reglab/statecodes huggingface dataset:
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.041 | Orientation Program Required for Members - Continuing Education.

Effective:
January 7, 2013
Latest Legislation:
Senate Bill 343 - 129th General Assembly
Each member of the public employees retirement board shall, not later than ninety days after commencing service as a board member, complete the orientation program component of the retirement board member education program established under section 171.50 of the Revised Code.
Each member of the board who has served a year or longer as a board member shall, not less than twice each year, attend one or more programs that are part of the continuing education component of the retirement board member education program established under section 171.50 of the Revised Code.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.042 | Members With Excessive Travel Expenses Ineligible for Another Term.

Effective:
September 15, 2004
Latest Legislation:
Senate Bill 133 - 125th General Assembly
A person who served as an elected or appointed member of the public employees retirement board for one or more entire fiscal years in fiscal years 2000, 2001, or 2002 is ineligible for re-election or reappointment to the board if the board paid travel-related expenses of the person or reimbursed the person for travel-related expenses that averaged more than ten thousand dollars annually for those fiscal years.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.051 | Special Election Where Person Elected Unable to Serve.

Effective:
September 15, 2004
Latest Legislation:
Senate Bill 133 - 125th General Assembly
If a person elected to serve on the public employees retirement board is unable to assume office at the January meeting of the board following the person's election, a special election shall be held in accordance with the provisions of section 145.05 of the Revised Code within three months of the January meeting. On certification of the elections results, the newly elected person shall assume office at the meeting of the board immediately following the special election.
Last updated February 1, 2022 at 5:05 PM
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.052 | Board Member Election Unnecessary if Only One Candidate Nominated.

Effective:
September 15, 2004
Latest Legislation:
Senate Bill 133 - 125th General Assembly
Notwithstanding sections 145.04 and 145.05 of the Revised Code, the public employees retirement board is not required to hold an election, including a special election under section 145.051 of the Revised Code, for a position on the board as an employee member or retirant member if only one candidate has been nominated for the position by petition in accordance with section 145.05 of the Revised Code. The candidate shall take office as if elected. The term of office shall be four years beginning on the first day of January following the date the candidate was nominated.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.054 | Filing of Statements - Prohibited Campaign Activities.

Effective:
September 15, 2004
Latest Legislation:
Senate Bill 133 - 125th General Assembly
(A) No person shall knowingly fail to file a complete and accurate campaign finance statement or independent expenditure statement in accordance with section 145.053 of the Revised Code.
(B) No person, during the course of a person seeking nomination for, or during any campaign for, election to the public employees retirement board, shall knowingly and with intent to affect the nomination or the outcome of the campaign do any of the following by means of campaign materials, an advertisement on radio or television or in a newspaper or periodical, a public speech, press release, or otherwise:
(1) With regard to a candidate, identify the candidate in a manner that implies that the candidate is a member of the board or use the term "re-elect" when the candidate is not currently a member of the board;
(2) Make a false statement concerning the formal schooling or training completed or attempted by a candidate; a degree, diploma, certificate, scholarship, grant, award, prize, or honor received, earned, or held by a candidate; or the period of time during which a candidate attended any school, college, community technical school, or institution;
(3) Make a false statement concerning the professional, occupational, or vocational licenses held by a candidate, or concerning any position the candidate held for which the candidate received a salary or wages;
(4) Make a false statement that a candidate or board member has been indicted or convicted of a theft offense, extortion, or other crime involving financial corruption or moral turpitude;
(5) Make a statement that a candidate has been indicted for any crime or has been the subject of a finding by the Ohio elections commission without disclosing the outcome of any legal proceedings resulting from the indictment or finding;
(6) Make a false statement that a candidate or board member has a record of treatment or confinement for mental disorder;
(7) Make a false statement that a candidate or board member has been subjected to military discipline for criminal misconduct or dishonorably discharged from the armed services;
(8) Falsely identify the source of a statement, issue statements under the name of another person without authorization, or falsely state the endorsement of or opposition to a candidate by a person or publication;
(9) Make a false statement concerning the voting record of a candidate or board member;
(10) Post, publish, circulate, distribute, or otherwise disseminate a false statement concerning a candidate, either knowing the same to be false or with reckless disregard of whether it was false or not, if the statement is designed to promote the election, nomination, or defeat of the candidate.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.055 | Complaint Alleging Violation of Rc 145.054 - Procedure - Fine.

