reglab/statecodes huggingface dataset:
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.20 | Elective Officials May Become Members of System - Credit for Prior Service.

Effective:
January 7, 2013
Latest Legislation:
Senate Bill 343 - 129th General Assembly
(A) Any elective official of the state of Ohio or of any political subdivision thereof having employees in the public employees retirement system shall be considered as an employee of the state or such political subdivision, and may become a member of the system upon application to the public employees retirement board, with all the rights, privileges, and obligations of membership. An elective official who becomes a member of the system on or after January 1, 2003, shall make an election pursuant to section 145.19 of the Revised Code not later than one hundred eighty days after applying for membership in the system. The election is effective as of the date the official applies for membership and is irrevocable on receipt by the system. If a form evidencing an election is not received by the system not later than the last day of the one-hundred-eighty-day period, the official is deemed to have elected to participate in the PERS defined benefit plan.
(B) Credit for service between January 1, 1935, and the date that membership is established, except service as an elective official that was subject to the tax on wages imposed by the "Federal Insurance Contributions Act," 68A Stat. 415 (1954), 26 U.S.C.A. 3101, as amended, may be secured by the elective official provided the elective official does all of the following:
(1) Pays into the employees' savings fund an amount specified by the board that is equal to one hundred per cent of the additional liability resulting from the purchase of that year or portion of a year of credit as determined by an actuary employed by the board;
(2) Completes one and one-half years of contributing membership in the public employees retirement system subsequent to the date membership was established;
(3) Participates in the PERS defined benefit plan or a PERS defined contribution plan with definitely determinable benefits.
A member may choose to purchase in any one payment only part of the credit the member is eligible to purchase, subject to board rules. The public employees retirement board shall determine the amount and manner of payment. In the event of death or withdrawal from service, the payment into the employees' savings fund for such service credit shall be considered as accumulated contributions of the member.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.21 | Individual Accounts for Each Member - Mortality Tables.

Effective:
September 21, 2000
Latest Legislation:
House Bill 628 - 123rd General Assembly
The public employees retirement board shall provide for the maintenance of an individual account with each contributor showing the amount of the contributor's contributions and the interest accumulations thereon. It shall collect and keep in convenient form such data as is necessary for the preparation of the required mortality and service tables, and for an actuarial valuation of the assets and liabilities of the various funds created by this chapter. Upon the basis of the mortality and service experience of the members, contributors, retirants, and beneficiaries of the public employees retirement system, the board shall adopt from time to time such tables as are deemed necessary for valuation purposes and for determining the amount of annuities to be allowed on the basis of the contributions.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.221 | Amortizing Unfunded Actuarial Accrued Pension Liability.

Effective:
March 7, 1997
Latest Legislation:
Senate Bill 82 - 121st General Assembly
The public employees retirement board shall establish a period of not more than thirty years to amortize the public employees retirement system's unfunded actuarial accrued pension liability. If in any year the period necessary to amortize the unfunded actuarial accrued pension liability exceeds thirty years, as determined by the annual actuarial valuation required by section 145.22 of the Revised Code, the board, not later than ninety days after receipt of the valuation, shall prepare and submit to the Ohio retirement study commission and the standing committees of the house of representatives and the senate with primary responsibility for retirement legislation a report that includes the following information:
(A) The number of years needed to amortize the unfunded actuarial accrued pension liability as determined by the annual actuarial valuation;
(B) A plan approved by the board that indicates how the board will reduce the amortization period of unfunded actuarial accrued pension liability to not more than thirty years.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.24 | Inequality of Contributions by Employer.

Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
Should any employer fail to contribute to the employers' accumulation fund on a basis equal to that on which other employers are contributing, the public employees retirement board shall hold all contributions from such employer in a separate fund as long as the inequality of contributions continues. During that period no funds contributed by any other employers shall be used to pay benefits to persons who were employees of such employer at the time of retirement.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.25 | Each Fund Is Separate Legal Entity.

Effective:
September 21, 2000
Latest Legislation:
House Bill 628 - 123rd General Assembly
When reference is made in this chapter, to the employees' savings fund, the employers' accumulation fund, the annuity and pension reserve fund, the income fund, the survivors' benefit fund, the defined contribution fund, or the expense fund, such reference is 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 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.26 | Treasurer of State Custodian of Funds.

