reglab/statecodes huggingface dataset:
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.50 | Payment of Death Benefit.

Effective:
January 7, 2013
Latest Legislation:
Senate Bill 341 - 129th General Assembly
(A)(1) Upon the death of a retirant or disability benefit recipient, who at the time of death is receiving a service retirement allowance or disability benefit from the school employees retirement system, a lump-sum payment of one thousand dollars shall be paid, following completion of an application on a form approved by the school employees retirement board, in the following order of precedence to:
(a) The retirant or recipient's designated beneficiary;
(b) The retirant or recipient's surviving spouse;
(c) The retirant or recipient's children, share and share alike;
(d) The retirant or recipient's parents, share and share alike;
(e) The person responsible for the retirant or recipient's burial expenses;
(f) The retirant or recipient's estate.
(2) If a person listed in division (A)(1) of this section is deceased or is not located within one hundred eighty days, the person ceases to qualify for the payment. The payment shall be made to the person next in order of precedence.
(B) 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 3309.49 of the Revised Code and any earnings attributable to those contributions.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.53 | Written Statement to Employee of Duties and Obligations.

Effective:
April 9, 2001
Latest Legislation:
Senate Bill 270 - 123rd General Assembly
Each employer, before employing any employee to whom this chapter may apply, shall give such person a written statement of the person's duties and obligations under such sections as a condition of employment, which statement shall be prepared and supplied to each employer by the school employees retirement board.
Any such appointment or reappointment of any employee, or service upon indefinite tenure, shall be conditioned upon the employee's acceptance of such sections as a part of the contract.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.55 | Notifying Board of Personnel Changes.

Effective:
March 23, 2015
Latest Legislation:
Senate Bill 42 - 130th General Assembly
Each employer shall on the first day of each calendar month, or at such intervals as the school employees retirement board approves, notify the board of removals and withdrawals of employees that have occurred during the month preceding or the period since the period covered by the last notification. Each employer shall keep such records and shall furnish such information and assistance to the school employees retirement board as it requires in the discharge of its duties.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.56 | Deductions; Report.

Effective:
March 23, 2015
Latest Legislation:
Senate Bill 42 - 130th General Assembly
Each employer shall cause to be deducted, on each payroll of a contributor for each payroll period, the contribution payable by such contributor. Each employer shall send a report that lists such contributions deducted by contributor to the school employees retirement system at such time and in such manner as required by the school employees retirement board.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.57 | Transmission of Contributions.

Effective:
March 26, 2015
Latest Legislation:
Senate Bill 42 - 130th General Assembly
Each employer shall transmit monthly or at such times as the school employees retirement board designates the contributions required under this chapter. The school employees retirement system after making a record of all such receipts shall pay them to the treasurer of state for use according to this chapter.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.571 | Penalties.

Effective:
March 23, 2015
Latest Legislation:
Senate Bill 42 - 130th General Assembly
The school employees retirement system shall impose the following penalties, which may be collected in the same manner as described in division (B) of section 3309.51 of the Revised Code:
(A) For a failure to transmit contributions withheld from employees not later than the date specified under rules adopted by the school employees retirement board, one hundred dollars per day for each day the employer fails to transmit the contributions;
(B) For a failure to transmit any amount due the employer's trust fund not later than the date specified under rules adopted by the board, one hundred dollars per day for each day the employer fails to transmit the amounts;
(C) Except for a statement required by section 3309.28 of the Revised Code, for a failure to submit a payroll report or other report required under this chapter not later than the date specified under rules adopted by the board, one hundred dollars per day for each day the employer fails to submit the report, except that the penalty shall not exceed one thousand five hundred dollars;
(D) For a failure to submit a record in the form of a statement required by section 3309.28 of the Revised Code, fifty dollars per record for each month the record is not filed, except that the penalty shall not exceed three hundred dollars.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.59 | Levying Additional Taxes.

Effective:
April 9, 2001
Latest Legislation:
Senate Bill 270 - 123rd General Assembly
Employers who obtain funds directly by taxation shall levy annually such additional taxes as are required to provide the additional funds necessary to meet the financial requirements imposed upon them by this chapter and said tax shall be placed before and in preference to all other items except for sinking fund or interest purposes.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.61 | Each Fund Is Separate Legal Entity.