Effective:
September 15, 2004
Latest Legislation:
Senate Bill 133 - 125th General Assembly
The secretary of state, or any person acting on personal knowledge and subject to the penalties of perjury, may file a complaint with the Ohio elections commission alleging a violation of section 145.054 of the Revised Code. The complaint shall be made on a form prescribed and provided by the commission.
On receipt of a complaint under this section, the commission shall hold a hearing open to the public to determine whether the violation alleged in the complaint has occurred. The commission may administer oaths and issue subpoenas to any person in the state compelling the attendance of witnesses and the production of relevant papers, books, accounts, and reports. On the refusal of any person to obey a subpoena or to be sworn or to answer as a witness, the commission may apply to the court of common pleas of Franklin county under section 2705.03 of the Revised Code. The court shall hold contempt proceedings in accordance with Chapter 2705. of the Revised Code.
The commission shall provide the person accused of the violation at least seven days prior notice of the time, date, and place of the hearing. The accused may be represented by an attorney and shall have an opportunity to present evidence, call witnesses, and cross-examine witnesses.
At the hearing, the commission shall determine whether the violation alleged in the complaint has occurred. If the commission determines that a violation of division (A) of section 145.054 of the Revised Code has occurred, the commission shall either impose a fine under section 145.99 of the Revised Code or enter a finding that good cause has been shown not to impose the fine. If the commission determines that a violation of division (B) of section 145.054 of the Revised Code has occurred, the commission shall impose the fine described in section 145.99 of the Revised Code, refer the matter to the appropriate prosecutor, or enter a finding that good cause has been shown not to impose a fine or refer the matter to a prosecutor.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.058 | Adoption of Election Rules - Certification of Nominating Petitions and Election Results.

Effective:
September 15, 2004
Latest Legislation:
Senate Bill 133 - 125th General Assembly
(A) The public employees retirement board, following consultation with the secretary of state, shall adopt rules in accordance with Chapter 119. of the Revised Code, governing all of the following:
(1) The administration of elections of members of the board under section 145.05 of the Revised Code, special elections provided for by section 145.051 of the Revised Code, and elections held under section 145.06 of the Revised Code to fill vacancies on the board;
(2) Nominating petitions for the elections;
(3) Certification of the validity of nominating petitions for the elections;
(4) Certification of the results of the elections.
(B) The board may contract with the secretary of state or an independent firm to administer the elections, certify the validity of nominating petitions, and certify the results of the elections. The secretary of state and the independent firm shall perform these services in accordance with the rules adopted under division (A) of this section. Notwithstanding section 145.27 of the Revised Code, the board shall provide information necessary for the secretary of state or the independent firm to certify the election. If the board contracts with an independent firm to administer an election, the secretary of state may audit the election.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.06 | Vacancies.

