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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 145.14 | Percentage of funds available for annuities and other payments - deposit.

Ohio Revised Code
/
Title 1 State Government
/
Chapter 145 Public Employees Retirement System
 
Effective:
September 21, 2000
Latest Legislation:
House Bill 628 - 123rd General Assembly
PDF:
Download Authenticated PDF
 

For the purpose of meeting disbursements for annuities and other payments in excess of the receipts, there shall be kept available by the treasurer of state an amount not exceeding ten per cent of the total amount in the funds provided for by this chapter on deposit in any bank or banks in this state, organized under the laws thereof, or under the laws of the United States, or with any trust company or trust companies incorporated by the law of this state. Said banks or trust companies shall furnish adequate security for said deposit. The sum so deposited in any one bank or trust company shall not exceed twenty-five per cent of the paid-up capital and surplus of said bank or trust company.

Available Versions of this Section