Effective:
April 9, 2001
Latest Legislation:
Senate Bill 270 - 123rd General Assembly
Wherever in this chapter, reference is made to the employees' savings fund, the employers' trust fund, the annuity and pension reserve fund, the guarantee fund, the survivors' benefit fund, the defined contribution fund, or the expense fund, such reference shall be construed to have been 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.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.62 | Estimating Expenses Annually.

Effective:
August 1, 1959
Latest Legislation:
Senate Bill 160 - 103rd General Assembly
The school employees retirement board shall estimate annually the amount required to defray expenses of administration in the ensuing year and may apportion such expenses among the members. The amount so apportioned in any year shall not exceed three dollars per member. If the amount estimated to be required to meet the expenses of the board exceeds the amounts apportioned by the board, the amount of such excess shall be paid from the guarantee fund.
If, in the judgment of the board, as evidenced by a resolution of that board recorded in its minutes, the amount in the guarantee fund exceeds the amount necessary to cover the ordinary requirement of that fund, the board may transfer to the expense fund such excess amount not exceeding the entire amount required to cover the expenses as estimated for the year and the board may then apportion the remaining amount required for the expense fund among the contributors.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.63 | Merger of Local Pension System With School Employees Retirement System - Procedure.

Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
If a local district pension system votes to merge with the school employees retirement system, the school employees retirement board shall employ an actuary to value the assets and liabilities which will be taken over by the school employees retirement system hereby created in the event of such merger. The actuary so employed shall be an actuary also approved by the employer in whose district the local district pension system is operated, and the expense of the valuation shall be paid by such employer. The actuary shall compute the present value of the liabilities on account of employees in service in the local district pension system and on account of pensioners in the rolls of such local district pension system. He shall also compute the present value of the prospective amount to be received by reason of the payment of the normal contributions by the employer on behalf of the active employees of such local system in the event of the contemplated merger. From the present value of the total liability for pensions on account of employees in service in the local district pension system as previously determined, the actuary shall deduct the present value of the normal contributions.
The amount remaining, together with the excess, of the present value of all payments, necessary to continue the pensions of the pensioners of the local district pension system, over and above the amount of moneys and securities of such system, shall be known as the "accrued liability." No employee who is a member of a local district pension system on April 13, 1937, shall receive a lesser total retirement allowance upon retirement after merger of the local system with the state system than said employee would have received upon retirement under the local system.
Last updated March 9, 2022 at 12:13 PM
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.64 | Payment of Accrued Liability - Interest - Rate.

Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
That part of the accrued liability due on account of pensions to pensioners already on the rolls of such local district pension system, referred to in section 3309.63 of the Revised Code, remaining unpaid on September 1, 1937, shall be paid by the employer at the rate of at least four per cent per annum of such accrued liability with interest at four per cent per annum on unpaid balances. Both the payment and interest shall be payable semiannually on dates to be fixed by the school employees retirement board. Payments on that part of the accrued liability due to employees in active service in the local district pension system shall be at the same rate per cent of the salaries of such employees as the deficiency contribution rate fixed in section 3309.50 of the Revised Code, and shall be made until the year in which the deficiency contribution payable by other employers who had no local pension system may be discontinued.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.65 | Procedure for Transfer of Moneys and Securities in Event of Merger.

Effective:
November 20, 1973
Latest Legislation:
House Bill 430 - 110th General Assembly
The increasing contribution determined as provided in sections 3309.63 and 3309.64 of the Revised Code by the actuary shall be paid by the employer instead of the deficiency contribution computed as otherwise provided by this chapter. In the event of merger, the moneys and securities to the credit of the local district pension system, not exceeding an aggregate amount equal to the present value of the payments to be made on account of all pensions to the pensioners on the rolls of the local district pension system, shall be transferred to the employers' accumulation fund and the pensions then payable by the local district pension system shall thereafter be paid from the employers' accumulation fund until the reserves on these pensions with the other pensions payable from the employers' accumulation fund have been accumulated and shall be transferred to the annuity and pension reserve fund, from which fund they shall thereafter be payable. The pensions of the active members of the local district pension system and of the new entrants shall thereafter be payable as are the pensions of other members of the school employees retirement system. The amount of the excess of the moneys and securities of the local district pension system over and above the present value of the payments to be made on account of all pensions to the pensioners of the rolls of the local district pension system shall be transferred to the employees' savings fund and shall be credited pro rata to the active employees of such local district pension system on the basis of the amounts of their previous contributions to the local district pension system. In case such method of distribution is not found practicable by the school employees retirement board, the board may use such other method of apportionment as seems fair and equitable to such board. The amount so credited shall be considered as a part of the employee's accumulated contributions, and (1) in the case of service or commuted service retirement shall be considered as an amount in excess of the employee's accumulated contributions and may be used in purchasing from the annuity and pension reserve fund an annuity, in addition to any other annuity or pension benefit otherwise provided by this chapter, and (2) in case the beneficiary elects to take a survivor benefit under division (B) of section 3309.45 of the Revised Code, the amount shall be refunded to the beneficiary.
After the moneys and securities of any local district pension system have been transferred to the employers' accumulation fund or to the employees' savings fund, such local district pension system shall cease to exist.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.66 | Tax Exemptions.