Effective:
January 7, 2013
Latest Legislation:
Senate Bill 343 - 129th General Assembly
(A) Except as provided in division (D) of this section, if a vacancy occurs in the term of any employee member of the public employees retirement board, the remaining members of the board shall elect a successor employee member from the employee group lacking representation because of the vacancy. On certification of the election results in accordance with rules adopted under section 145.058 of the Revised Code, the successor employee member shall hold office until the first day of the new term that follows the next board election that occurs not less than ninety days after the successor employee member's election.
Any employee member of the board who fails to attend the meetings of the board for three months or longer, without valid excuse, shall be considered as having resigned, and the board shall declare the employee member's office vacated as of the date of the adoption of a proper resolution.
If as a result of changed circumstances an employee member of the board is no longer employed in the employee group that corresponds with the employee group that elected the member, the employee member's office shall be considered vacant, and a successor employee member shall be chosen in the manner specified in this division.
(B) Except as provided in division (D) of this section, if a vacancy occurs during the term of office of a retirant member of the board, the remaining members of the board shall elect a successor retirant member who shall be a former member of the public employees retirement system who is eligible for election under section 145.04 of the Revised Code as a retirant member of the board. On certification of the election results in accordance with rules adopted under section 145.058 of the Revised Code, the successor retirant member shall hold office until the first day of the new term that follows the next board election that occurs not less than ninety days after the successor retirant member's election.
If a retirant member of the board fails to attend the meetings of the board for three months or longer, without valid excuse, the retirant member shall be considered as having resigned, and the board shall declare the member's office vacated as of the date of the adoption of a proper resolution.
If as a result of changed circumstances a retirant member would no longer qualify for membership on the board as the retirant member, the retirant member's office shall be considered vacant, and a successor retirant member shall be chosen in the manner specified in this division.
(C) Elections under this section to fill a vacancy on the board shall be conducted in accordance with rules adopted under section 145.058 of the Revised Code.
(D) A successor member need not be elected under division (A) or (B) of this section for a vacancy that occurs on or after the first day of October of the year in which the vacated term ends.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.07 | Oath of Office - Quorum - Meetings.

Effective:
September 21, 2000
Latest Legislation:
House Bill 628 - 123rd General Assembly
Each member of the public employees retirement board, upon assuming office, shall take an oath that the member will support the constitution of the United States and the constitution of the state, and that the member will diligently and honestly administer the affairs of the board and that the member will not knowingly violate or willfully permit to be violated any provision of this chapter. Such oath shall be subscribed to by the member making it, and certified by the officer before whom it is taken, and shall be immediately filed in the office of the secretary of state. A majority of the members of the board constitutes a quorum. All meetings of the board shall be open to the public except executive sessions as set forth in division (G) of section 121.22 of the Revised Code, and any portions of any sessions discussing medical records or the degree of disability of a member excluded from public inspection by section 145.27 of the Revised Code.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.08 | Reimbursing Expenses of Board Members - Liability Insurance.

Effective:
August 25, 1995
Latest Legislation:
House Bill 226 - 121st General Assembly
(A) The members of the public employees retirement board shall serve without compensation but shall suffer no loss or penalty whatsoever because of absence from their regular employment to attend meetings authorized and called by the board. The board members shall be reimbursed for all actual necessary expenses from the expense fund created under division (E) of section 145.23 of the Revised Code.
Any determination by the board that a meeting of the board, or any part of the board, is necessary shall be final.
(B) The board may secure insurance coverage designated to indemnify board members and employees for their actions or conduct in the performance of official duties, and may pay required premiums for such coverage from the expense fund.
(C) The board shall adopt rules in accordance with section 111.15 of the Revised Code establishing a policy for reimbursement of travel expenses incurred by board members in the performance of their official duties. As part of any audit performed under Chapter 117. of the Revised Code, an inquiry shall be made into whether board members have complied with these rules.
(D) No board member shall accept payment or reimbursement for travel expenses, other than for meals and other food and beverages provided to the member, from any source other than the expense fund. Except in the case of an emergency, no out-of-state travel expenses shall be reimbursed unless approved in advance by a majority of the board at a regular board meeting.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.09 | Election of Chairperson and Appointment of Executive Director - Powers and Duties of Board.

