Ohio Revised Code Search

...of the additional liability resulting from the purchase of that year, or portion of a year, of service. (2) Any amounts paid under this section shall be credited to the employees' savings fund. (3) The amounts paid by the member under this section are subject to the limits established by division (n) of section 415 of the "Internal Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C. 415(n), as amended. (C) A member m...

...five years; (2) A period that is three times the period during which the member was out of service and receiving workers' compensation. The period described in division (E)(1) or (2) of this section begins with the later of the member's date of re-employment or January 7, 2013. (F) The number of years purchased under this section shall not exceed three. Credit purchased under this section may be combined pursuant ...

...blic 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 have increased...

...io national guard and the reserve components of any of the armed forces enumerated in division (A)(1) of this section who are called to active duty pursuant to an executive order issued by the president of the United States or an act of congress; (iii) Persons on whom United States merchant marine veteran status has been conferred for service aboard oceangoing merchant ships in service to the United States during W...

...em. The credit may be purchased at any time prior to receipt of a retirement allowance. The number of years purchased shall not exceed five. The member may choose to purchase only part of such credit in any one payment, subject to public employees retirement board rules. (C) A member may purchase service credit that shall be considered as the equivalent of Ohio service for each year of service such member was...

... training, inactive duty training, full-time national guard duty, and a period for which a person is absent from a position of employment for the purpose of an examination to determine the fitness of the person to perform any such duty. (2) "Uniformed services" means the army, navy, air force, marine corps, coast guard, or any reserve components of such services; national guard; the commissioned corps of the United...

...ithdrawn, with interest on such amount compounded annually at a rate to be determined 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 un...

...redit. On receiving the certification from the former retirement system, the public employees retirement system shall notify the member of the cost. (B) For each year or portion of a year of service credit restored under section 3307.71 or 3309.26 of the Revised Code, a member shall pay to the public employees retirement system the amount certified by the former retirement system plus interest at a rate specified by...

... 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 the Revised Code...

...e 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 remain unpaid at the time of death. Except as provided in section 145.46 of the Revised Code, after the date of retirement such nomination shall not be changed if the member elects to receive the member's retir...

...t increase is payable to all persons becoming eligible after June 30, 1971, upon such persons receiving an allowance for twelve months. The increased amount is payable for the ensuing twelve-month period or until the next increase is granted under this section, whichever is later. Subsequent increases shall be determined from the date of the first increase paid to the former member in the case of an allowance being p...

...tuary 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 right to a benefit shall vest in accordance with the...

...(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...

...n shall consist of an annual single lifetime allowance equal to the sum of two and one-half per cent of the member's final average salary multiplied by the first twenty-five years of the member's total service credit plus two and one-tenth per cent of the member's final average salary multiplied by the number of years of the member's total service credit in excess of twenty-five years. (G) A member with at least f...

..., adjusted for age of the member at the time of retirement or, when appropriate, the age at the time of the member's death; (3) Multiply the annuity amount determined under division (C)(2) of this section by the CBBC factor. (D) The amount determined under division (C)(3) of this section is the member's CBBC. Except as provided in division (E) of this section, if the retirement allowance the member would receiv...

... the definition of bureau of criminal identification and investigation investigator, gaming agent, department of taxation investigator, special police officer for a port authority, or special police officer for a municipal airport in section 145.01 of the Revised Code may make the election to be considered a PERS law enforcement officer or PERS public safety officer by giving notice to the public employees retirement...

...retirement, the total annual single lifetime allowance for that member shall be an amount adjusted in accordance with division (B)(2) or (C) of this section and determined by multiplying the member's total service credit by the following: (a) If the member is eligible for age and service retirement under division (A) or (B) of section 145.32 of the Revised Code, one per cent of the member's final average salary fo...

...ds demonstrate conclusively that at the time the two-year period expired, the member was physically or mentally incapacitated for duty and unable to make an application. Application may not be made by or for any person receiving age and service retirement benefits under section 145.33, 145.331, 145.332, 145.335, or 145.37 or former section 145.34 of the Revised Code or any person who, pursuant to section 145.40 of th...

..., and the chairpersons of the standing committees and subcommittees of the senate and house of representatives with primary responsibility for retirement legislation.

... retirement is a complete year of full-time employment, or the equivalent thereof. The public employees retirement board is the final authority in determining the eligibility of a member for disability retirement.

... the annuity and pension reserve fund from the employers' contribution fund. The accumulated contributions of the member shall remain in the employees' savings fund. No part of the allowance paid under this section shall be charged against the member's accumulated contributions. (C) A disability allowance paid under this section shall terminate at the earliest of the following: (1) The effective date of age and...

...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 that the disability benefit recipient meet...

...the percentage increase in the consumer price index, not exceeding three per cent, as determined by the United States bureau of labor statistics (U.S. city average for urban wage earners and clerical workers: "all items 1982-84=100") for the twelve-month period ending on the thirtieth day of June of the immediately preceding calendar year. If the consumer price index for that period did not increase, no increase shal...

...blic employees retirement system at the time the credit was earned less the retention percentage; (iii) Interest compounded annually on the amounts specified in divisions (B)(6)(a)(i) and (ii) 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...

... which the retirant was employed at the time of retirement or, less than two months after the retirement allowance commences, begins providing services as an independent contractor pursuant to a contract with another public employer, shall forfeit the pension portion of the retirement benefit for the period beginning the first day of the month following the month in which the services begin and ending on the first da...