reglab/statecodes huggingface dataset:
Ohio Administrative Code › Title 3307:1 - Defined Benefit › Chapter 3307:1-11 - Health Care Services › Section 3307:1-11-07 - Health care services - ancillary plans

Current through all regulations passed and filed through July 1, 2024
(A)
								General
			 provisions
(1)
									Eligibility for enrollment in an ancillary plan is the same
			 as eligibility for enrollment in a medical plan except as otherwise provided in
			 this rule.
(2)
									Enrollment in an ancillary plan is the same as
			 enrollment in a medical plan except as otherwise provided in this
			 rule.
(3)
									The retirement board will not provide a subsidy for any
			 portion of the monthly premium for enrollment in any ancillary
			 plan.
Ohio Administrative Code › Title 3307:1 - Defined Benefit › Chapter 3307:1-11 - Health Care Services › Section 3307:1-11-08 - Health care services - disclosure

Current through all regulations passed and filed through July 1, 2024
(A)
								Health
			 information
(1)
									By applying for and accepting coverage in the health care
			 program each participating benefit recipient, on behalf of herself or himself
			 and each of his or her dependents covered under the health care program,
			 acknowledges and agrees that the health care program may use or disclose all
			 individually identifiable health information (as defined at
			 45
			 C.F.R. 160.103 (2000), as amended) pertaining
			 to such participating benefit recipient, or dependent in the health care
			 program for the payment (as defined at
			 45
			 C.F.R. 164.501 ) and health care operations
			 (as defined at
			 45
			 C.F.R. 164.501 ) purposes of the health care
			 program and otherwise use or disclose such individually identifiable health
			 information as permitted by and under the Standards for Privacy of Individually
			 Identifiable Health Information, 45 C.F.R. 160 and 164.
(2)
									The health care
			 program, acting through the retirement board, shall require each person and/or
			 organization who as to the health care program constitutes a business associate
			 (as defined at
			 45
			 C.F.R. 160.103 ) of the health care program
			 to maintain the confidentiality of individually identifiable health information
			 that it creates, maintains or receives on behalf of or from the health care
			 program and to enter into a written agreement with the health care program
			 which meets that standard for business associate contracts as specified at
			 45 C.F.R.
			 164.504(e). Individually
			 identifiable health information that meets the requirements for identification
			 of health information, as specified in 45 C.F.R. 164 may be used without
			 limitation by the health care program and shall be and shall remain the
			 property of the retirement system.
Ohio Administrative Code › Title 3307:1 - Defined Benefit › Chapter 3307:1-11 - Health Care Services › Section 3307:1-11-09 - Health care services - long-term care insurance

Current through all regulations passed and filed through July 1, 2024
(A) Teachers or benefit recipients and
			 eligible dependents may make application for longterm care insurance offered
			 pursuant to section
			 3307.391
			 of the Revised Code until September 30, 2018, provided:
(1) Application for long-term care insurance
			 shall be made directly to the insurer during enrollment periods specified by
			 the retirement system;
(2)
			 Determination of eligibility for long-term care insurance shall be made by the
			 insurer; and
(3) Payment for
			 long-term care insurance shall be made by the teacher or benefit recipient
			 directly to the insurer in such amounts and by such methods directed by the
			 insurer.
Ohio Administrative Code › Title 3307:1 - Defined Benefit › Chapter 3307:1-12 - Distributions › Section 3307:1-12-01 - Distributions

Current through all regulations passed and filed through July 1, 2024
(A) Notwithstanding
			 any provision in Chapter 3307. of the Revised Code or in the rules governing
			 the  retirement system to the
			 contrary, distributions to members and beneficiaries shall be made in
			 accordance with section 401(a)(9) of the "Internal Revenue Code of 1986," 100
			 Stat. 2085, 26 U.S.C.
			 401, as amended, and applicable regulations
			 thereunder and with the following rules.
(1)
			 The entire interest of a member shall be distributed to such member:
(a) Not later than the required beginning
			 date; or
(b) Beginning not later
			 than the required beginning date, in accordance with applicable regulations,
			 over the life of such member or the lives of such member and a designated
			 beneficiary (or over a period not extending beyond the life expectancy of such
			 member) within the meaning of section
			 401(a)(9) of the
			 Internal Revenue Code.
Ohio Administrative Code › Title 3307:1 - Defined Benefit › Chapter 3307:1-12 - Distributions › Section 3307:1-12-02 - Maximum permissible benefits