Effective:
August 18, 2019
Latest Legislation:
Senate Bill 221 - 132nd General Assembly
The public employees retirement board shall elect from its membership a chairperson. The board shall appoint an executive director who shall serve as secretary to the board, an actuary, and other employees as necessary for the transaction of the business of the public employees retirement system. The compensation of all persons so appointed shall be fixed by the board. Such persons appointed by the board are not employees of the state and are not subject to Chapter 124. of the Revised Code.
If the board provides health care coverage to employees of the retirement system, it may permit employees of the Ohio public employees deferred compensation board to participate.
Effective ninety days after September 15, 2004, the board may not employ a state retirement system investment officer, as defined in section 1707.01 of the Revised Code, who does not hold a valid state retirement system investment officer license issued by the division of securities in the department of commerce.
Every expense voucher of an employee, officer, or board member of the public employees retirement system shall itemize all purchases and expenditures.
The board shall perform other functions as required for the proper execution of this chapter, and may adopt rules in accordance with section 111.15 of the Revised Code for the proper administration and management of this chapter.
The board may take all appropriate action to avoid payment by the system or its members of federal or state income taxes on contributions to the system or amounts earned on such contributions.
Notice of proposed rules shall be given to interested parties and rules adopted by the board shall be published and otherwise made available. When it files a rule with the joint committee on agency rule review pursuant to section 111.15 of the Revised Code, the board shall submit to the Ohio retirement study council a copy of the full text of the rule, and if applicable, a copy of the rule summary and fiscal analysis required by division (B) of section 106.024 of the Revised Code.
The board may sue and be sued, plead and be impleaded, contract and be contracted with. All of its business shall be transacted, all of its funds invested, all warrants for money drawn and payments made, and all of its cash and securities and other property shall be held in the name of the board, or in the name of its nominee, provided that nominees are authorized by retirement board resolution for the purpose of facilitating the ownership and transfer of investments.
If the Ohio retirement study council establishes a uniform format for any report the board is required to submit to the council, the board shall submit the report in that format.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.091 | Administering Defined Benefit and Defined Contribution Plans.

Effective:
October 1, 2002
Latest Legislation:
Senate Bill 247 - 124th General Assembly
The public employees retirement system shall administer the PERS defined benefit plan and the PERS defined contribution plans.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.092 | Travel Expense Policies - Bonus Policy - Budget.

Effective:
September 15, 2004
Latest Legislation:
Senate Bill 133 - 125th General Assembly
(A) The public employees retirement board, in consultation with the Ohio ethics commission, shall review any existing policy regarding the travel and payment of travel expenses of members and employees of the public employees retirement board and adopt rules in accordance with section 145.09 of the Revised Code establishing a new or revised policy regarding travel and payment of travel expenses. Not less than sixty days before adopting a new or revised policy, the board shall submit the policy to the Ohio retirement study council for review.
(B) If the board intends to award a bonus to any employee of the board, it shall adopt rules in accordance with section 145.09 of the Revised Code establishing a policy regarding employee bonuses.
(C) The board shall provide copies of the rules adopted under divisions (A) and (B) of this section to each member of the Ohio retirement study council;
(D) The board shall submit both of the following to the Ohio retirement study council:
(1) A proposed operating budget, including an administrative budget for the board, for the next immediate fiscal year and adopt that budget not earlier than sixty days after it is submitted to the council;
(2) A plan describing how the board will improve the dissemination of public information pertaining to the board.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.093 | Ethics Policy - Commission Approval - Ethics Training.

Effective:
September 15, 2004
Latest Legislation:
Senate Bill 133 - 125th General Assembly
The public employees retirement board shall, in consultation with the Ohio ethics commission, develop an ethics policy to govern board members and employees in the performance of their official duties. The board shall submit this policy to the commission for approval.
The commission shall review the policy and, if the commission determines that the policy is adequate, approve the policy. If the commission determines that the policy is inadequate, it shall specify the revisions to be made and the board shall submit a revised policy. If the commission approves the revised policy, the board shall adopt it. If not, the board shall make any further revisions required by the commission and adopt the policy. Not less than sixty days before adopting the policy, the board shall submit it to the Ohio retirement study council for review.
The board periodically shall provide ethics training to members and employees of the board. The training shall include training regarding the requirements and prohibitions of Chapter 102. of the Revised Code and sections 2921.42 and 2921.43 of the Revised Code and any other training the board considers appropriate.
The board shall establish a procedure to ensure that each employee of the board is informed of the procedure for filing a complaint alleging violation of Chapter 102. of the Revised Code or section 2921.42 or 2921.43 of the Revised Code with the Ohio ethics commission or the appropriate prosecuting attorney.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.095 | Selection of Internal Auditor.

