Ohio Revised Code Search

...hall 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 retirement system by the employer. (3) On receipt of notice from a public employer that a person who is an ot...

...authority that proposes to continue the employment as a reemployed retirant or rehire as a reemployed retirant to the same position an individual described in division (A) of this section shall do both of the following in accordance with rules adopted under division (C) of this section: (1) Not less than sixty days before the employment as a reemployed retirant is to begin, give public notice that the person is or w...

...45.46 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 by the governor with the advice and consent of the senate; (3) The head of a division of a state department. A retirant employed in such a category is entitled to a ret...

...n 145.384 of the Revised Code based on employment subject to this section is not a member of the public employees retirement system and does not have any rights, privileges, or obligations of membership. The retired member is a PERS retirant for purposes of section 145.38 of the Revised Code. (E) The public employees retirement board may adopt rules to carry out this section.

...mulated contributions for the period of employment, other than the contributions excluded pursuant to division (B)(4)(a) or (b) of section 145.38 of the Revised Code, and an amount of the employer's contributions determined by the board. (a) Unless, as described in division (I) of this section, the application is accompanied by a statement of the spouse's consent to another form of payment or the board waives the re...

...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...

...S.C.A. 415, as amended, are raised, the public employees retirement board shall increase the amount of the pension, benefit, or allowance of any person whose pension, benefit, or allowance payable under section 145.323, 145.33, 145.331, 145.332, 145.335, 145.36, or 145.361 or former section 145.34 of the Revised Code was limited by the application of section 415. The amount of the increased pension, benefit, or allow...

...requirements of division (m) of section 415 of the "Internal Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C.A. 415, as amended, and any regulations adopted thereunder. If established, the arrangement shall be a separate portion of the public employees retirement system and be maintained solely for the purpose of providing to retired members that part of a benefit otherwise payable under this chapter that exceeds the...

...ipt of a disability benefit, or current employment in a position in which the member has elected to participate in an alternative retirement plan under section 3305.05 or 3305.051 of the Revised Code, upon application the public employees retirement board shall pay the member the member's accumulated contributions, plus any applicable amount calculated under section 145.401 of the Revised Code, provided that both the...

...east five years of service credit, the public employees retirement board shall include the amount specified in rules adopted by the board in the amount payable under section 145.40 of the Revised Code to the member, or under division (B) of section 145.43 of the Revised Code to a beneficiary or beneficiaries of the member, unless at the time of death the member was a disability benefit recipient. The amount sp...

...e of the other retirement systems whose employment under that system is with the public employer that was the employer under the public employees retirement system at the time the member's service subject to this chapter terminated.

...irement or who otherwise ceases to be a public employee for any reason other than death or retirement may leave the member's accumulated contributions on deposit with the public employees retirement board and, for the purposes of the public employees retirement system, be considered on a membership leave of absence. The member's membership rights shall continue until the member has withdrawn the member's accumulated ...

...mp sum. Subject to rules adopted by the public employees retirement board, a member who designates two or more persons as beneficiaries shall specify the percentage of the lump sum that each beneficiary is to be paid. If the member has not specified the percentages, the lump sum shall be divided equally among the beneficiaries. The last designation of any beneficiary revokes all previous designations. The member's m...

...duly executed on a form provided by the public employees retirement board and signed by the member. A designation under this section is not valid unless received by the board prior to the member's death. A beneficiary designation made under this section applies to the PERS defined benefit plan or PERS defined contribution plan in which the member participated or, if the member participated in both the defined benefi...

...tirement allowance as determined by the public employees retirement system. (B) If a deceased member had, except as provided in division (B)(7) of this section, at least one and one-half years of contributing service credit, with, except as provided in division (B)(7) of this section, at least one-quarter year of contributing service credit within the two and one-half years prior to the date of death, or was recei...

...nt's children, share and share alike; (4) The retirant's or disability benefit recipient's parents, share and share alike; (5) The person responsible for burial expenses; (6) The retirant's or disability benefit recipient's estate. (B) The amount of the death benefit shall be as follows: (1) If the retirant or disability benefit recipient had at least five years' but less than ten years' total service credit, fi...

...The surviving spouse of a member who dies on or after the effective date of this amendment may continue any service credit purchase the member initiated before death. A purchase shall be considered to have been initiated before the member's death if the member made one or more payments for the purchase before death. Any service credit purchased under this section shall be applied under the provisions of this...

...etirement and on a form provided by the public employees retirement board. A plan of payment elected under this section shall be effective only if approved by the board, which shall approve it only if it is certified by an actuary engaged by the board to be the actuarial equivalent of the retirement allowance calculated under section 145.33, 145.331, 145.332, or 145.335 of the Revised Code. (B) The following plans...

...is division in accordance with section 145.29 of the Revised Code.

...system retirant, as defined in section 145.38 of the Revised Code, for contributions received during the period described in division (B)(4)(a) or (b) of section 145.38 of the Revised Code. For amounts deposited by a contributor under section 145.62 or the version of division (C) of section 145.23 of the Revised Code as it existed immediately prior to the effective date of this amendment, interest or earnings shall b...

...system retirant, as defined in section 145.38 of the Revised Code, for contributions received during the period described in division (B)(4)(a) or (b) of section 145.38 of the Revised Code. For amounts deposited by a contributor under section 145.62 or the version of division (C) of section 145.23 of the Revised Code as it existed immediately prior to the effective date of this amendment, interest or earnings shall b...

... 2000; (5) An amount determined by the public employees retirement board that is not greater than six per cent per annum, compounded annually, on and after December 13, 2000. (B) For the purpose of determining the reserve value of a contributor's annuity, the rate of interest shall be as follows: (1) Four per cent per annum, compounded annually, for contributors retiring before October 1, 1956; (2) Three per ...

... pay benefits authorized under section 145.58 of the Revised Code. (2) If recognized assets exceed the liabilities for service previously rendered, on approval of the board, a percentage of earnable salary may be deducted from the employer rates of contribution that, if deducted annually over a period of future years, will eliminate the excess.

...of the Revised Code during a period of employment for which such contributions were required, a statement of delinquent contributions shall be prepared showing the amount the contributor and employer would have contributed had regular payroll deductions been taken. Simple interest from the end of each calendar year at a rate equal to the assumed actuarial rate of interest at the time the statement is prepared ...

... 145.47 of the Revised Code: (1) The public employees retirement system shall be authorized to calculate the employee contribution rates separately for those public employees contributing toward benefits as PERS public safety officers under section 145.332 of the Revised Code. (2) Each public employee contributing toward benefits as PERS law enforcement officers under section 145.332 of the Revised Code shal...