Current through all regulations passed and filed through July 1, 2024
Applicability of the final 415 regulations effective beginning
				on the limitation year commencing on January 1, 2008.
(A) In general. The final regulations for
			 section 415 of the "Internal Revenue Code of 1986," 100 Stat. 2085,
			 26 U.S.C.
			 401, as amended ("final regulations") were
			 made applicable to distributions to members and beneficiaries as of January 1,
			 2008. As of June 7, 2019, the final regulations
			 are incorporated by reference.
(B)
			 Pursuant to section 3307.58 of the Revised Code and
			 section 415 of the Internal Revenue Code,
			 the maximum annual benefit distributed to a member or beneficiary under the
			 defined benefit plan and/or the combined plan shall be determined as of the
			 date the benefit commences, except as otherwise set forth in section
			 3307.46 of the Revised Code, and
			 shall be limited to the maximum amount permitted under section
			 415(b)(1)(A) of
			 the Internal Revenue Code, as adjusted in accordance with section
			 415(d) of the
			 Internal Revenue Code, for the limitation year.
(C) Any adjustments applicable to
			 governmental plans (as defined in section
			 414(d) of the
			 Internal Revenue Code) that are required or permitted under section
			 415(b) of the
			 Internal Revenue Code shall be applied in calculating the maximum annual
			 benefit, except that the adjustment for commencement after age 65 under section
			 415(b)(2)(D) and the minimum benefit permitted by section
			 415(b)(4) of the
			 Internal Revenue Code shall not apply.
(D) The application of the provisions of this
			 rule shall not cause the maximum annual benefit provided to a member under the
			 defined benefit plan to be less than the member's accrued benefit as of
			 December 31, 2007 under provisions of Chapter 3307. of the Revised Code and
			 division 3307:1 of the Administrative Code that were both adopted and in effect
			 prior to April 5, 2007.
(E) To the
			 extent section 415(c) of the
			 Internal Revenue Code applies to contributions made to the defined contribution
			 plan or the combined plan, the annual contributions made to the member's
			 account by the member or the member's employer shall be subject to the limits
			 of section 415(c) of the
			 Internal Revenue Code, which limits shall be adjusted in accordance with
			 section 415(d) of the
			 Internal Revenue Code. For this purpose, compensation shall mean compensation
			 as defined in section 415(c)(3) of the
			 Internal Revenue Code and section 1.415-2(d)(3) of the final regulations, and
			 effective January 1, 2009, compensation shall include differential wage
			 payments as defined in section
			 3401(h)(2) of the
			 Internal Revenue Code.
(F) The
			 limitation year under this rule shall be the calendar year.
Ohio Administrative Code › Title 3307:1 - Defined Benefit › Chapter 3307:1-13 - Re-employment Restrictions › Section 3307:1-13-01 - Reemployment restrictions applicable to retirants

Current through all regulations passed and filed through July 1, 2024
This rule implements section
				3307.35 of the Revised Code and
				applies to Ohio public service after retirement in circumstances other than
				those subject to section
				3307.351 of the Revised Code and
				rule
				3307:1-13-02
				of the Administrative Code.
(A) For
			 the purpose of this rule and section
			 3307.35 of the Revised Code:
(1) "Effective retirement benefit date" means
			 the effective date upon which a retirement allowance or distribution
			 begins.
(2) "Non-uniformed
			 retirement system" means the public employees retirement system, the state
			 teachers retirement system and the school employees retirement
			 system.
(3) "Ohio retirement
			 system" means the public employees retirement system, the state teachers
			 retirement system, the school employees retirement system, the Ohio police and
			 fire pension fund, the highway patrol retirement system, and the Cincinnati
			 retirement system.
(4) "Uniformed
			 retirement system" means the Ohio police and fire pension fund and the highway
			 patrol retirement system.
(5)
			 "Alternative retirement plan" means a plan established under Chapter 3305. of
			 the Revised Code.
Ohio Administrative Code › Title 3307:1 - Defined Benefit › Chapter 3307:1-13 - Re-employment Restrictions › Section 3307:1-13-02 - Retirement of a member pursuant to section 3307.351 of the Revised Code

Current through all regulations passed and filed through July 1, 2024
(A) For purposes of
			 section
			 3307.351
			 of the Revised Code and this rule:
(1) "Active
			 position" means a position a member worked in the month before retirement and
			 for which contributions were being received by a state retirement system at the
			 time of retirement pursuant to section
			 3307.351
			 of the Revised Code.
(2) "STRS
			 annual compensation" means fiscal year earnings plus any unearned amounts
			 covered by contract for that fiscal year or a consecutive twelve-month
			 period.
(3) "Other retirement
			 system annual compensation" means a member's annual compensation for an active
			 position as certified to this system by the public employees retirement system
			 or the school employees retirement system.
(4) "Highest annual compensation" means the
			 highest of the STRS annual compensation or the other retirement system annual
			 compensation for an active position as determined by the paying
			 system.
(5) "Position" means all
			 employment with a single employer for which a member is covered and
			 contributing to the same state retirement system.
(6) "State retirement system" means the state
			 teachers retirement system, public employees retirement system, or school
			 employees retirement system.
(7)
			 "Other retirement system" means the school employees retirement system or
			 public employees retirement system.
(8) "Continuously held" pursuant to paragraph
			 (E) of section
			 3307.351
			 of the Revised Code and effective July 1, 2014, means the position held by the
			 member meets both of the following criteria:
(a) The member was employed in a position and
			 earned wages with the same employer during the first month of retirement and in
			 each of the twelve months immediately preceding the effective date of
			 retirement, where contributions on those wages were remitted to the same
			 retirement system; and,
(b) The
			 position described in paragraph (A)(8)(a) of
			 this rule was not the member's highest annual compensation at the time of
			 retirement for all positions covered by the state teachers retirement system,
			 the public employees retirement system or the school employees retirement
			 system.
Ohio Administrative Code › Title 3307:1 - Defined Benefit › Chapter 3307:1-13 - Re-employment Restrictions › Section 3307:1-13-03 - Reemployment subject to section 3307.353 of the Revised Code