Effective:
September 15, 2004
Latest Legislation:
Senate Bill 133 - 125th General Assembly
The public employees retirement board shall appoint a committee to oversee the selection of an internal auditor. The committee shall select one or more persons for employment as an internal auditor. The board shall employ the person or persons selected by the committee.
The committee shall consist of the following board members: one retirant member, one employee member, and the director of administrative services. The committee shall annually prepare and submit to the Ohio retirement study council a report of its actions during the preceding year.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.101 | Venue for Court Actions.

Effective:
January 7, 2013
Latest Legislation:
Senate Bill 343 - 129th General Assembly
Any action brought against the public employees retirement system or the public employees retirement board or its officers, employees, or board members in their official capacities shall be brought in the appropriate court in Franklin county, Ohio.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.111 | No Board Member or Employee Shall Have an Interest in Board Funds.

Effective:
September 21, 2000
Latest Legislation:
House Bill 628 - 123rd General Assembly
Except as provided in this chapter, no member or employee of the public employees retirement board shall have any interest direct or indirect in the gains or profits of any investment made by the board nor as such directly or indirectly receive any pay or emolument of the member's or employee's services. No member or person connected with the board directly or indirectly, for self or as an agent or partner of others, shall borrow any of its funds or deposits or in any manner use the same except to make such current and necessary payments as are authorized by the board. No member or employee shall become an indorser or surety or become in any manner an obligor for moneys loaned by or borrowed from the board.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.112 | Prohibited Business Transactions.

Effective:
August 20, 1976
Latest Legislation:
House Bill 268 - 111th General Assembly
The public employees retirement system shall make no investments through or purchases from, or otherwise do any business with any individual who is, or any partnership, association, or corporation that is owned or controlled by, a person who within the preceding three years was employed by, a board member of, or an officer of the public employees retirement system, or in which a person who within the preceding three years was employed by, a board member of, or an officer holds a fiduciary, administrative, supervisory, or trust position, or any other position in which such person would be involved, on behalf of his employer, in decisions or recommendations affecting the investment policy of the public employees retirement system, and in which such person would benefit by any monetary gain.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.113 | Restrictions on Fiduciaries.

Effective:
June 22, 1984
Latest Legislation:
House Bill 37 - 115th General Assembly
(A) Except as provided in division (B) of this section, a fiduciary shall not cause the public employees retirement system to engage in a transaction, if he knows or should know that such transaction constitutes a direct or indirect:
(1) Sale or exchange, or leasing, of any property between the system and a party in interest;
(2) Lending of money or other extension of credit between the system and a party in interest;
(3) Furnishing of goods, services, or facilities between the system and a party in interest;
(4) Transfer to, or use by or for the benefit of a party in interest, of any assets of the system; or
(5) Acquisition, on behalf of the system, of any employer security or employer real property.
(B) Nothing in this section shall prohibit any transaction between the public employees retirement system and any fiduciary or party in interest if:
(1) All the terms and conditions of the transaction are comparable to the terms and conditions which might reasonably be expected in a similar transaction between similar parties who are not parties in interest; and
(2) The transaction is consistent with the fiduciary duties described in Chapter 145. of the Revised Code.
(C) A fiduciary shall not:
(1) Deal with the assets of the system in his own interest or for his own account;
(2) In his individual or in any other capacity, act in any transaction involving the system on behalf of a party (or represent a party) whose interests are adverse to the interests of the system or the interests of its participants or beneficiaries; or
(3) Receive any consideration for his own personal account from any party dealing with such system in connection with a transaction involving the assets of the system.
(D) In addition to any liability which he may have under any other provision, a fiduciary with respect to the system shall be liable for a breach of fiduciary responsibility of any fiduciary with respect to the system in the following circumstances:
(1) If he participates knowingly in, or knowingly undertakes to conceal, an act or omission of such other fiduciary, knowing such act or omission is a breach;
(2) If, by his failure to comply with Chapter 145. of the Revised Code, he has enabled such other fiduciary to commit a breach; or
(3) If he has knowledge of a breach by such other fiduciary, unless he makes reasonable efforts under the circumstances to remedy the breach.
(E) Every fiduciary of the system shall be bonded or insured to an amount of not less than one million dollars for loss by reason of acts of fraud or dishonesty.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.114 | Designation of Ohio-Qualified Agents - Selection Policy - Utilization - Annual Report.

