Section 3309.27 | Payroll deduction plans.
(A) The school employees retirement board may establish by rule payroll deduction plans for payment of the following:
(1) The cost of restoring service credit under section 3309.26 or 3309.261 of the Revised Code or purchasing any service credit members of the school employees retirement system are eligible to purchase under this chapter;
(2) Charges for participation in programs established under section 3309.691 of the Revised Code;
(3) Deposits under section 3309.692 of the Revised Code and any charges for participating in the program established under that section.
(B) In addition to any other matter considered relevant by the board, the rules adopted under this section shall specify all of the following:
(1) The types of service credit that may be paid for through payroll deduction, including the section of the Revised Code that authorizes the purchase of each type of service credit for which payment may be made by payroll deduction;
(2) The procedure for informing the member's employer and the system that the member wishes to use payroll deduction to purchase service credit or pay for participation in programs established under section 3309.691 of the Revised Code;
(3) The procedure to be followed by the system and employers to determine for each request the amount to be deducted, the number of deductions to be made, and the interval at which deductions will be made. The rules may provide for a minimum amount for each deduction or a maximum number of deductions for the purchase of any type of service credit.
(4) The procedure to be followed by employers in transmitting amounts deducted from the compensation of their employees to the system;
(5) The procedure to be followed by the system in crediting service credit to members who choose to purchase it through payroll deduction.
(C) If the board establishes a payroll deduction plan under this section, it shall certify to the member's employer, for each member for whom deductions are to be made, the amount of each deduction and the payrolls from which deductions are to be made. The employer shall make the deductions as certified and transmit the amounts deducted in accordance with the rules established by the board under this section.
(D) Rules adopted under this section shall not affect any right to purchase service credit conferred by any other section of the Revised Code, including the right of a member under any such section to purchase only part of the service credit the member is eligible to purchase.
(E) No payroll deduction made pursuant to this section may exceed the amount of a member's net compensation after all other deductions and withholdings required by law.
Available Versions of this Section
- April 6, 2007 – House Bill 272 - 126th General Assembly [ View April 6, 2007 Version ]