Current through all regulations passed and filed through July 1, 2024
(A) This rule
			 applies in the case of an individual who is or most recently has been employed
			 by an employer in a position customarily filled by a vote of members of a board
			 or commission.
(B) An employer
			 that proposes to continue employing an individual described in paragraph (A) of
			 this rule as a reemployed superannuate or rehire as a reemployed superannuate
			 in the same position shall certify that it has complied with the requirements
			 of section 3307.353 of the Revised Code.
			 Certification shall be provided to the retirement system as a part of the
			 employer's notice of reemployment required by section
			 3307.35(D)  of
			 the Revised Code on forms provided by the retirement system and shall include
			 its certification that it has:
(1) Given
			 public notice in compliance with the requirements of section
			 3307.353 of the Revised Code not
			 less than sixty days before employment as a reemployed superannuate is to begin
			 that the individual is or will be retired and is seeking employment with the
			 employer; and
(2) Held a public
			 meeting on the issue of the proposed employment between fifteen and thirty days
			 before employment as a reemployed superannuate is to begin and after complying
			 with paragraph (B)(1) of this rule.
Ohio Administrative Code › Title 3307:1 - Defined Benefit › Chapter 3307:1-14 - Intersystem Transfers with Non-uniform Systems › Section 3307:1-14-01 - Intersystem transfers with non-uniform systems

Current through all regulations passed and filed through July 1, 2024
(A) This rule amplifies section
			 3307.57 of the Revised Code and
			 applies to members who retire with an effective date of retirement on or after
			 February 1, 2013.
(B) For the
			 purpose of this rule:
(1) "State retirement
			 system" 
									and
			 "retention percentage" have the same meaning as in section
			 3307.57 of the Revised
			 Code.
(2) "Fiscal year" means, for
			 the public employees retirement system, a calendar year and, for the school
			 employees retirement system and state teachers retirement system, the
			 twelve-month period beginning on July first and ending on June
			 thirtieth.
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-1 - Defined Contribution Plans - Definitions › Section 3307:2-1-01 - Definitions

Current through all regulations passed and filed through July 1, 2024
Except where another definition is specified, for the purposes
				of sections
				 3307.80 
				to
				 3307.89 
				of the Revised Code and Chapters 3307:2-1 to 
								3307:2-6 of
				the Administrative Codeall definitions can be found in the plan document, which is
				the document or documents adopted by the retirement board to establish the
				defined contribution program or any of its constituent plans.
Effective:
				6/7/2019
Five Year Review (FYR) Dates:
				3/22/2019 and
				06/07/2024
Promulgated
				Under:
				 111.15
Statutory Authority:
				 3307.80
Rule Amplifies:
				 3307.25,
				 3307.251,
				 3307.81
Prior Effective Dates: 09/17/2001, 07/16/2004, 06/18/2009,
				01/07/2013 (Emer.), 03/24/2013, 06/12/2014
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-2 - Defined Contribution Plans - Establishment › Section 3307:2-2-02 - Establishment of defined contribution plan

Current through all regulations passed and filed through July 1, 2024
Pursuant to section
				 3307.81 
				of the Revised Code, effective July 1, 2001 there is hereby established the
				defined contribution plan. The terms and conditions of the defined contribution
				plan shall be as specified in a plan document adopted by the retirement board.
				The plan document may be amended from time to time as the retirement board
				deems necessary or appropriate without the necessity of prior notice.
Contributions made by a participant pursuant to section
				 3307.26  of the
				Revised Code and a portion of employer contributions pursuant to section
				 3307.28  of
				the Revised Code specified by the retirement board shall be credited to the
				participant's account in the defined contribution fund. Contributions so
				credited shall be allocated by the participant among investment choices
				specified by the retirement board. The investment choices specified by the
				board may include a guaranteed return option and may also include choices the
				performance of which shall determine the cash accumulation available to the
				participant upon retirement or withdrawal.
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-2 - Defined Contribution Plans - Establishment › Section 3307:2-2-03 - Establishment of combined plan