Effective:
September 21, 2000
Latest Legislation:
House Bill 628 - 123rd General Assembly
The treasurer of state shall be the custodian of the funds of the public employees retirement system, and all disbursements therefrom shall be paid by the treasurer of state only upon instruments authorized by the public employees retirement board and bearing the signatures of the board; provided, that such instruments may bear the names of the board members printed thereon and the signatures of the chairperson, or of the vice-chairperson in case of the absence or disability of the chairperson, and of the executive director of the board. The signatures of the chairperson and of the executive director may be affixed through the use of a mechanical check-signing device.
The treasurer of state shall give a separate and additional bond in such amount as is fixed by the governor and with sureties selected by the board and approved by the governor, conditioned for the faithful performance of the duties of the treasurer of state as custodian of the funds of the system. Such bond shall be deposited with the secretary of state and kept in the office. The governor may require the treasurer of state to give other and additional bonds, as the funds of the system increase, in such amounts and at such times as may be fixed by the governor, which additional bonds shall be conditioned, filed, and obtained as is provided for the original bond of the treasurer of state covering the funds of the system. The premium on all bonds shall be paid by the board.
The treasurer of state shall deposit any portion of the funds of the system not needed for immediate use in the same manner as state funds are deposited, and subject to all laws with respect to the deposit of state funds, by the treasurer of state, and all interest earned by such portion of the retirement funds as is deposited by the treasurer of state shall be collected by the treasurer of state and placed to the credit of the board.
The treasurer of state shall furnish annually to the board a sworn statement of the amount of the funds in the treasurer of state's custody belonging to the system.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.28 | Purchase of Service Credit for Period of Self-Exemption.

Effective:
March 23, 2015
Latest Legislation:
Senate Bill 42 - 130th General Assembly
(A) As used in this section, "paying system" and "transferring system" have the same meanings as in section 145.37 of the Revised Code.
(B)(1) Except as provided in division (B)(2) of this section, a member of the public employees retirement system with at least eighteen months of contributing service in the system, the state teachers retirement system, or the school employees retirement system who exempted self from membership in one or more of the systems pursuant to section 145.03 or 3309.23 of the Revised Code, or former section 3307.25 or 3309.25 of the Revised Code, or was exempt under section 3307.24 of the Revised Code, may purchase credit for each year or portion of a year of service for which the member was exempted.
(2) A member may not purchase credit under this section for exempted service if the service was exempted from contribution under section 145.03 of the Revised Code and subject to the tax on wages imposed by the "Federal Insurance Contributions Act," 68A Stat. 415 (1954), 26 U.S.C.A. 3101, as amended.
(C) Credit shall be purchased under this section in accordance with section 145.29 of the Revised Code.
(D) Credit purchasable under this section shall not exceed one year of service for any twelve-month period. If the period of service for which credit is purchasable under this section is concurrent with a period of service that will be used to calculate a retirement benefit from this system, the state teachers retirement system, or school employees retirement system, the amount of the credit shall be adjusted in accordance with rules adopted by the public employees retirement board.
A member who is also a member of the state teachers retirement system or the school employees retirement system shall purchase credit for any service for which the member exempted self under section 145.03 or 3309.23 of the Revised Code, or former section 3307.25 or 3309.25 of the Revised Code, or was exempt under section 3307.24 of the Revised Code, from the retirement system in which the member has the greatest number of years of service credit. If the member receives benefits under section 145.37 of the Revised Code, the system that is the paying system under that section shall receive from the system or systems that are transferring systems the amounts paid by the member for purchase of credit for exempt service plus interest at the actuarial assumption rate of the transferring system. The interest shall be for the period beginning on the date of the member's last payment for purchase of the credit and ending on the date of the member's retirement.
(E) The retirement board shall adopt rules to implement this section.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.29 | Procedure for Purchasing Credit.

