Ohio Revised Code Search

...ributions standing to the individual's credit in the employees' savings fund or defined contribution fund established under section 145.23 of the Revised Code. (4) The individual is employed in a position covered under this chapter to which section 145.193 of the Revised Code applies. (5) The individual is a PERS law enforcement officer or PERS public safety officer.

... credit is eligible to make an election under this section. A member or contributor who is employed in more than one position subject to this chapter is eligible to make only one election. The election applies to all positions subject to this chapter. Not later than June 30, 2003, an eligible member or contributor may elect to participate in a PERS defined contribution plan. Unless a form evidencing an election is r...

...ed from claiming or purchasing service credit with the system or any other Ohio state retirement system, as defined in section 145.30 of the Revised Code, for service covered by the election.

...ction made or deemed to have been made under section 145.19 or 145.191 of the Revised Code applies to all positions subject to this chapter for which the member is contributing under section 145.47 or 145.85 of the Revised Code. A member who terminates employment in all positions subject to this chapter, receives a refund of the member's contributions made under section 145.47 or 145.85 of the Revised Code, ...

...y elect to have those contributions deposited and credited in the PERS defined benefit plan in accordance with section 145.814 of the Revised Code and rules governing the PERS defined benefit plan.

...may, in accordance with rules it adopts under this section, permit a member who participated in both the PERS defined benefit plan and one or more PERS defined contribution plans to combine years of service as a member for the purpose of determining eligibility for a benefit under section 145.32, 145.331, 145.332, or 145.335 of the Revised Code, or a benefit under a PERS defined contribution plan.

...nent that includes definitely determinable benefits as described in section 145.82 of the Revised Code. (B) The public employees retirement system may, in accordance with rules it adopts under this section, consolidate the PERS combined plan with the PERS defined benefit plan for the purpose of administering the definitely determinable benefits under the PERS combined plan and the allowance payable under section 1...

...ntributions Act," 68A Stat. 415 (1954), 26 U.S.C.A. 3101, as amended, may be secured by the elective official provided the elective official does all of the following: (1) Pays into the employees' savings fund an amount specified by the board that is equal to one hundred per cent of the additional liability resulting from the purchase of that year or portion of a year of credit as determined by an actuary emplo...

...ntributions Act," 68A Stat. 415 (1954), 26 U.S.C.A. 3101, as amended. For each year of additional service credit purchased under this section, the member shall pay into the employees' savings fund an amount specified by the public employees retirement board that is equal to one hundred per cent of the additional liability resulting from the purchase of that year or portion of a year of credit as determined by an a...

...rest accumulations thereon. It shall collect and keep in convenient form such data as is necessary for the preparation of the required mortality and service tables, and for an actuarial valuation of the assets and liabilities of the various funds created by this chapter. Upon the basis of the mortality and service experience of the members, contributors, retirants, and beneficiaries of the public employees retiremen...

... to this chapter. The actuary shall complete the valuation in accordance with actuarial standards of practice promulgated by the actuarial standards board of the American academy of actuaries and prepare a report of the valuation. The report shall include all of the following: (1) A summary of the benefit provisions evaluated; (2) A summary of the census data and financial information used in the valuation; ...

...h primary responsibility for retirement legislation a report that includes the following information: (A) The number of years needed to amortize the unfunded actuarial accrued pension liability as determined by the annual actuarial valuation; (B) A plan approved by the board that indicates how the board will reduce the amortization period of unfunded actuarial accrued pension liability to not more than thirty years...

...he case of an electing employee, the amount that would be the electing employee's earnable salary if the electing employee was a member of the retirement system. (2) "Compensation ratio" means the ratio for the most recent full fiscal year for which the information is available of the total compensation of all electing employees to the sum of the total compensation of all the retirement system's members in the PERS...

...on 145.48 of the Revised Code shall be credited to the employers' accumulation fund. Amounts paid by an employer under section 145.483 of the Revised Code shall be credited to the employers' accumulation fund, except that if the amounts paid by the employer are for members participating in a PERS defined contribution plan those amounts may be credited to the defined contribution fund. Amounts paid by an employ...

...ntributing, the public employees retirement board shall hold all contributions from such employer in a separate fund as long as the inequality of contributions continues. During that period no funds contributed by any other employers shall be used to pay benefits to persons who were employees of such employer at the time of retirement.

...reference is made to each as a separate legal entity. This section does not prevent the deposit or investment of all such moneys intermingled for such purpose but such funds shall be separate and distinct legal entities for all other purposes.

...he treasurer of state and placed to the credit of the board. The treasurer of state shall furnish annually to the board a sworn statement of the amount of the funds in the treasurer of state's custody belonging to the system.

...d with a statement of the amount to the credit of the individual's account upon written request. The board is not required to answer more than one such request of a person in any one year. The board may issue annual statements of accounts to members and contributors. (D) Notwithstanding the exceptions to public inspection in division (A)(2) of this section, the board may furnish the following information: (1)...

...ntributions Act," 68A Stat. 415 (1954), 26 U.S.C.A. 3101, as amended. (C) Credit shall be purchased under this section in accordance with section 145.29 of the Revised Code. (D) Credit purchasable under this section shall not exceed one year of service for any twelve-month period. If the period of service for which credit is purchasable under this section is concurrent with a period of service that will be used to ...

...hase or otherwise obtain service credit under section 145.28, 145.291, 145.292, 145.293, or 145.299 or division (G) of section 145.47 of the Revised Code shall do both of the following: (1) Submit a request to the public employees retirement board in a manner or form approved by the board; (2) For each year, or portion of a year, of credit purchased or otherwise obtained, pay to the employees' savings fund an amoun...

...of a child. Credit shall be purchased under this section in accordance with section 145.29 of the Revised Code, except that service credit purchased under this section shall not exceed one year.

...rt-time employee who claimed exemption under the provisions of section 145.03 of the Revised Code, may be purchased by any public employee for service rendered an employer. Credit shall be purchased under this section in accordance with section 145.29 of the Revised Code.

...vernment, that, if served in a comparable position in Ohio, would be covered by the public employees retirement system, Ohio police and fire pension fund, state teachers retirement system, school employees retirement system, or state highway patrol retirement system; (2) 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...

...f the cost of restoring service credit under section 145.31 or 145.311 of the Revised Code or purchasing any service credit members of the public employees retirement system are eligible to purchase under this chapter, or for making additional deposits under section 145.583 or 145.62 of the Revised Code. In addition to any other matter considered relevant by the board, the rules shall specify all of the follow...

...this division. (2) The member is eligible, or with the credit will be eligible, for a retirement or disability benefit. (3) The member agrees to retire or accept a disability benefit not later than ninety days after receiving notice from the public employees retirement system that the credit has been obtained. (4) For each year of service the uniform system transfers to the public employees retirement system the s...