Current through all regulations passed and filed through July 1, 2024
(A)
			 Pursuant to section
			  3307.81 
			 of the Revised Code, effective July 1, 2001 there is hereby established the
			 combined plan. The terms and conditions of the combined plan shall be as
			 specified in the plan document adopted by the retirement board. The plan
			 document may be amended from time to time as the retirement board deems
			 necessary or appropriate without the necessity of prior notice.
(B) A portion of the participant
			 contributions made pursuant to section
			  3307.26  of the
			 Revised Code as specified by the retirement board shall be credited to a
			 participant's account in the defined contribution fund
			 . Such contributions shall be allocated by the participant
			 among investment choices specified by the retirement board. The investment
			 choices specified by the board may include a guaranteed return option and may
			 also include choices the performance of which shall determine the cash
			 accumulation available to the participant upon retirement or
			 withdrawal.
(C) A portion of the
			 participant contributions made pursuant to section
			  3307.26  of the
			 Revised Code and a portion of the employer contributions made pursuant to
			 section
			  3307.28  of
			 the Revised Code as specified by the retirement board shall be applied as
			 specified by the retirement board to provide retirement, disability and
			 survivor benefits under the terms, conditions and schedules specified by the
			 plan document. A portion of the employer contributions may be allocated to the
			 health care fund under the terms, conditions and schedules specified by the
			 state teachers retirement board.
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-3 - Defined Contribution Plans - Election › Section 3307:2-3-01 - Initial election by new members

Current through all regulations passed and filed through July 1, 2024
(A) For purposes of section
			  3307.25 
			 of the Revised Code,
								 Chapter 3307:2-3 of the Administrative Code
			 and the plan document:
(1)
									"Teacher" shall be a contributing
			 member of the retirement system employed in a position that meets the
			 requirements set forth in division (B) of section
			  3307.01 
			 of the Revised Code.
(2) "New member" shall mean:
(a) An individual who is employed for the
			 first time as a teacher and who has never previously been a member of the
			 retirement system; or
(b) An
			 individual who is not a member of the retirement system upon employment as a
			 teacher, notwithstanding prior membership in the retirement system if:
(i) The individual terminated covered
			 employment and withdrew contributions pursuant to section
			  3307.56 
			 of the Revised Code before July 1, 2001; and
(ii) On June 30, 2001 the individual was not
			 a member of the retirement system; and
(iii) The individual thereafter returned to
			 teaching service; or
(c)
			 An individual who is not a member of the retirement system upon employment as a
			 teacher, notwithstanding prior membership in the retirement system, if:
(i) On June 30, 2001, the individual was a
			 member of the retirement system with five or more years of service credit;
			 and
(ii) The individual terminated
			 covered employment and withdrew contributions pursuant to section
			  3307.56 
			 of the Revised Code after July 1, 2001; and
(iii) The individual thereafter returns to
			 teaching service; or
(d)
			 An individual who is not a member of the retirement system upon employment as a
			 teacher, notwithstanding prior membership in the retirement system if:
(i) The prior membership in the system was
			 established on or after July 1, 2001; and
(ii) Upon such prior membership, the
			 individual made an election pursuant to section
			  3307.25 
			 of the Revised Code to participate in the defined contribution plan or the
			 combined plan; and
(iii) The
			 individual thereafter terminated covered employment and withdrew all
			 contributions or had the account exhausted through fees under the terms of the
			 plan in which he or she was participating prior to the first day of June
			 immediately preceding the fourth anniversary of the June thirtieth of the entry
			 year; and
(iv) The individual
			 thereafter returns to teaching service.
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-3 - Defined Contribution Plans - Election › Section 3307:2-3-02 - Election by certain current members

Current through all regulations passed and filed through July 1, 2024
(A) For the purposes of this rule and section
			  3307.251 
			 of the Revised Code:
(1) "Accumulated
			 contributions" shall have the same meaning as that set forth in section
			  3307.50 
			 of the Revised Code.
(2) "Total
			 service credit" shall have the same meaning as that set forth in section
			  3307.50 
			 of the Revised Code.
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-4 - Defined Contribution Plans - Service Credit › Section 3307:2-4-01 - Participants generally ineligible to purchase credit

Current through all regulations passed and filed through July 1, 2024
Except as otherwise specifically provided by the plan document,
				Chapters 3307:2-1 to 3307:2-7 of the Administrative Code, or the Revised Code,
				defined contribution program participants are not eligible to make
				contributions or purchase credit for periods of time when they were not
				actually employed in covered teaching service and contributing to this
				retirement system. To the extent there is a specific provision permitting such
				contribution or purchase:
(A) The
			 retirement system will issue a cost
								setting forth both the
			 current cost of such purchase and the time period the cost statement remains
			 valid.
(B) The participant
			 may purchase all or part of eligible credit, provided that the minimum payment
			 shall be the greater of the amount needed to establish one per cent of a year
			 of service credit or two hundred dollars but in all cases the
			 participant
			 shall pay the full cost if the amount of the full cost is less than
			 either two hundred dollars or the amount needed to establish one per cent of a
			 year of service credit.
(C)
								Participants applying for service retirement must
			 establish all service credit and contributions before the effective date of
			 service retirement if credit or contributions for such service is to be
			 included in the benefit calculation, except that:
(1) Payment to replace lost contributions
			 from teaching service interrupted by military service or qualifying leaves of
			 absences under rule 3307:2-4-03 of  the Administrative Code will be accepted for three months after the effective date of retirement, and credit will be deemed to have been established and contributions posted prior to the effective date, provided:
(a) That prior to the effective date of
			 retirement this retirement system approved an application to replace
			 contributions from teaching service interrupted by military service or
			 qualifying leaves of absence on forms provided by this system determining that
			 the service qualifies for replacement of lost contributions; and
(b) That prior to the effective date of
			 retirement this retirement system issued cost statements for the replacement of
			 lost contributions, with costs calculated for the month in which payment is
			 actually made; and
(c) That payment
			 in full is received by the retirement system no later than the last day of the
			 third month after the effective date of service retirement.
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-4 - Defined Contribution Plans - Service Credit › Section 3307:2-4-02 - Military service