Effective:
January 1, 2016
Latest Legislation:
House Bill 64 - 131st General Assembly
The right of an individual to a pension, an annuity, or a retirement allowance itself, the right of an individual to any optional benefit, any other right accrued or accruing to any individual under this chapter, the various funds created by section 3309.60 of the Revised Code, and all moneys, investments, and income from moneys and investments are exempt from any state tax, except the tax imposed by section 5747.02 of the Revised Code, and are exempt from any county, municipal, or other local tax, except income taxes imposed pursuant to section 5748.02, 5748.08, or 5748.09 of the Revised Code, and, except as provided in sections 3105.171, 3105.65, 3115.501, 3119.80, 3119.81, 3121.02, 3121.03, 3123.06, 3309.67, 3309.672, and 3309.673 of the Revised Code, shall not be subject to execution, garnishment, attachment, the operation of bankruptcy or insolvency laws, or any other process of law whatsoever, and shall be unassignable except as specifically provided in this chapter and in sections 3105.171, 3105.65, 3115.501, 3119.80, 3119.81, 3121.02, 3121.03, and 3123.06 of the Revised Code.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.661 | Acquiring Vested Right in Pension When Granted.

Effective:
September 29, 2017
Latest Legislation:
House Bill 49 - 132nd General Assembly
(A) Except as provided in section 3309.673 of the Revised Code, the granting of a retirement allowance, annuity, pension, or other benefit to any person pursuant to action of the school employees retirement board vests a right in such person, so long as the person remains the recipient of any of the funds established by section 3309.60 of the Revised Code, to receive such retirement allowance, annuity, pension, or benefit. Such right shall also be vested with equal effect in the recipient of a grant heretofore made from any of the funds named in section 3309.60 of the Revised Code.
(B) This section does not affect the retirement board's authority under division (G) of section 3309.374 of the Revised Code.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.662 | Waiver of Rights.

Effective:
June 30, 1991
Latest Legislation:
House Bill 382 - 119th General Assembly
(A) Any person who is receiving an allowance, benefit, or any increase under the provisions of this chapter may, at any time, waive his rights thereto, or to a portion thereof, by filing a written notice of waiver with the school employees retirement board. Except as provided in division (B) of this section, such waiver shall remain in effect until the first day of the month following his death or the filing of his written cancellation of such waiver with the school employees retirement board. It is further provided that any amount so waived shall be forever forfeited.
(B) If a beneficiary waives in writing all claim to any benefits under this chapter prior to receipt of the first benefit, the waiver shall put in effect the succession of beneficiaries as provided in division (C) of section 3309.44 of the Revised Code and shall be irrevocable.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.663 | Payroll Deduction of Membership Dues and Fees of Retiree Organizations.

Effective:
March 17, 2000
Latest Legislation:
House Bill 186 - 123rd General Assembly
Any person receiving from the school employees retirement system an allowance, annuity, pension, or benefit may authorize the system to make deductions therefrom for the payment of dues and other membership fees to any retirement association or other organization composed primarily of retired public employees or retired public employees and their spouses if the association or organization adopts a resolution approving payment by that method and not fewer than five hundred persons receiving allowances, annuities, pensions, or benefits from the system initially authorize the deduction for payment to the same association or organization. The authorization shall be in writing and signed by the person giving it. The system shall make the deductions authorized and pay to the association or organization the amounts deducted, until the authorization is revoked in writing by the person. The system may charge the association or organization an amount not exceeding the actual costs incurred by the system in making the deductions. The system shall adopt rules establishing the method of collecting the amount charged, if any.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.67 | Restitution Order Based on Theft in Office or Certain Sex Offenses.