Effective:
March 31, 2021
Latest Legislation:
House Bill 312 - 133rd General Assembly
(A) As used in this section and in section 145.116 of the Revised Code:
(1) "Agent" means a dealer, as defined in section 1707.01 of the Revised Code, who is licensed under sections 1707.01 to 1707.50 of the Revised Code or under comparable laws of another state or of the United States.
(2) "Minority business enterprise" has the same meaning as in section 122.71 of the Revised Code.
(3) "Ohio-qualified agent" means an agent designated as such by the public employees retirement board.
(4) "Ohio-qualified investment manager" means an investment manager designated as such by the public employees retirement board.
(5) "Principal place of business" means an office in which the agent regularly provides securities or investment advisory services and solicits, meets with, or otherwise communicates with clients.
(B) The public employees retirement board shall, for the purposes of this section, designate an agent as an Ohio-qualified agent if the agent meets all of the following requirements:
(1) The agent is subject to taxation under Chapter 5725., 5726., 5733., 5747., or 5751. of the Revised Code;
(2) The agent is authorized to conduct business in this state;
(3) The agent maintains a principal place of business in this state and employs at least five residents of this state.
(C) The public employees retirement board shall adopt and implement a written policy to establish criteria and procedures used to select agents to execute securities transactions on behalf of the retirement system. The policy shall address each of the following:
(1) Commissions charged by the agent, both in the aggregate and on a per share basis;
(2) The execution speed and trade settlement capabilities of the agent;
(3) The responsiveness, reliability, and integrity of the agent;
(4) The nature and value of research provided by the agent;
(5) Any special capabilities of the agent.
(D)(1) The board shall, at least annually, establish a policy with the goal to increase utilization by the board of Ohio-qualified agents for the execution of domestic equity and fixed income trades on behalf of the retirement system, when an Ohio-qualified agent offers quality, services, and safety comparable to other agents otherwise available to the board and meets the criteria established under division (C) of this section.
(2) The board shall review, at least annually, the performance of the agents that execute securities transactions on behalf of the board.
(3) The board shall determine whether an agent is an Ohio-qualified agent, meets the criteria established by the board pursuant to division (C) of this section, and offers quality, services, and safety comparable to other agents otherwise available to the board. The board's determination shall be final.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.115 | Annual Disclosures to Ohio Ethics Commission.

Effective:
September 15, 2004
Latest Legislation:
Senate Bill 133 - 125th General Assembly
(A) The public employees retirement system shall disclose the following to the Ohio ethics commission:
(1) Anything of value received by the system from an agent and anything of value given on behalf of the system by an agent;
(2) The name of any employee of the system with authority over the investment of retirement system funds or any board member of the system who deals with an agent regarding amounts described in division (A)(1) of this section.
(B) The disclosures required by this section shall be made annually in a report submitted by a date prescribed by the Ohio ethics commission.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.116 | Designation of Ohio-Qualified Investment Managers - Utilization - Annual Report.