Effective:
March 23, 2015
Latest Legislation:
Senate Bill 42 - 130th General Assembly
(A) A member of the public employees retirement system who elects to purchase or otherwise obtain service credit under section 145.28, 145.291, 145.292, 145.293, or 145.299 or division (G) of section 145.47 of the Revised Code shall do both of the following:
(1) Submit a request to the public employees retirement board in a manner or form approved by the board;
(2) For each year, or portion of a year, of credit purchased or otherwise obtained, pay to the employees' savings fund an amount specified by the board that is equal to one hundred per cent of the additional liability resulting from purchasing or obtaining that year or portion of a year of credit as determined by an actuary employed by the board.
(B) Subject to board rules, a member may choose to purchase or otherwise obtain in any one payment only part of any service credit listed in division (A) of this section.
(C) If a member dies or withdraws from service, any payment made by the member to purchase or obtain any service credit listed in division (A) of this section shall be considered as accumulated contributions of the member.
Last updated May 6, 2021 at 2:00 PM
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.291 | Purchasing Service Credit for Time Spent on Pregnancy or Adoption.

Effective:
January 7, 2013
Latest Legislation:
Senate Bill 343 - 129th General Assembly
Any member of the public employees retirement system who subsequent to January 1, 1935, and the date membership was established was off the payroll either on a leave of absence approved by the then appointing authority or because the member resigned due to pregnancy or adoption of a child may purchase service credit for the period of absence or resignation, provided that subsequent to such leave of absence or resignation the member returned to regular contributing status in the retirement system for at least twelve calendar months. In the case of resignation, the member must submit evidence satisfactory to the retirement board documenting that the resignation was due to pregnancy or adoption of a child.
Credit shall be purchased under this section in accordance with section 145.29 of the Revised Code, except that service credit purchased under this section shall not exceed one year.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.292 | Credit for Prior Service.

Effective:
January 7, 2013
Latest Legislation:
Senate Bill 343 - 129th General Assembly
Credit for service between January 1, 1935, and the date of becoming a member of the public employees retirement system except a part-time employee who claimed exemption under the provisions of section 145.03 of the Revised Code, may be purchased by any public employee for service rendered an employer. Credit shall be purchased under this section in accordance with section 145.29 of the Revised Code.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.293 | Credit for Prior Service - Comparable Public Position.

Effective:
January 7, 2013
Latest Legislation:
Senate Bill 343 - 129th General Assembly
(A) Service credit may be purchased under this section for the following:
(1) Service rendered in another state, and service in any entity operated by the United States government, that, if served in a comparable position in Ohio, would be covered by the public employees retirement system, Ohio police and fire pension fund, state teachers retirement system, school employees retirement system, or state highway patrol retirement system;
(2) Service for which contributions were made by the member or on the member's behalf to a municipal retirement system in this state, except that if the conditions specified in section 145.2910 of the Revised Code are met, service credit for this service may be purchased only in accordance with section 145.2911 of the Revised Code.
The number of years purchased under this section shall not exceed the lesser of five years or the member's total accumulated number of years of Ohio service.
(B) Credit shall be purchased under this section in accordance with section 145.29 of the Revised Code.
(C) A member is ineligible to purchase under this section credit for service under former section 145.44 of the Revised Code or service that is used in the calculation of any retirement benefit currently being paid or payable in the future to the member under any other retirement program except social security. At the time the credit is purchased the member shall certify on a form furnished by the retirement board that the member does and will conform to this requirement.
(D) Credit purchased under this section may be combined pursuant to section 145.37 with credit purchased under sections 3307.74 and 3309.31 of the Revised Code, except that not more than an aggregate total of five years' service credit purchased under this section and sections 3307.74 and 3309.31 of the Revised Code shall be used in determining retirement eligibility or calculating benefits under section 145.37 of the Revised Code.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.296 | Contributions During Disability Leave.

Effective:
June 30, 1991
Latest Legislation:
House Bill 382 - 119th General Assembly
Except as otherwise provided in section 124.385 of the Revised Code, any contributor who is granted disability leave pursuant to a program sponsored by his employer, whereby the contributor receives a percentage of his salary while on disability leave, shall not be required to make contributions for time off while on disability leave.
Except as otherwise provided in section 124.385 of the Revised Code, each employer who sponsors a disability leave program shall make the periodic employer and employee contributions, in the amounts set pursuant to sections 145.47 and 145.48 of the Revised Code, for contributors granted disability leave, based on the contributor's earnable salary in effect at the time disability leave was granted.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.299 | Purchasing Credit for Service as School Board Member.

