Ohio Revised Code Search

...mber's contributions under section 3307.26, any contributions restored under sections 3307.71 and 3307.712 of the Revised Code to the extent that the amount paid to restore the credit included amounts received by the member under division (A)(3)(b) of this section, and contributions deducted or paid under section 3307.77 of the Revised Code plus interest on that amount at a rate not greater than six per cent establis...

...er sections 145.311, 3307.711, and 3309.261 of the Revised Code, shall be used in determining benefits. If total contributions and service credit are combined, the following provisions apply: (1) Service retirement or a disability benefit is effective on the first day of the month next following the later of: (a) The last day for which compensation was paid; (b) The attainment of minimum age or service credit for ...

...ent shown in the following schedule opposite the member's attained age or Ohio service credit. Attained Age or Years of Ohio Service Credit Per Cent of Base Amount 58 25 75% 59 26 80 60 27 85 61 88 28 90 62 91 63 94 29 95 64 97 65 30 or more 100 (2) The annual single lifetime benefit of a member described in division (B...

...tiplying the applicant's total service credit, including service credit for the last continuous period during which the applicant received a disability benefit under section 3307.631 of the Revised Code, by two and two-tenths per cent of the applicant's final average salary, except that the allowance shall be determined without application of division (B) of section 3307.501 of the Revised Code and shall not e...

...he retirant may elect a plan of payment under this division or, on and after the date specified in division (B) of this section, a plan of payment under that division. Under this division, the retirant may elect to receive a single lifetime benefit, or may elect to receive the actuarial equivalent of the retirant's benefit in a lesser amount, payable for life, and continuing after death to a beneficiary under one of ...

...dit on account on June 30, 2013, has at least five years of qualifying service credit; (2) If the member did not have any service credit on account on June 30, 2013, has at least ten years of qualifying service credit. Not later than October 16, 1992, the state teachers retirement board shall give each person who is a member on July 29, 1992, the opportunity to elect disability coverage either under former section ...

... 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...

... Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C.A. 415, as amended, and regulations adopted pursuant thereto but before August 1, 2013. The limit may be adjusted in accordance with rules adopted by the board. (B) The first increase is payable to all persons becoming eligible as follows: (1) For an allowance or benefit beginning on or after July 1, 1971, but before August 1, 2013, upon such persons receiving an all...

...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 ...

... 1967 2.0 January 1, 1968, through June 30, 1968 2.0 All increases determined by applying the percentages in the preceding table shall be reduced by the dollar amount of the increases granted in 1965 pursuant to divisions (D), (E), and (F) of former section 3307.401 of the Revised Code, except that no allowance, pension, or benefit shall be reduced below the amount due on June 30, 1968, and no all...

...ted 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 effective date of retirement or disability and December 31, 1971, or an additional fifty dollars, whichever is less.

...49 of the Revised Code who became eligible to receive such benefits under former section 3307.48 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.

...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 ...

....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...

... benefit, pension, or allowance payable under former section 3307.38, 3307.41, 3307.43, 3307.431, 3307.49, or 3307.50 of the Revised Code. (2) "Cumulative percentage change in the CPI" means the total percentage change in the consumer price index prepared by the United States bureau of labor statistics for urban wage earners and clerical workers (CPI-W: U.S. city average, all items) from the thirty-first day of Dece...

..., 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...