Effective:
December 6, 1996
Latest Legislation:
House Bill 668 - 121st General Assembly
(A) Notwithstanding any other provision of this chapter, any payment that is to be made under a pension, annuity, allowance, or other type of benefit, other than a survivorship benefit, that has been granted to a person under this chapter, any payment of accumulated contributions standing to a person's credit under this chapter, and any payment of any other amounts to be paid to a person under this chapter upon the person's withdrawal of contributions pursuant to this chapter shall be subject to any withholding order issued pursuant to section 2907.15 of the Revised Code or division (C)(2)(b) of section 2921.41 of the Revised Code, and the school employees retirement board shall comply with that withholding order in making the payment.
(B) Notwithstanding any other provision of this chapter, if the board receives notice pursuant to section 2907.15 of the Revised Code or division (D) of section 2921.41 of the Revised Code that a person who has accumulated contributions standing to the person's credit pursuant to this chapter is charged with a violation of section 2907.02, 2907.03, 2907.04, 2907.05, or 2921.41 of the Revised Code, no payment of those accumulated contributions, of any other amounts to be paid under this chapter upon the person's withdrawal of contributions pursuant to this chapter, or of any amount to be paid to a contributor as a lump sum or single payment under section 3309.341 of the Revised Code, shall be made prior to whichever of the following is applicable:
(1) If the person is convicted of or pleads guilty to the charge and no motion for a withholding order for purposes of restitution has been filed under section 2907.15 of the Revised Code or division (C)(2)(b)(i) of section 2921.41 of the Revised Code, thirty days after the day on which final disposition of the charge is made;
(2) If the person is convicted of or pleads guilty to the charge and a motion for a withholding order for purposes of restitution has been filed under section 2907.15 of the Revised Code or division (C)(2)(b)(i) of section 2921.41 of the Revised Code, the day on which the court decides the motion;
(3) If the charge is dismissed or the person is found not guilty or not guilty by reason of insanity of the charge, the day on which final disposition of the charge is made.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.672 | Forfeiture of Retirement Benefits Under Rc 2929.192.

Effective:
May 13, 2008
Latest Legislation:
Senate Bill 3 - 127th General Assembly
(A) Notwithstanding any other provision of this chapter, any payment of accumulated contributions standing to a person's credit under this chapter and any other amount or amounts to be paid to a person who is a contributor under this chapter upon the person's withdrawal of contributions pursuant to this chapter shall be subject to any forfeiture ordered under division (A) or (B) of section 2929.192 of the Revised Code, and the school employees retirement system shall comply with that order in making the payment. Upon payment of the person's accumulated contributions and cancellation of the corresponding service credit, a person who is subject to the forfeiture described in this division may not restore the canceled service credit under this chapter or under Chapter 145., 742., 3305., 3307., or 5505. of the Revised Code.
(B) Notwithstanding any other provision of this chapter, if the system receives notice pursuant to section 2901.43 of the Revised Code that a person who has accumulated contributions standing to the person's credit pursuant to this chapter is charged with any offense or violation listed or described in divisions (D)(1) to (3) of section 2929.192 of the Revised Code that is a felony in the circumstances specified in the particular division, all of the following apply:
(1) No payment of those accumulated contributions or of any other amount or amounts to be paid to a person who is a contributor under this chapter upon the person's withdrawal of contributions pursuant to this chapter shall be made prior to whichever of the following is applicable:
(a) If the person is convicted of or pleads guilty to the charge and forfeiture is ordered under division (A) or (B) of section 2929.192 of the Revised Code, the day on which the system receives from the court a copy of the journal entry of the offender's sentence under that section;
(b) If the charge against the person is dismissed, the person is found not guilty of the charge, or the person is found not guilty by reason of insanity of the charge, the day on which the system receives notice of the final disposition of the charge.
(2) The system shall not process any application for payment under this chapter from the person prior to the final disposition of the charge.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.673 | Benefits Subject to Termination.