Effective:
January 7, 2013
Latest Legislation:
Senate Bill 343 - 129th General Assembly
(A) As used in this section, "school board member" means a member of a city, local, exempted village, or joint vocational school district board of education and "governing board member" means a member of an educational service center governing board.
(B) A member of the public employees retirement system may purchase credit for service as a school board member if all of the following conditions are met:
(1) The member is eligible to retire under this chapter or will become eligible to retire as a result of purchasing the credit.
(2) The member agrees to retire within ninety days after receiving notice of the additional liability under section 145.29 of the Revised Code.
(3) The retirement system receives certification of the member's service and compensation as a school board or governing board member from the board of education or governing board of the district or educational service center in which the member served or, if that district or educational service center no longer exists, the board or governing board that controls the territory, or the largest part of the territory, of the district or educational service center in which the member served.
(C) Credit shall be purchased under this section in accordance with section 145.29 of the Revised Code, except that payment for the credit or portion of credit shall be paid in full at the time of purchase.
(D) The retirement system shall calculate the amount of credit the member is eligible to purchase by dividing the compensation received pursuant to section 3313.12 of the Revised Code for each month served as a school board or governing board member by the amount of compensation that, for the same month, the retirement system considered equivalent to full-time service.
(E) Credit may be purchased for service as a school board or governing board member, other than service subject to the tax on wages imposed by the "Federal Insurance Contributions Act," 68A Stat. 415 (1954), 26 U.S.C.A. 3101, as amended, between January 1, 1935, and the first day of January of the year in which the credit is purchased. A member may purchase not more than one-twelfth of a year's credit for each month of service as a school board or governing board member.
(F) The public employees retirement board shall adopt rules in accordance with section 111.15 of the Revised Code concerning the purchase of credit under this section. In addition to any other matters considered relevant by the retirement board, the rules shall specify the procedure to be followed by a member to inform the system of the member's desire to purchase credit for service as a school board or governing board member.
(G) If the member does not retire within ninety days after purchasing credit under this section, the system shall withdraw the credit and refund the amount paid by the member.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.2910 | Transferring Service Credit and Contributions Between Pers and Cincinnati Retirement System.

Effective:
April 1, 2001
Latest Legislation:
House Bill 535 - 123rd General Assembly
(A) As used in this section and sections 145.2911 and 145.2912 of the Revised Code, "military service credit" means service credit purchased or obtained under the public 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 public employees retirement system and the city of Cincinnati retirement system as specified in sections 145.2911 and 145.2912 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 public 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 145.2911 and 145.2912 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 public 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) Any 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 public employees retirement system who meets the requirements of section 145.293 of the Revised Code may purchase credit under division (A)(2) of that section for service in the Cincinnati retirement system.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.2916 | Credit for Salary Increases for Elected Officials.

Effective:
January 7, 2013
Latest Legislation:
Senate Bill 343 - 129th General Assembly
(A) When a member has been elected or appointed to an office, the term of which is two or more years, for which an annual salary is established, and in the event that the salary of the office is increased and the member is denied the additional salary by reason of any constitutional provision prohibiting an increase in salary during a term of office, the member may elect to have the amount of the member's and employer's contributions calculated upon the basis of the increased salary for the office.
At the member's request and on notification to the public employees retirement system, the public employees retirement board shall compute the total additional amount the member and employer would have contributed, or the amount by which each of the member's and employer's contributions would have increased, had the member received the increased salary for the office the member holds. If the member elects to have the combined amount by which the member's and employer's contribution would have increased withheld from the member's salary, the member shall notify the employer, and the employer shall make the withholding commensurate with the period of denied salary and transmit it to the retirement system. The payment of the amount by which the employer's contribution would have increased shall be credited to the employers' accumulation fund.
If the payment of the increased contributions is made in accordance with this section, the increased annual salary as provided by law for the office for the period for which the member paid increased contributions thereon shall be used in determining the member's earnable salary for the purpose of computing the member's final average salary.
(B) If a member dies or withdraws from service, the payment under division (A) of this section shall be considered as accumulated contributions of the member.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.311 | Payroll Deduction Plans - Restoring Sers or Sters Credit.