Effective:
September 29, 2015
Latest Legislation:
House Bill 64 - 131st General Assembly
(A) The public employees retirement board shall, for the purposes of this section, designate an investment manager as an Ohio-qualified investment manager if the investment manager meets all of the following requirements:
(1) The investment manager is subject to taxation under Chapter 5725., 5726., 5733., 5747., or 5751. of the Revised Code;
(2) The investment manager meets one of the following requirements:
(a) Has its corporate headquarters or principal place of business in this state;
(b) Employs at least five hundred individuals in this state;
(c) Has a principal place of business in this state and employs at least twenty residents of this state.
(B)(1) The board shall, at least annually, establish a policy with the goal to increase utilization by the board of Ohio-qualified investment managers, when an Ohio-qualified investment manager offers quality, services, and safety comparable to other investment managers otherwise available to the board. The policy shall also provide for the following:
(a) A process whereby the board can develop a list of Ohio-qualified investment managers and their investment products;
(b) A process whereby the board can give public notice to Ohio-qualified investment managers of the board's search for an investment manager that includes the board's search criteria.
(2) The board shall determine whether an investment manager is an Ohio-qualified investment manager and whether the investment manager offers quality, services, and safety comparable to other investment managers otherwise available to the board. The board's determination shall be final.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.14 | Percentage of Funds Available for Annuities and Other Payments - Deposit.

Effective:
September 21, 2000
Latest Legislation:
House Bill 628 - 123rd General Assembly
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.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.15 | Employee Information Provided by Each Department.

Effective:
April 24, 1986
Latest Legislation:
House Bill 502 - 116th General Assembly
The head of each department shall submit to the public employees retirement board a statement showing the name, sex, title, earnable salary, duties, date of birth, and length of service as a public employee of every public employee in his department.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.16 | Statement to Be Filed by Employee Member.

Effective:
June 30, 1991
Latest Legislation:
House Bill 382 - 119th General Assembly
Each public employee shall file a detailed statement of all his previous service as a public employee and shall furnish such other information as the public employees retirement board requires for the proper operation of the system.
The employee shall file the statement within thirty days of commencing employment. If he fails to do so within that time, the board shall notify his employer's fiscal officer. On receipt of the notice, the fiscal officer shall withhold all salary payments to the employee until the statement is filed with the board.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.17 | Department Monthly Statement.

Effective:
June 30, 1991
Latest Legislation:
House Bill 382 - 119th General Assembly
The head of each department shall, on the first day of each calendar month, notify the public employees retirement board of the employment or the entering into office of new public employees, and shall submit to the board a statement showing the names, sex, title, earnable salary, duties, and date of birth of the new public employees, and shall also notify the board at the same time of all removals, withdrawals, and changes in salary of any contributors to the public employees retirement system that has occurred during the preceding month.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.171 | Information to New Employees.

Effective:
September 21, 2000
Latest Legislation:
House Bill 628 - 123rd General Assembly
On receipt of notice under section 145.17 of the Revised Code of the employment of a new public employee, the public employees retirement system shall inform the employee of the requirements of section 145.19 of the Revised Code.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.18 | Records Kept by Department Heads.

Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
Under the direction of the public employees retirement board, the head of each department shall keep such records as will enable him to furnish information in such form as the board requires in the discharge of its duties.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.19 | Electing Defined Benefit or Defined Contribution Plan.