Effective:
July 29, 2011
Latest Legislation:
House Bill 123 - 129th General Assembly
Notwithstanding any other provision of this chapter, a disability benefit granted under this chapter is subject to an order issued under section 2929.193 of the Revised Code. The school employees retirement board shall comply with the order.
On receipt of notice under section 2901.43 of the Revised Code that a school employees retirement system member is charged with an offense listed in division (D) of section 2929.192 of the Revised Code under the circumstances specified in that division, the system shall determine whether the member has been granted a disability benefit. If so, the system shall send written notice to the prosecutor assigned to the case that the member has been granted a disability benefit under this chapter and may be subject to section 2929.193 of the Revised Code.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.68 | Payment of Amounts Due Retirement System From Treasury.

Effective:
December 1, 2006
Latest Legislation:
House Bill 530 - 126th General Assembly
All amounts due the school employees retirement system from the state treasury pursuant to this chapter shall be promptly paid upon warrant of the director of budget and management pursuant to a voucher approved by the director.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.691 | Establishing Programs for Long Term Health Care Insurance.

Effective:
March 23, 2015
Latest Legislation:
Senate Bill 42 - 130th General Assembly
The school employees retirement board may establish a program under which members of the retirement system, employers on behalf of members, and persons receiving service, disability, or survivor benefits are permitted to participate in contracts for long-term health care insurance. Participation may include dependents and family members. If a participant in a contract for long-term care insurance leaves employment, the participant and the participant's dependents and family members may, at their election, continue to participate in a program established under this section in the same manner as if the participant had not left employment, except that no part of the cost of the insurance shall be paid by the participant's former employer.
Such program may be established independently or jointly with one or more of the other retirement systems. For purposes of this section, "retirement systems" has the same meaning as in division (A) of section 145.581 of the Revised Code.
The board may enter into an agreement with insurance companies, health insuring corporations, or government agencies authorized to do business in the state for issuance of a long-term care insurance policy or contract. However, prior to entering into such an agreement with an insurance company or health insuring corporation, the board shall request the superintendent of insurance to certify the financial condition of the company or corporation. The board shall not enter into the agreement if, according to that certification, the company or corporation is insolvent, is determined by the superintendent to be potentially unable to fulfill its contractual obligations, or is placed under an order of rehabilitation or conservation by a court of competent jurisdiction or under an order of supervision by the superintendent.
The board may adopt rules in accordance with section 111.15 of the Revised Code governing the program. Any rules adopted by the board shall establish methods of payment for participation under this section, which may include establishment of a payroll deduction plan under section 3309.27 of the Revised Code, deduction of the full premium charged from a person's service, disability, or survivor benefit, or any other method of payment considered appropriate by the board. If the program is established jointly with one or more of the other retirement systems, the rules also shall establish the terms and conditions of such joint participation.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.692 | Additional Deposits to Fund Medical Expenses.

Effective:
April 6, 2007
Latest Legislation:
House Bill 272 - 126th General Assembly
As used in this section, "SERS defined benefit plan" means the plan established under sections 3309.18 to 3309.70 of the Revised Code and "SERS defined contribution plan" means the plan established under section 3309.81 of the Revised Code.
The SERS defined benefit plan or a SERS defined contribution plan may include a program under which a member participating in the plan or a member's employer is permitted to make additional deposits for the purpose of providing funds for the payment of health, medical, hospital, surgical, dental, or vision care expenses, including insurance premiums, deductible amounts, or copayments. The program may be a voluntary employees' beneficiary association, as described in section 501(c)(9) of the Internal Revenue Code, 26 U.S.C. 501(c)(9), as amended; an account described in section 401(h) of the Internal Revenue Code, 26 U.S.C. 401(h), as amended; a medical savings account; or a similar type of program under which an individual may accumulate funds for the purpose of paying such expenses. To implement the program, the school employees retirement board may enter into agreements with insurance companies or other entities authorized to conduct business in this state.
If the SERS defined benefit plan or a SERS defined contribution plan includes a program described in this section, the board shall adopt rules to administer the program.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.70 | Recovering Erroneous Payments.