Effective:
March 23, 2015
Latest Legislation:
Senate Bill 42 - 130th General Assembly
(A) A member of the public employees retirement system who has at least eighteen months of contributing service credit in the system, the Ohio police and fire pension fund, school employees retirement system, state teachers retirement system, or state highway patrol retirement system, and is a former member of or no longer contributing to the school employees retirement system or state teachers retirement system may restore service credit under section 3307.71 or 3309.26 of the Revised Code by making payments pursuant to this section through a payroll deduction plan established under section 145.294 of the Revised Code. A member seeking to restore this service credit shall notify the public employees retirement system on a form approved by the public employees retirement board. After receiving the notice, the public employees retirement system shall request that the former retirement system calculate under section 3307.712 or 3309.262 of the Revised Code the cost to the member to restore service credit for each year or portion of a year of service for which the member seeks to restore the service credit. The amount the former retirement system certifies as the cost of restoring the service credit, plus interest described in division (B) of this section, is the cost to the member of restoring the service credit. On receiving the certification from the former retirement system, the public employees retirement system shall notify the member of the cost.
(B) For each year or portion of a year of service credit restored under section 3307.71 or 3309.26 of the Revised Code, a member shall pay to the public employees retirement system the amount certified by the former retirement system plus interest at a rate specified by the former retirement system under section 3307.712 or 3309.262 of the Revised Code for the period during which deductions are made under section 145.294 of the Revised Code.
(C) The public employees retirement board shall at least annually transmit to the former retirement system notice and any payments made to restore service credit under section 3307.71 or 3309.26 of the Revised Code. The former retirement system shall restore the service credit for the year or portion of a year for which the payment was made.
(D) The board shall adopt rules to implement this section.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.312 | Proceedings on Request for Restoration of Service Credit.

Effective:
July 13, 2000
Latest Legislation:
Senate Bill 190 - 123rd General Assembly
After receiving a request from the state teachers retirement system under division (A) of section 3307.711 or the school employees retirement system under division (A) of section 3309.261 of the Revised Code, the public employees retirement system shall do both of the following:
(A) Calculate and certify to the requesting retirement system the cost to a former member to restore service credit under section 145.31 of the Revised Code for each year or portion of a year for which the former member seeks to restore service credit under that section.
(B) Inform the requesting retirement system of the rate of interest charged to a member under a payroll deduction plan authorized under section 145.294 of the Revised Code.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.331 | Disability Allowance Recipient Applying for Service Retirement.

Effective:
October 3, 2023
Latest Legislation:
House Bill 33 - 135th General Assembly
(A) A recipient of a disability allowance under section 145.361 of the Revised Code who is subject to division (C)(3) of that section may make application for age and service retirement under this section. Retirement shall be effective on the first day of the first month following the last day for which the disability allowance is paid.
(B) The annual allowance payable under this section shall consist of the sum of the amounts determined under divisions (B)(1) and (2) of this section:
(1) The greater of the following:
(a) An allowance calculated as provided in section 145.33, 145.332, or 145.335 of the Revised Code, excluding any period during which the applicant received a disability benefit under section 145.361 of the Revised Code;
(b) An allowance calculated by multiplying the applicant's total service credit, including service credit for the last continuous period during which the applicant received a disability benefit under section 145.361 of the Revised Code, by two and two-tenths per cent of the applicant's final average salary, except that the allowance shall not exceed forty-five per cent of the applicant's final average salary.
(2) An amount equal to the additional allowance the recipient would receive under section 145.323 of the Revised Code, plus any other additional amount the recipient would receive under this chapter, had the recipient retired under section 145.33, 145.332, or 145.335 of the Revised Code effective on the effective date of the recipient's most recent continuous period of receipt of a disability benefit under section 145.361 of the Revised Code.
(C) The allowance calculated under division (B) of this section, exclusive of any amount added under division (B)(2) of this section based on section 145.323 of the Revised Code, shall be the base for all future additional allowances under section 145.323 of the Revised Code.
The anniversary date for future additional allowances under section 145.323 of the Revised Code shall be the effective date of the recipient's most recent continuous period of receipt of a disability benefit under section 145.361 of the Revised Code.
(D) The retirement allowance determined under this section shall be paid as provided in section 145.46 of the Revised Code.
Last updated August 15, 2023 at 1:38 PM
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.333 | Contribution Based Benefit Cap.

