recipient using division (B) of section 3307.38 of the Revised Code as that section existed immediately prior to the effective date of this section, except that the recalculated annual single lifetime bene...

...6 of the Revised Code, the board shall determine an amount equal to the sum of the following amounts: (a) An amount equal to eighty-five per cent of the original benefit amount, except that if the recipient is not the individual to whom the original benefit amount was granted, the amount shall equal eighty-five per cent of the product obtained when the original benefit amount is multiplied by the percentage of the ...

...t system who elects to purchase service credit described in section 3307.73, 3307.74, 3307.751, 3307.76, 3307.771, or 3307.78 of the Revised Code shall do both of the following: (1) Submit an application to the state teachers retirement board in a manner or form approved by the board; (2)(a) If the purchase will be completed not later than December 31, 2013, for each year, or portion of a year, of credit purchased,...

...y contribution required by section 3307.26 or 3307.28 of the Revised Code.

...f contributions made under section 3307.26 of the Revised Code ; (b) Any interest on the contributions received by the member under division (A) (1), (2), or (3)(a) of section 3307.563 of the Revised Code ; (c) Any interest paid on the amounts described in divisions (C)(1)(a) and (b) of this section added to the payment under division (A)(1) of this section. (2) To the employers trust fund, all of the followin...

...ice credit under section 145.31 or 3309.26 of the Revised Code by making payments pursuant to this section through a payroll deduction plan established under section 3307.701 of the Revised Code. A member seeking to restore this service credit shall notify the state teachers retirement system on a form approved by the state teachers retirement board. After receiving the notice, the state teachers retirement system sh...