Effective:
January 1, 2002
Latest Legislation:
House Bill 535 - 123rd General Assembly
If a person who is a member, former member, contributor, former contributor, retirant, beneficiary, or alternate payee, as defined in section 3105.80 of the Revised Code, is paid any benefit or payment by the school employees retirement system to which the person is not entitled, the benefit shall be repaid to the retirement system by the person. If the person fails to make the repayment, the retirement system shall withhold the amount due from any benefit due the person or the person's beneficiary under this chapter, or may collect the amount in any other manner provided by law.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.74 | Transferring Service Credit and Contributions Between Sers and Cincinnati Retirement System.

Effective:
April 1, 2001
Latest Legislation:
House Bill 535 - 123rd General Assembly
(A) As used in this section and sectoins 3309.75 and 3309.76 of the Revised Code, "military service credit" means credit purchased or obtained under the school employees retirement system or city of Cincinnati retirement system for service in the armed forces of the United States.
(B) Service credit and contributions may be transferred between the school employees retirement system and the Cincinnati retirement system as specified in sections 3309.75 and 3309.76 of the Revised Code if both of the following conditions are met:
(1) The Cincinnati city council and the board of trustees of the Cincinnati retirement system take all actions, including the adoption of any ordinance or resolution, necessary to authorize the transfers.
(2) The school employees retirement system and Cincinnati retirement system, through their boards of trustees, enter into an agreement governing the transfers that is consistent with the requirements of sections 3309.75 and 3309.76 of the Revised Code and includes both of the following:
(a) A provision under which the retirement systems agree to transfer the amounts specified in those sections;
(b) A provision that specifies an amount of credit the system to which the transfer is made will grant for a specific period of service earned under the transferring system.
(C) The amount of credit specified under division (B)(2) of this section may be less than the person earned for a specific period of service under the transferring system.
(D)(1) The school employees retirement system, through its board of trustees, and the Cincinnati retirement system, acting pursuant to the authority granted it by the Cincinnati city council, may do either of the following:
(a) By mutual consent, modify the agreement described in this section;
(b) Rescind the agreement described in this section.
(2) Action taken under division (D)(1) of this section does not affect any transfers made between the systems and grants of credit made by the systems prior to the time action is taken.
(3) Rescinding an agreement as provided in division (D)(1)(b) of this section does not require mutual consent. The retirement system that rescinds the agreement must promptly notify the other.
(E) If either of the conditions specified in division (B) of this section is not met, a member of the school employees retirement system who meets the requirements of section 3309.31 of the Revised Code may purchase credit under division (C) of that section for service in the Cincinnati retirement system.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.80 | Rules for Defined Contribution Plans.

Effective:
April 9, 2001
Latest Legislation:
Senate Bill 270 - 123rd General Assembly
The school employees retirement board shall adopt rules to implement each plan established under section 3309.81 of the Revised Code.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.81 | Establishment and Administration of Defined Contribution Plan.

Effective:
January 7, 2013
Latest Legislation:
Senate Bill 341 - 129th General Assembly
The school employees retirement board may establish one or more plans consisting of benefit options that provide for an individual account for each participating member and under which benefits are based solely on the amounts that have accumulated in the account. The plans may include options under which a member participating in a plan may receive definitely determinable benefits.
Each plan established under this section shall meet the requirements of sections 3309.81 to 3309.98 of the Revised Code and any rules adopted in accordance with section 3309.80 of the Revised Code. It may include life insurance, annuities, variable annuities, regulated investment trusts, pooled investment funds, or other forms of investment.
The board may administer the plans, enter into contracts with other entities to administer the plans, or both.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.811 | Qualification of Plan as Governmental Plan for Federal Tax Purposes.

Effective:
April 9, 2001
Latest Legislation:
Senate Bill 270 - 123rd General Assembly
Each plan established under section 3309.81 of the Revised Code shall qualify as a governmental plan under section 414(d) of the "Internal Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C.A. 414(d), as amended, and meet the requirements of section 401(a) of the "Internal Revenue Code of 1986," 26 U.S.C.A. 401(a), as amended, applicable to governmental plans.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.812 | Qualification of Plan as Retirement System Maintained by a State or Local Government Entity for Federal Tax Purposes.