Current through all regulations passed and filed through July 1, 2024
(A) A
			 participant in the defined contribution plan or the combined plan may make
			 contributions for periods when Ohio teaching service was interrupted by
			 military service under the same terms and conditions as specified for
			 participants in the defined benefit plan by section
			 3307.752 of the Revised Code.
			 The interest rate used to calculate the cost of any such purchase shall be at
			 the same rate established pursuant to rule
			 3307:1-3-01 of the
			 Administrative Code for purchases of military service under section
			 3307.752 of the Revised
			 Code.
(B) The retirement board
			 shall specify the portion of contributions that would have been paid by the
			 participant pursuant to section
			 3307.26 of the Revised Code, and
			 interest thereon as directed by section
			 3307.752 of the Revised Code, to
			 be credited as specified by the plan document to
			 the participant's account in the defined contribution fund created by division
			 (G) of section 3307.14 of the Revised Code. The
			 remaining contributions that would have been paid by the participant
			 , if applicable, and all employer
			 contributions that would have been paid by the employer pursuant to section
			 3307.28 of the Revised Code for
			 the participant's period of interrupted military service shall be applied
			 as specified by the plan document. A portion of the
			 employer contributions may be allocated to the health care fund under the
			 terms, conditions and schedules specified by the retirement board.
(C) No refund will be made of amounts paid by
			 a participant to purchase credit as herein provided, except as a part of a
			 total withdrawal of funds.
(D) A
			 participant in the combined plan may make contributions for periods of service
			 as outlined in paragraph (A) of this rule up to three months after the earlier
			 of either:
(1) The annuity starting date for
			 the participant's defined benefit portion of the combined plan; or
(2) The annuity starting date for the
			 participant's defined contribution portion of the combined plan.
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-4 - Defined Contribution Plans - Service Credit › Section 3307:2-4-03 - Combined plan participant leaves of absence

Current through all regulations passed and filed through July 1, 2024
Section  3307.77  of the Revised Code permits a teacher in the
				combined plan to complete contributions for a period during which the teacher
				was prevented by illness, injury, a leave granted pursuant to section  3319.13 
				or  3319.131  of the Revised Code, or other reasons approved by the state
				teachers retirement board, from making regular retirement contributions.
To facilitate crediting of such contributions, employer
				contributions and associated service credit, the following rule shall
				apply:
(A) A participant in the
			 combined plan may purchase credit for a period of leave or absence that would
			 qualify for purchases by a defined benefit plan participant under the
			 requirements set forth in section  3307.77  of the Revised Code and rule 3307:1-3-06 of  the Administrative Code, provided leave of absence purchases made pursuant to section 3307.77  of the Revised Code shall be made by a
			 lump-sum payment.
(B)
								Except as provided
			 in paragraph (F) of this rule, a participant in the combined plan may
			 complete retirement contributions and secure retirement credit for nonpaid
			 professional leaves in accordance with rule 3307:1-3-05 of  the Administrative Codeup to three
			 months after the earlier of either:
(1)
									The annuity starting date for the participant's defined
			 benefit portion of the combined plan; or
(2)
									The annuity
			 starting date for the participant's defined contribution portion of the
			 combined plan.
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-5 - Defined Contribution Plans - Distributions › Section 3307:2-5-01 - Distributions

Current through all regulations passed and filed through July 1, 2024
Application for a distribution from the defined contribution
				program shall be in accordance with the terms and conditions specified by the
				plan document. In no case shall a distribution be made prior to the termination
				of covered employment. Calculation and payment of a distribution shall be as
				specified by Chapter 3307:2-5 of the Administrative Code, the plan document,
				and the rates, factors and conditions established by the retirement board.
				Application shall be on a form provided by the retirement system and shall be
				deemed made as of the date a complete application is received by the retirement
				system.
Effective:
				6/7/2019
Five Year Review (FYR) Dates:
				3/22/2019 and
				06/07/2024
Promulgated
				Under:
				 111.15
Statutory Authority:
				 3307.80
Rule Amplifies:
				 3307.81
Prior Effective Dates: 07/01/2001 (Emer.), 09/17/2001, 06/18/2009,
				01/07/2013 (Emer.), 03/24/2013
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-5 - Defined Contribution Plans - Distributions › Section 3307:2-5-02 - Distributions from the defined contribution plan