Effective:
October 3, 2023
Latest Legislation:
House Bill 33 - 135th General Assembly
(A) As used in this section:
(1) "Retirement allowance" means any of the following as appropriate:
(a) An allowance calculated under section 145.33, 145.332, or 145.335 of the Revised Code prior to any reduction for early retirement or election under section 145.46 of the Revised Code of a plan of payment and exclusive of any amounts payable under divisions (I)(2)(b) and (c) or (I)(3)(b) and (c) of section 145.332 of the Revised Code;
(b) An allowance calculated under division (A) of section 145.45 of the Revised Code;
(c) An allowance calculated under division (B)(1)(a) of section 145.331 of the Revised Code.
(2) "CBBC" means the contribution based benefit cap, a limit established by the public employees retirement board on the retirement allowance a member may receive.
(B) Based on the advice of an actuary appointed by the board, the board shall designate a number as the CBBC factor. The board may revise the factor pursuant to advice from an actuary appointed by the board.
(C) Prior to paying a retirement allowance, the public employees retirement system shall make the following calculations:
(1) Determine an amount equal to the value of the member's accumulated contributions, exclusive of contributions payable under divisions (I)(2)(b) and (c) or (I)(3)(b) and (c) of section 145.332 of the Revised Code but including any contributions made under section 145.483 of the Revised Code that represent member contributions, any contributions used to fund a benefit under section 145.36 of the Revised Code, with interest compounded at a rate approved by the board, and a portion of any amounts paid by an employer under sections 145.297 or 145.298 of the Revised Code, as determined by an actuary appointed by the board;
(2) Determine the amount of a single life annuity that is the actuarial equivalent of the amount determined under division (C)(1) of this section, adjusted for age of the member at the time of retirement or, when appropriate, the age at the time of the member's death;
(3) Multiply the annuity amount determined under division (C)(2) of this section by the CBBC factor.
(D) The amount determined under division (C)(3) of this section is the member's CBBC. Except as provided in division (E) of this section, if the retirement allowance the member would receive exceeds the member's CBBC, the allowance shall be reduced to an amount equal to the member's CBBC.
(E) The retirement allowance of a member eligible for age and service retirement under division (A) of section 145.32 of the Revised Code or division (A) of section 145.332 of the Revised Code shall not be reduced under division (D) of this section by more than five per cent of the member's single lifetime allowance computed under section 145.33 or 145.332 of the Revised Code, unless during any full month of service earned after January 1, 1987, the member's earnable salary was less than one thousand dollars.
Last updated August 15, 2023 at 1:42 PM
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.334 | Election as Pers Law Enforcement Officer or Public Safety Officer.

Effective:
April 6, 2017
Latest Legislation:
House Bill 520 - 131st General Assembly
A member who, on the effective date of this section , meets the definition of bureau of criminal identification and investigation investigator, gaming agent, department of taxation investigator, special police officer for a port authority, or special police officer for a municipal airport in section 145.01 of the Revised Code may make the election to be considered a PERS law enforcement officer or PERS public safety officer by giving notice to the public employees retirement system on a form provided by the public employees retirement board. To be valid, the notice must be received by the retirement system not later than ninety days after the effective date of this section . The election, once made, causes the member to be considered a PERS law enforcement officer or PERS public safety officer and is irrevocable.
Service credit earned by a member of the public employees retirement system before the first day of the first month following the retirement system's receipt of the notice of election shall not be considered service credit as 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 145.351 | Annual Report Disability Retirement Experience of Each Employer.