Effective:
April 9, 2001
Latest Legislation:
Senate Bill 270 - 123rd General Assembly
Each plan established under section 3309.81 of the Revised Code shall meet the requirements necessary to qualify as a retirement system maintained by a state or local government entity under section 3121(b)(7)(F) of the "Internal Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C.A. 3121(b)(7)(F), as amended. Each participant in a plan shall qualify as a member of that system.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.813 | Maintaining Individual Account for Each Participant.

Effective:
April 9, 2001
Latest Legislation:
Senate Bill 270 - 123rd General Assembly
Each plan established under section 3309.81 of the Revised Code shall require the school employees retirement board, or the entity administering the plan pursuant to a contract with the board, to cause an individual account to be maintained for each member participating in the plan. A plan may include deposits to the defined contribution fund created under section 3309.60 of the Revised Code or additional deposits made under section 3309.47 of the Revised Code to the employees' savings fund.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.82 | Application of Chapter to Defined Contribution Plan.

Effective:
March 23, 2015
Latest Legislation:
Senate Bill 42 - 130th General Assembly
(A) Except as provided in division (B) of this section, sections 3309.02, 3309.021, and 3309.022 and sections 3309.18 to 3309.70 of the Revised Code do not apply to a plan established under section 3309.81 of the Revised Code, except that a plan may incorporate provisions of those sections as specified in the plan document.
(B) The following sections of Chapter 3309. of the Revised Code apply to a plan established under section 3309.81 of the Revised Code: sections 3309.19, 3309.21, 3309.22, 3309.23, 3309.24, 3309.25, 3309.251, 3309.252, 3309.253, 3309.28, 3309.29, 3309.341, 3309.3712, 3309.47, 3309.471, 3309.49, 3309.51, 3309.55, 3309.56, 3309.57, 3309.571, 3309.58, 3309.59, 3309.60, 3309.61, 3309.62, 3309.66, 3309.661, 3309.67, 3309.672, 3309.673, 3309.68, and 3309.70 of the Revised Code.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.85 | Contributions of Members.

Effective:
April 9, 2001
Latest Legislation:
Senate Bill 270 - 123rd General Assembly
Each member participating in a plan established under section 3309.81 of the Revised Code shall contribute a per cent of the member's compensation to the school employees retirement system as required in section 3309.47 of the Revised Code. Contributions made under this section shall not exceed the limits established by section 415 of the "Internal Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C.A. 415, as amended.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.86 | Contributions of Employers.

Effective:
April 9, 2001
Latest Legislation:
Senate Bill 270 - 123rd General Assembly
For each member participating in a plan established under section 3309.81 of the Revised Code, the employer shall contribute a per cent of the member's compensation to the school employees retirement system as required in section 3309.49 of the Revised Code.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.87 | Deposit and Crediting of Contributions.

Effective:
April 9, 2001
Latest Legislation:
Senate Bill 270 - 123rd General Assembly
Except as provided in section 3309.88 of the Revised Code, amounts contributed under sections 3309.85 and 3309.86 of the Revised Code, and any earnings on those amounts, shall be deposited and credited in accordance with the plan established under section 3309.81 of the Revised Code that is selected by the member.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.88 | Transfer of Portion of Employer Contribution to Employers' Trust Fund to Mitigate Negative Financial Impact on System.

Effective:
January 7, 2013
Latest Legislation:
Senate Bill 341 - 129th General Assembly
For each member participating in a plan established under section 3309.81 of the Revised Code, the school employees retirement system shall transfer to the employers' trust fund a portion of the employer contribution required under section 3309.49 of the Revised Code. The portion shall equal the percentage of compensation of members for whom the contributions are being made that is determined by an actuary appointed by the school employees retirement board to be necessary to mitigate any negative financial impact on the system of members' participation in a plan.
The board shall have prepared annually an actuarial study to determine whether the percentage transferred under this section should be changed to reflect a change in the level of negative financial impact resulting from members' participation in a plan. The percentage transferred shall be increased or decreased to reflect the amount needed to mitigate the negative financial impact, if any, on the system, as determined by the study. A change shall take effect on the first day of the year following the date the conclusions of the study are reported to the board.
The system shall make the transfer required under this section until the unfunded actuarial accrued liability for all benefits, except health care benefits provided under section 3309.375 or 3309.69 of the Revised Code and benefit increases to members and former members participating in the plan described in sections 3309.18 to 3309.70 of the Revised Code granted after April 9, 2001, is fully amortized, as determined by the annual actuarial valuation prepared under section 3309.21 of the Revised Code.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.91 | Member Rights Governed by Plan Selected.