Current through all regulations passed and filed through July 1, 2024
Upon termination of teaching service, a participant in the
				defined contribution plan may apply for a distribution, as follows:
(A) Application may be made for withdrawal of
			 the amount determined under the plan document and this rule.
(1) The amount payable upon withdrawal shall
			 be paid in a lump sum, except to the extent as otherwise provided by section
			   3307.87   of the Revised Code and the plan
			 document.
(2)
			 Membership and participation in the retirement system shall terminate upon
			 withdrawal. Any credit for periods of service paid out upon withdrawal shall be
			 cancelled.
(3) Participation in the
			 defined contribution plan shall resume in the event the participant thereafter
			 returns to teaching service, except to the extent that upon the return to
			 teaching service the participant meets the requirements specified by rule 3307:2-3-01 of  the Administrative Code to qualify as a new member.
(4) Payment from an account in the defined
			 contribution plan shall be based upon the closing net asset value as of the day
			 an application for distribution is processed by using the investment choices
			 made by the participant to determine the amount accumulated by reason of
			 contributions.
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-5 - Defined Contribution Plans - Distributions › Section 3307:2-5-03 - Distributions from the combined plan

Current through all regulations passed and filed through July 1, 2024
Upon termination of teaching service, a participant in the
				combined plan may apply for a distribution, as follows:
(A) Application may be made for withdrawal of
			 the amounts determined under the plan document and this rule.
(1) An application to withdraw the defined
			 benefit portion of an account will not be accepted unless application is also
			 made to withdraw the defined contribution portion.
(2) Prior to attainment of age fifty:
(a) A participant who has terminated covered
			 employment may leave contributions on deposit in the plan or may apply for
			 withdrawal, but is not eligible for retirement or retirement
			 distributions.
(b) An application
			 to withdraw the defined contribution portion of an account will not be accepted
			 unless application is also made to withdraw the defined benefit
			 portion;
(c) The amounts payable
			 upon withdrawal shall be paid in a lump sum except as otherwise provided by
			 section   3307.87   of the Revised Code and the plan
			 document.
(3) After attainment of age fifty:
(a) A participant in the combined plan who
			 has established at least five years of qualifying service credit may apply to
			 withdraw the defined contribution portion but leave the defined benefit portion
			 on deposit to provide benefits at a future date.
(b) If a participant has established less
			 than five years of qualifying service credit, an application to withdraw the
			 defined contribution portion of an account will not be accepted unless an
			 application is also made to withdraw the defined benefit portion.
(4) Regardless of age or when the
			 withdrawal payment was made, in the event a participant who has received a
			 payment under paragraph (A) of this rule subsequently returns to teaching
			 service:
(a) The member shall participate in
			 the combined plan if the withdrawal payment was made under paragraph (A)(1),
			 (A)(2) or (A)(3)(b) of this rule, unless the participant meets the requirements
			 specified by rule 3307:2-3-01 of  the Administrative Code to qualify as a new member.
(b) The participant shall
			 be a superannuate as defined by section   3307.01   of the Revised Code if the
			 withdrawal payment was made under paragraph (A) (3)(a) of this rule.
(5) Payment from the defined
			 contribution portion of an account in the combined plan shall be based upon the
			 closing net asset value as of the day an application for distribution is
			 processed by using the investment choices made by the participant to determine
			 the amount accumulated by reason of contributions.
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-5 - Defined Contribution Plans - Distributions › Section 3307:2-5-06 - Annuitization of defined contribution amounts

Current through all regulations passed and filed through July 1, 2024
(A)
								 A defined
			 contribution program participant who has terminated covered employment and
			 applies for distribution after attainment of age fifty may choose to annuitize
			 an account in the defined contribution plan or the defined contribution portion
			 of the combined plan by applying for a monthly payment for the lifetime of the
			 participant, provided:
(1)
									 The minimum monthly
			 amount shall be one hundred dollars.
(2)
									 Application for an annuity must be made on a
			 form provided by and filed with the retirement system.
(3)
									 The monthly amount granted shall be determined
			 under annuity rates and factors adopted and periodically adjusted by the
			 retirement board after review by an independent actuary appointed by the board
			 and applied to the amount accumulated by a participant.
(4)
									 A participant may elect to receive an annuity in
			 the amount determined under paragraph (C) of this rule for life or may instead
			 elect to receive an actuarially equivalent benefit in a lesser amount for the
			 lifetime of the participant but continuing after the participant's death to a
			 beneficiary under any plan of payment specified by rule 3307:2-5-09 of  the Administrative Code.
(5)
									 Funds to be annuitized shall be based upon the
			 closing net asset value of the investment choices made by the participant as of
			 the day an application for benefits is ready to be processed for payment.
			 Payment will be made as soon as administratively practicable after receipt of a
			 complete application.
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-5 - Defined Contribution Plans - Distributions › Section 3307:2-5-07 - Beneficiaries