Effective:
April 6, 2007
Latest Legislation:
House Bill 272 - 126th General Assembly
Not later than March 1, 2000, and each first day of March thereafter, the public employees retirement board shall make and submit a report for the preceding fiscal year of the disability retirement experience of each employer. The report shall specify the total number of disability applications submitted, the status of each application as of the last day of the fiscal year, total applications granted or denied, and the percentage of disability benefit recipients to the total number of the employer's employees who are members of the public employees retirement system. The report shall be submitted to the governor, the Ohio retirement study council, and the chairpersons of the standing committees and subcommittees of the senate and house of representatives with primary responsibility for retirement legislation.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.36 | Benefits Upon Disability Retirement.

Effective:
January 7, 2013
Latest Legislation:
Senate Bill 343 - 129th General Assembly
A member who has elected disability coverage under this section, has not attained the applicable age, and is determined by the public employees retirement board under section 145.35 of the Revised Code to qualify for a disability benefit shall be retired on disability under this section.
The applicable age is sixty if the member is described in division (A) or (B) of section 145.32 or division (A), (B), or (E)(1), (3), or (4) of section 145.332 of the Revised Code. It is sixty-two if the member is described in division (C) of section 145.32 or division (E)(2) or (5) of section 145.332 of the Revised Code.
Upon disability retirement, a member shall receive an annual amount that shall consist of:
(A) An annuity having a reserve equal to the amount of the retirant's accumulated contributions;
(B) A pension that shall be the difference between the member's annuity and an annual amount determined by multiplying the total service credit of the retirant, and in addition thereto the projected number of years and fractions thereof between the effective date of the member's disability retirement and attainment of the applicable age, assuming continuous service, by two and two-tenths per cent of the member's final average salary.
Where the recipient is not receiving a disability benefit under section 145.37 of the Revised Code and is receiving a disability benefit from either the state teachers retirement system or the school employees retirement system, the recipient shall not be eligible for service credit based upon the number of years and fractions thereof between the date of disability and attained age sixty as provided for in this division.
In no case shall disability retirement be less than thirty per cent or more than seventy-five per cent of the member's final average salary, except that it shall not exceed any limit to which the retirement system is subject under section 415 of the "Internal Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C.A. 415, as amended.
A year of service for the purpose of disability retirement is a complete year of full-time employment, or the equivalent thereof. The public employees retirement board is the final authority in determining the eligibility of a member for disability retirement.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.361 | Annual Amount of Disability Allowance.

Effective:
October 3, 2023
Latest Legislation:
House Bill 33 - 135th General Assembly
(A) A member with disability coverage under this section who is determined by the public employees retirement board under section 145.35 of the Revised Code to qualify for a disability benefit shall receive a disability allowance under this section. The allowance shall be an annual amount equal to the greater of the following:
(1) Forty-five per cent of the member's final average salary;
(2) The member's total service credit multiplied by two and two-tenths per cent of the member's final average salary, not exceeding sixty per cent of the member's final average salary.
(B) Sufficient reserves for payment of the disability allowance shall be transferred to the annuity and pension reserve fund from the employers' contribution fund. The accumulated contributions of the member shall remain in the employees' savings fund. No part of the allowance paid under this section shall be charged against the member's accumulated contributions.
(C) A disability allowance paid under this section shall terminate at the earliest of the following:
(1) The effective date of age and service retirement under sections 145.32, 145.33, 145.332, and 145.335, or section 145.37 or former section 145.34 of the Revised Code;
(2) The date the allowance is terminated under section 145.362 of the Revised Code;
(3) The later of the last day of the month in which the recipient attains the applicable age, or the last day of the month in which the benefit period ends as follows:
Attained Age at Effective Date of Disability Allowance
Benefit Period
60 or 61
60 months
62 or 63
48 months
64 or 65
36 months
66, 67, or 68
24 months
69 or older
12 months
The applicable age is sixty-five if the member is described in division (A) of section 145.32 or division (A) of section 145.332 of the Revised Code. It is sixty-six if the member is described in division (B) of section 145.32 or division (B) of section 145.332 of the Revised Code. It is sixty-seven if the member is described in division (C) of section 145.32 or division (C) of section 145.332 of the Revised Code.
Last updated September 18, 2023 at 10:14 AM
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.381 | Re-Employing Retirant.