Effective:
April 9, 2001
Latest Legislation:
Senate Bill 270 - 123rd General Assembly
The right of each member participating in a plan established under section 3309.81 of the Revised Code to a retirement, disability, survivor, or death benefit, to health or long-term care insurance, or to a withdrawal of any amounts that have accumulated on the member's behalf shall be governed exclusively by the plan selected by the member.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.92 | Spousal Consent or Waiver.

Effective:
October 27, 2006
Latest Legislation:
House Bill 98 - 125th General Assembly
If a member participating in a plan established under section 3309.81 of the Revised Code is married at the time benefits under the plan are to commence, before making any payment the school employees retirement system, or the entity administering the plan pursuant to a contract with the school employees retirement board, shall obtain the consent of the member's spouse to the form of payment selected by the member, unless the spouse's consent is waived under this section.
A plan established under section 3309.81 of the Revised Code shall include requirements for consent under this section that are the same as the requirements specified in section 417(a)(2) of the "Internal Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C.A. 417(a)(2), as amended. A plan may waive consent if the spouse cannot be located or for any other reason specified in the regulations adopted under that section.
A plan shall waive the requirement of consent if a plan of payment that provides for payment in a specified portion of the retirement allowance continuing after the member's death to a former spouse is required by a court order issued under section 3105.171 or 3105.65 of the Revised Code or laws of another state regarding division of marital property prior to the effective date of the member's retirement. If a court order requires this plan of payment, the member shall be required to annuitize the member's accumulated amounts in accordance with the order. If the member is married, the plan of payment selected by the member also shall provide for payment to the member's current spouse, unless the current spouse consents in writing to not being designated a beneficiary under the plan of payment or the current spouse's consent is waived by reason other than the court order.
Consent or waiver is effective only with regard to the spouse who is the subject of the consent or waiver.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.95 | Right to Payment or Benefit Vested.

Effective:
July 29, 2011
Latest Legislation:
House Bill 123 - 129th General Assembly
Subject to sections 3309.341, 3309.66, 3309.67, 3309.672, and 3309.673 of the Revised Code, the right of a member participating in a plan established under section 3309.81 of the Revised Code to any payment or benefit accruing from contributions made by or on behalf of the member under sections 3309.85 and 3309.86 of the Revised Code shall vest in accordance with this section.
A member's right to any payment or benefit that is based on the member's contributions is nonforfeitable.
A member's right to any payment or benefit that is based on contributions by the member's employer is nonforfeitable as specified by the plan selected by the member.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.97 | Deposits of Members.

Effective:
April 9, 2001
Latest Legislation:
Senate Bill 270 - 123rd General Assembly
Each plan established under section 3309.81 of the Revised Code shall permit a member participating in the plan to do all of the following:
(A) Maintain on deposit with the school employees retirement system, or the entity administering the plan pursuant to a contract with the school employees retirement board, any amounts that have accumulated on behalf of the member;
(B) If the member has withdrawn the amounts described in division (A) of this section, redeposit with the system or the entity administering the plan the amounts withdrawn;
(C) Make additional deposits as permitted by the "Internal Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C.A. 1, as amended.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.98 | Ceasing Contributions.

Effective:
April 9, 2001
Latest Legislation:
Senate Bill 270 - 123rd General Assembly
Contributions under sections 3309.85 and 3309.86 of the Revised Code shall cease on the member's death or termination of employment or for any other reason specified by the plan selected by the member.
2023 Ohio Revised Code › Title 33 | Education-Libraries › Chapter 3309 | Public School Employees Retirement System › Section 3309.99 | Penalty.

Effective:
September 15, 2004
Latest Legislation:
Senate Bill 133 - 125th General Assembly
(A) Whoever violates division (A) of section 3309.073 of the Revised Code shall be fined not more than one hundred dollars for each day of the violation.
(B) Whoever violates division (B) of section 3309.073 of the Revised Code shall be imprisoned for not more than six months or fined not more than five thousand dollars, or both.
(C) Fines imposed by the Ohio elections commission under this section shall be paid into the Ohio elections commission fund created under section 3513.10 of the Revised Code.