Ohio Administrative Code › Title 3307:1 - Defined Benefit › Chapter 3307:1-6 - Temporary Supplementary Benefit Fund › Section 3307:1-6-01 - Determination of temporary supplementary benefit fund

Current through all regulations passed and filed through July 1, 2024
By authority provided in section
				3307.671
				of the Revised Code, the state teachers retirement board shall establish the
				following rule for determining the amount of the temporary supplementary
				benefit fund, if allocated:
(A) A
			 temporary supplementary benefit will be paid to a person granted and paid a
			 benefit by this system upon meeting the eligibility requirements of section
			 3307.57,
			 3307.58,
			 3307.59,
			 3307.60,
			 3307.63,
			 3307.631,
			 or
			 3307.66
			 of the Revised Code, if during the year in which a payment is awarded the
			 person received twelve monthly benefit payments including that paid for
			 December.
(B) If more than one
			 person is receiving a benefit under section
			 3307.66
			 of the Revised Code from the account of a deceased member the temporary
			 supplementary benefit payable to the account shall be divided into
			 proportionate payments based
			 on the ratio the benefit paid to each benefit recipient who is sharing in
			 the account at the time of payment bears to the total
			 benefit paid on the account. If such division of the temporary
			 supplementary benefit results in a payment of less than twenty-five dollars,
			 the amount shall be increased to twenty-five dollars to each affected
			 recipient.
(C)
								If more than one person is receiving a joint and
			 survivor annuitant benefit under division (A)(4) of section
			 3307.60
			 of the Revised Code, the temporary supplementary benefit payable to the account
			 shall be divided into proportionate payments based on the ratio the benefit
			 paid to each beneficiary bears to the total benefit paid on the account. If
			 such division of the temporary supplementary benefit results in a payment of
			 less than twenty-five dollars, the amount shall be increased to twenty-five
			 dollars to each affected recipient.
(D)
								If the system has
			 retained a division of property order as provided under sections
			 3105.88
			 and
			 3307.371
			 of the Revised Code and rule
			 3307-9-01
			 of the Administrative Code, the temporary supplementary benefit shall be
			 divided as provided in the division of property order.
(E) A
			 retirant who has been re-employed in violation of the restrictions of section
			 3307.35 of
			 the Revised Code during a calendar year is ineligible to receive a temporary
			 supplementary benefit for that year. If a determination of violation of section
			 3307.35 of
			 the Revised Code is made after the payment of a temporary supplementary benefit
			 is paid for the year in which the violation occurred, such benefit shall be
			 repaid or collected along with any other benefits overpaid.
(F)
			 The amount of the temporary supplementary benefit will be determined according
			 to the number of units accumulated by each account, as follows:
(1) One unit is accumulated for each full
			 calendar year that the benefit has been paid from the account.
(a)
										Except as
			 described in paragraph (F)(1)(c) of this rule, the service retirement benefit
			 effective date shall be used to determine the years the benefit has been
			 received when calculating units for benefits paid under section
			 3307.60
			 of the Revised Code to a survivor annuitant of a service retirement
			 benefit.
(b)
										Except as described in paragraph (F)(1)(c) of this
			 rule, the survivor benefit effective date shall be used to determine the years
			 the benefit has been received when calculating units for benefits paid under
			 section
			 3307.66
			 of the Revised Code.
(c)
										The disability benefit effective date shall be used to
			 determine the years the benefit has been received when calculating units for a
			 recipient who moves from a disability benefit under section
			 3307.63
			 or
			 3307.631
			 of the Revised Code to either a benefit paid under section
			 3307.60
			 of the Revised Code or a benefit paid under section
			 3307.66
			 of the Revised Code without a break in benefits.