Current through all regulations passed and filed through July 1, 2024
(A) Subject to
			 section
			  3307.87 
			 of the Revised Code and rule 3307:2-5-08 of  the Administrative Code, a participant in the defined contribution program may designate a beneficiary as specified in the plan document. Such a designation shall be in writing on a form provided by and received by the retirement system before the participant's death and the form must be completed in
			 a manner satisfactory to the retirement system in its sole discretion. The most
			 recent designation filed with the retirement system revokes all previous
			 designations. The participant's marriage, termination of marriage, legal
			 separation, withdrawal or distribution of account, or the birth of the
			 participant's child or the participant's
			 adoption of a child shall constitute an automatic revocation of any previous
			 designation. A permanent election by a participant in
			 the combined plan or defined contribution plan that results in a change from
			 the participant's's original retirement plan
			 selection
								shall also constitute an automatic revocation of any previous
			 designation.
(B) For beneficiary
			 designations received pursuant to paragraph (A) of this rule where the
participant named two or more beneficiaries and
				specified percentages for each of the beneficiaries, the state teachers
				retirement system shall pay the specified percentage of a lump-sum payment to
				each named beneficiary if all of these conditions are met:
(1) Two or more beneficiaries were named in a
			 valid designation.
(2) Percentages
			 were provided for all named beneficiaries.
(3) The sum of the percentages is one hundred
			 per cent.
If any one of these conditions is not met, the lump-sum payment
				will be divided equally among the beneficiaries. Should a designated
				beneficiary predecease the participant, those funds shall be prorated based on
				the remaining percentages designated and paid to the other designated
				beneficiaries.
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-5 - Defined Contribution Plans - Distributions › Section 3307:2-5-08 - Spousal consent

Current through all regulations passed and filed through July 1, 2024
The following rule is adopted to implement section
				 3307.87 
				of the Revised Code:
(A) If a defined
			 contribution program participant who has terminated covered employment is
			 married and is at least age fifty at the time of application for withdrawal of
			 a balance of five thousand dollars or more, consent of the spouse shall be
			 required under the circumstances and subject to the exceptions specified by
			 section
			  3307.87 
			 of the Revised Code.
(B) If a
			 defined contribution program participant is married at the time of the
			 application for a retirement benefit as specified by these rules and the terms
			 of the plan document, the consent of the spouse shall be required for the
			 participant to select any form of payment, benefit or
			 plan of payment that is not of a joint and survivor annuity with at least fifty
			 per cent continuing for the lifetime of the spouse upon the death of the
			 participant.
(C) The designation of
			 a beneficiary other than the spouse by a participant married at the time of
			 designation shall be subject to the consent of the spouse.
(D) The defined contribution portion of the
			 combined plan and the defined benefit portion of that plan shall be subject to
			 separate requirements of spousal consent.
(E) The foregoing requirements shall not
			 apply if a spouse cannot be located or for any other reason specified by rule 3307:1-5-02 or  3307:1-12-01 of  the Administrative Code.
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-5 - Defined Contribution Plans - Distributions › Section 3307:2-5-09 - Plans of payment for monthly benefit

Current through all regulations passed and filed through July 1, 2024
(A) A defined contribution program
			 participant granted a monthly benefit from the member account upon attainment
			 of a minimum age of fifty and termination of covered employment may elect a
			 monthly benefit in accordance with the terms and conditions of the plan
			 document under any of the plans of payment available for defined benefit
			 members under the terms of rule
			 3307:1-5-02 of the
			 Administrative Code and section
			 3307.60 of the Revised Code,
			 except for a lump-sum payment made under division (B) of section
			 3307.60 of the Revised Code. A
			 plan of payment selected may be changed or reselected only as therein provided.
			 If the participant elects to annuitize such payment, no change may be made in
			 the plan of payment selected for such annuity after the fifteenth day of the
			 month of the first regular benefit payment. Regular benefits begin once a final
			 benefit, as defined by paragraph (G) of rule
			 3307:1-1-01 of the
			 Administrative Code, is paid.
(B) A
			 combined plan participant granted a monthly benefit under the defined benefit
			 portion of the account may elect a monthly benefit in accordance with the terms
			 and conditions of the plan document under any of the plans of payment available
			 for defined benefit members under the terms of section
			 3307.60 of the Revised Code and
			 rule 3307:1-5-02 of the
			 Administrative Code. A plan of payment selected may be changed or reselected
			 only as therein provided. No change may be made in the plan of payment selected
			 after the fifteenth day of the month of the first regular benefit payment.
			 Regular benefits begin once a final benefit, as defined by paragraph
			 (G) of
			 rule 3307:1-1-01 of the
			 Administrative Code, is paid.
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-5 - Defined Contribution Plans - Distributions › Section 3307:2-5-10 - Rollovers distributed

Current through all regulations passed and filed through July 1, 2024
Direct rollover distributions may be paid by the retirement
				system as specified by section  6.7  of the plan document and subject to the same
				procedures as specified by paragraph (A) of rule 3307:1-12-01 of  the Administrative Code.
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-6 - Defined Contribution Plans - Disability Benefits › Section 3307:2-6-01 - Combined plan disability benefits