Effective:
September 26, 2003
Latest Legislation:
House Bill 95 - 125th General Assembly
(A) This section applies in the case of a person who is or most recently has been employed by a public employer in a position that is customarily filled by a vote of members of a board or commission or by the legislative authority of a county, municipal corporation, or township.
(B) A board, commission, or legislative authority that proposes to continue the employment as a reemployed retirant or rehire as a reemployed retirant to the same position an individual described in division (A) of this section shall do both of the following in accordance with rules adopted under division (C) of this section:
(1) Not less than sixty days before the employment as a reemployed retirant is to begin, give public notice that the person is or will be retired and is seeking employment with the public employer;
(2) Between fifteen and thirty days before the employment as a reemployed retirant is to begin and after complying with division (B)(1) of this section, hold a public meeting on the issue of the person being employed by the public employer.
The notice regarding division (B)(1) of this section shall include the time, date, and location at which the public meeting is to take place.
(C) The public employees retirement board shall adopt rules as necessary to implement this section.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.382 | Employment of Certain Retirants Notwithstanding Restrictions.

Effective:
July 29, 1992
Latest Legislation:
Senate Bill 346 - 119th General Assembly
(A) A former member receiving an age and service retirement allowance from the public employees retirement system, and hereafter referred to as a retirant, may be employed, notwithstanding sections 145.38 and 145.46 of the Revised Code, if his later employment has been in a position described in any of the following categories:
(1) A position authorized by section 101.31, 121.03, or 121.04 of the Revised Code;
(2) A position to which appointment is made by the governor with the advice and consent of the senate;
(3) The head of a division of a state department.
A retirant employed in such a category is entitled to a retirement allowance based on his total contributions and service credit accrued during all service as a public employee.
(B) Upon his later retirement, the retirant may elect to receive retirement benefits based upon his original service and his service after re-entering public service by selecting any of the optional benefit plans specified in section 145.46 of the Revised Code.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.385 | Reemployed Retirant Electing to Resume Retirement Allowance.

Effective:
April 11, 2005
Latest Legislation:
House Bill 449 - 125th General Assembly
(A) A PERS retirant who made an election under former section 145.381 of the Revised Code under which the annuity portion of the retirant's retirement allowance was suspended and the pension portion forfeited may have the entire retirement allowance resume by giving notice to the public employees retirement system. The notice must be given not later than ninety days after October 1, 2002.
(B) The retirement allowance shall resume on the first day of the month following receipt of notice by the retirement system.
(C) The annuity portion of the retirement allowance that has accumulated to the retirant's credit shall be paid as a single payment on the first day of the month following receipt of notice by the retirement system.
(D) Contributions made by the retirant and employer during the period of forfeiture and contributions made after the retirement allowance resumes shall be left on deposit with the system and, except in the case of a retirant who elects, under division (H) of section 145.384 of the Revised Code, to receive a payment of the retirant contributions, shall be used in the calculation of a benefit under section 145.384 of the Revised Code.
2023 Ohio Revised Code › Title 1 | State Government › Chapter 145 | Public Employees Retirement System › Section 145.39 | Increasing Pension, Benefit, or Allowance When Limits of 26 Usc 415 Are Raised.

Effective:
October 3, 2023
Latest Legislation:
House Bill 33 - 135th General Assembly
Whenever the limits established by section 415 of the "Internal Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C.A. 415, as amended, are raised, the public employees retirement board shall increase the amount of the pension, benefit, or allowance of any person whose pension, benefit, or allowance payable under section 145.323, 145.33, 145.331, 145.332, 145.335, 145.36, or 145.361 or former section 145.34 of the Revised Code was limited by the application of section 415. The amount of the increased pension, benefit, or allowance shall not exceed the lesser of the amount the person would have received if the limits established by section 415 had not been applied or the amount the person is eligible to receive subject to the new limits established by section 415.
Last updated September 18, 2023 at 10:15 AM