Effective:
January 7, 2013
Latest Legislation:
Senate Bill 343 - 129th General Assembly
(A) Except as provided in division (D) of this section, an individual who becomes employed in a position subject to this chapter on or after January 1, 2003, shall make an election under this section. Not later than one hundred eighty days after the date on which employment begins, the individual shall elect to participate either in the PERS defined benefit plan or a PERS defined contribution plan. Unless a form evidencing an election under this section is received by the public employees retirement system on or before the last day of the one-hundred-eighty-day period, the individual is deemed to have elected to participate in the PERS defined benefit plan.
(B) An election under this section shall be made on a form provided by the system and filed with the system.
(C) An election under this section shall take effect on the date employment began and, except as provided in section 145.814 of the Revised Code or rules governing the PERS defined benefit plan, is irrevocable on receipt by the system.
(D) An individual is ineligible to make an election under this section if one of the following applies:
(1) The individual is a PERS retirant or other system retirant, as those terms are defined in section 145.38 of the Revised Code, or is retired under section 145.383 of the Revised Code.
(2) The individual is participating or has elected to participate in an alternative retirement plan under section 3305.05 or 3305.051 of the Revised Code and the employment is in a position that is subject to division (C)(4) of section 3305.05 or division (F) of section 3305.051 of the Revised Code.
(3) The individual has contributions 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.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.191 | Employee With Less Than 5 Years of Service Electing to Participate in Defined Contribution Plan.

Effective:
March 23, 2015
Latest Legislation:
Senate Bill 42 - 130th General Assembly
(A) Except as provided in division (F) of this section, a public employees retirement system member or contributor who, as of December 31, 2002, has less than five years of total service 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 received by the system on or before that date, a member or contributor to whom this section applies is deemed to have elected to continue participating in the PERS defined benefit plan.
(B) An election under this section shall be made in writing on a form provided by the system and filed with the system.
(C) On the request of a member or contributor who made an election under this section, the system shall credit to the plan elected the accumulated contributions standing to the credit of the member or contributor in the employees' savings fund and cancel all service credit and eligibility for any payment, benefit, or right under the PERS defined benefit plan.
(D) For each member or contributor who elected under this section to participate in a PERS defined contribution plan and made a request under division (C) of this section, any additional deposits that were made by the member or contributor prior to April 6, 2007, under the version of division (C) of section 145.23 of the Revised Code as it existed immediately prior to that date shall be credited to the defined contribution plan.
(E) An election under this section is effective as of January 1, 2003, and, except as provided in section 145.814 of the Revised Code or rules governing the PERS defined benefit plan, is irrevocable on receipt by the system.
(F) An election may not be made under this section by a member or contributor who is either of the following:
(1) A PERS retirant who is a member under division (C) of section 145.38 of the Revised Code;
(2) A PERS law enforcement officer or a PERS public safety officer.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.192 | Effect of Electing Defined Contribution Plan.

Effective:
January 7, 2013
Latest Legislation:
Senate Bill 343 - 129th General Assembly
Except as provided in section 145.195, 145.814, or in division (C) of section 145.82 of the Revised Code, a member of the public employees retirement system who elects to participate in a PERS defined contribution plan shall be ineligible for any benefit or payment under the PERS defined benefit plan and shall be forever barred 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.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.193 | Election After Reemployment.

Effective:
January 7, 2013
Latest Legislation:
Senate Bill 343 - 129th General Assembly
Except as provided in section 145.194 or division (C)(4) of section 3305.05 and division (F) of section 3305.051 of the Revised Code, an election 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, and later becomes employed in a position subject to this chapter may make an election under section 145.19 of the Revised Code as provided by that section.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.194 | Contributions by Law Enforcement or Public Safety Officers to Defined Contribution Plan.

Effective:
March 23, 2015
Latest Legislation:
Senate Bill 42 - 130th General Assembly
(A) A member participating in a PERS defined contribution plan who becomes a PERS law enforcement officer or PERS public safety officer shall cease making contributions to a PERS defined contribution plan. During employment as a PERS law enforcement officer or a PERS public safety officer and any concurrent employment in a position subject to this chapter, the member shall contribute only to the PERS defined benefit plan.
(B) A member described in division (A) of this section with contributions standing to the member's credit in a PERS defined contribution plan may 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.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.195 | Participants in Both Defined Benefit and Defined Contribution Plans.

Effective:
October 3, 2023
Latest Legislation:
House Bill 33 - 135th General Assembly
The public employees retirement system 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.
Last updated August 15, 2023 at 1:19 PM