Current through all regulations passed and filed through July 1, 2024
(A) A participant in the combined plan may
			 apply for disability benefits specified by the plan document
			 .
(B) An
			 application for a disability benefit under the combined plan and continuing
			 eligibility for such a benefit shall be evaluated,
								
			 reevaluated, and administered as specified by
			 sections
			  3307.48,
			  3307.62,
			 and
			  3307.631 
			 of the Revised Code and Chapter 3307:1-7 of the Administrative Code.
(C)
			 Neither service credit established under nor contributions to the public
			 employees retirement system created by Chapter 145. of the Revised Code or the
			 school employees retirement system created by Chapter 3309. of the Revised Code
			 may be combined with credit or contributions to this retirement system for
			 either determination of eligibility for disability benefits or calculation of
			 any such benefits.
Effective:
				6/7/2019
Five Year Review (FYR) Dates:
				3/22/2019 and
				06/07/2024
Promulgated
				Under:
				 111.15
Statutory Authority:
				 3307.80
Rule Amplifies:
				 3307.81
Prior Effective Dates: 07/01/2001 (Emer.), 09/17/2001, 07/16/2004,
				06/18/2009, 01/07/2013 (Emer.), 03/24/2013, 07/01/2013 (Emer.), 09/09/2013,
				06/12/2014
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-6 - Defined Contribution Plans - Disability Benefits › Section 3307:2-6-03 - Combined plan health benefits

Current through all regulations passed and filed through July 1, 2024
Participants, and their beneficiaries
				and survivors granted monthly benefits under the defined benefit portion of the
				combined plan may participate in the health care program established pursuant
				to section
				 3307.39 
				of the Revised Code under the same terms and conditions specified for defined
				benefit participants by that section and Chapter 3307:1-11 of the
				Administrative Code.
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-7 - Defined Contribution Plans - Investments › Section 3307:2-7-01 - Investments

Current through all regulations passed and filed through July 1, 2024
For the purposes of recording the account accumulated when
				payment becomes due to a participant in the defined contribution program, a
				unitized share value shall be assigned based on closing net asset value of the
				investment choices made by the participant as of the day contributions are
				credited to a participant's account.
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-7 - Defined Contribution Plans - Investments › Section 3307:2-7-02 - Allocation of funds

Current through all regulations passed and filed through July 1, 2024
(A)
			 All funds credited to the account of a participant in the defined contribution
			 program shall be allocated to the "STRS Target Choice Option"
			 that falls immediately before the participant's
			 sixtieth birthday
								 until an allocation directing otherwise is received from the
			 participant.
(B) After the
			 expiration of the one hundred-eighty-day election period provided by section
			  3307.25  of the Revised Code, the
			 allocation of any contributions made retroactively to a defined contribution
			 program account shall be credited as outlined in paragraphs (B)(1) and (B)(2)
			 of this rule:
(1) Contributions received in
			 the first one hundred-eighty days of membership shall be credited as of the
			 last day of the one hundred-eighty-day election period and all other
			 contributions for past service shall be credited as of the first business day
			 following the day the contributions were received by the state teachers
			 retirement system.
(2) The sum
			 accumulated on the retroactive contributions shall be calculated by the greater
			 of the following two alternatives:
(a) All
			 contributions allocated to the "STRS Money Market" choice at the net asset
			 value of the money market choice at the close of business on the day outlined
			 in paragraph (B)(1) of this rule; or
(b) All contributions allocated to the "STRS
			 Target Choice Option" that falls immediately before the
			 participant's sixtieth birthday
										, at the net asset value of the "STRS Target
			 Choice Option" at the close of business on the day outlined in paragraph (B)(1)
			 of this rule.
Ohio Administrative Code › Title 3307:2 - Defined Contribution › Chapter 3307:2-7 - Defined Contribution Plans - Investments › Section 3307:2-7-03 - Rollovers received

Current through all regulations passed and filed through July 1, 2024
Direct rollover distributions of pretax amounts may be received
				by the retirement system as specified by the plan document, provided:
(A) Application shall be on a form provided
			 by the retirement system; and
(B)
			 Application shall be subject to determination by the retirement system that the
			 transferring plan or account is eligible to rollover funds to the plan in which
			 the member participates.
(C)
			 Rollover distributions are initially invested in the "STRS Target Choice
			 Option" that falls immediately before the participant's sixtieth
			 birthday at the time of deposit. Participants may reallocate the funds
			 any time after the deposit is made.
Ohio Administrative Code › Title 3309 - School Employees Retirement System › Chapter 3309-1 - General Provisions › Section 3309-1-01 - Membership effective date

Current through all regulations passed and filed through July 1, 2024
Membership shall begin on the first
				date of compensated service for which employee contributions have been received
				by SERS.
Five Year Review (FYR) Dates:
				2/1/2022 and
				02/01/2027
Promulgated
				Under:
				111.15
Statutory Authority:
				3309.04
Rule Amplifies:
				3309.01,
				3309.23,
				3309.36,
				3309.39
Prior Effective Dates:
				04/06/2012