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To amend sections 742.63, 5505.12, and 5505.18 and to | 1 |
enact sections 5505.50 to 5505.59 of the Revised | 2 |
Code to provide for the establishment of the State | 3 |
Highway Patrol Retirement System deferred | 4 |
retirement option plan. | 5 |
Section 1. That sections 742.63, 5505.12, and 5505.18 be | 6 |
amended and sections 5505.50, 5505.51, 5505.52, 5505.53, 5505.54, | 7 |
5505.55, 5505.56, 5505.57, 5505.58, and 5505.59 of the Revised | 8 |
Code be enacted to read as follows: | 9 |
Sec. 742.63. The board of trustees of the Ohio police and | 10 |
fire pension fund shall adopt rules for the management of the Ohio | 11 |
public safety officers death benefit fund and for disbursements of | 12 |
benefits as set forth in this section. | 13 |
(A) As used in this section: | 14 |
(1) "Member" means all of the following: | 15 |
(a) A member of the Ohio police and fire pension fund, | 16 |
including a member of the fund who has elected to participate in | 17 |
the deferred retirement option plan established under section | 18 |
742.43 of the Revised Code or a member of or contributor to a | 19 |
police or firemen's relief and pension fund established under | 20 |
former Chapter 521. or 741. of the Revised Code; | 21 |
(b) A member of the state highway patrol retirement system, | 22 |
including a member who is participating in the deferred retirement | 23 |
option plan established under section 5505.50 of the Revised Code; | 24 |
(c) A member of the public employees retirement system who at | 25 |
the time of the member's death was one of the following: | 26 |
(i) A county sheriff or deputy sheriff; | 27 |
(ii) A full-time regular police officer in a municipal | 28 |
corporation or township; | 29 |
(iii) A full-time regular firefighter employed by the state, | 30 |
an instrumentality of the state, a municipal corporation, a | 31 |
township, a joint fire district, or another political subdivision; | 32 |
(iv) A full-time park district ranger or patrol trooper; | 33 |
(v) A full-time law enforcement officer of the department of | 34 |
natural resources; | 35 |
(vi) A full-time department of public safety enforcement | 36 |
agent; | 37 |
(vii) A full-time law enforcement officer of parks, waterway | 38 |
lands, or reservoir lands under the control of a municipal | 39 |
corporation; | 40 |
(viii) A full-time law enforcement officer of a conservancy | 41 |
district; | 42 |
(ix) A correction officer at an institution under the control | 43 |
of a county, a group of counties, a municipal corporation, or the | 44 |
department of rehabilitation and correction; | 45 |
(x) A state university law enforcement officer. | 46 |
(d) A member of a retirement system operated by a municipal | 47 |
corporation who at the time of death was a full-time law | 48 |
enforcement officer of parks, waterway lands, or reservoir lands | 49 |
under the control of the municipal corporation. | 50 |
(2) Notwithstanding section 742.01 of the Revised Code, "fire | 51 |
or police department" includes a fire department of the state or | 52 |
an instrumentality of the state or of a municipal corporation, | 53 |
township, joint fire district, or other political subdivision, the | 54 |
state highway patrol, a county sheriff's office, the security | 55 |
force of an institution under the control of the department of | 56 |
rehabilitation and correction, the security force of a jail or | 57 |
workhouse under the control of a county, group of counties, or | 58 |
municipal corporation, the security force of a metropolitan, | 59 |
county, or township park district, the security force of lands | 60 |
under the control of the department of natural resources, | 61 |
department of public safety enforcement agents, the security force | 62 |
of parks, waterway lands, or reservoir lands under the control of | 63 |
a municipal corporation, the security force of a conservancy | 64 |
district, the police department of a township or municipal | 65 |
corporation, and the police force of a state university. | 66 |
(3) "Firefighter or police officer" includes a state highway | 67 |
patrol trooper, a county sheriff or deputy sheriff, a correction | 68 |
officer at an institution under the control of a county, a group | 69 |
of counties, a municipal corporation, or the department of | 70 |
rehabilitation and correction, a police officer employed by a | 71 |
township or municipal corporation, a firefighter employed by the | 72 |
state, an instrumentality of the state, a municipal corporation, a | 73 |
township, a joint fire district, or another political subdivision, | 74 |
a full-time park district ranger or patrol trooper, a full-time | 75 |
law enforcement officer of the department of natural resources, a | 76 |
full-time department of public safety enforcement agent, a | 77 |
full-time law enforcement officer of parks, waterway lands, or | 78 |
reservoir lands under the control of a municipal corporation, a | 79 |
full-time law enforcement officer of a conservancy district, and a | 80 |
state university law enforcement officer. | 81 |
(4) "Correction officer" includes, in addition to any | 82 |
correction officer, any correction corporal, sergeant, lieutenant, | 83 |
or captain, and the equivalents of all such persons. | 84 |
(5) "A park district ranger or patrol trooper" means a peace | 85 |
officer commissioned to make arrests, execute warrants, and | 86 |
preserve the peace upon lands under the control of a board of park | 87 |
commissioners of a metropolitan, county, or township park | 88 |
district. | 89 |
(6) "Metropolitan, county, or township park district" means a | 90 |
park district created under the authority of Chapter 511. or 1545. | 91 |
of the Revised Code. | 92 |
(7) "Conservancy district" means a conservancy district | 93 |
created under the authority of Chapter 6101. of the Revised Code. | 94 |
(8) "Law enforcement officer" means an officer commissioned | 95 |
to make arrests, execute warrants, and preserve the peace upon | 96 |
lands under the control of the governmental entity granting the | 97 |
commission. | 98 |
(9) "Department of natural resources law enforcement officer" | 99 |
includes a forest officer designated pursuant to section 1503.29 | 100 |
of the Revised Code, a preserve officer designated pursuant to | 101 |
section 1517.10 of the Revised Code, a wildlife officer designated | 102 |
pursuant to section 1531.13 of the Revised Code, a park officer | 103 |
designated pursuant to section 1541.10 of the Revised Code, and a | 104 |
state watercraft officer designated pursuant to section 1547.521 | 105 |
of the Revised Code. | 106 |
(10) "Retirement eligibility date" means the last day of the | 107 |
month in which a deceased member would have first become eligible, | 108 |
had the member lived, for the retirement pension provided under | 109 |
section 145.33, Chapter 521. or 741., division (C)(1) of section | 110 |
742.37, or division (A)(1) of section 5505.17 of the Revised Code | 111 |
or provided by a retirement system operated by a municipal | 112 |
corporation. | 113 |
(11) "Death benefit amount" means an amount equal to the full | 114 |
monthly salary received by a deceased member prior to death, minus | 115 |
an amount equal to the benefit received under section 145.45, | 116 |
742.37, 742.3714, or 5505.17 of the Revised Code or the benefit | 117 |
received from a retirement system operated by a municipal | 118 |
corporation, plus any increases in salary that would have been | 119 |
granted the deceased member. | 120 |
(12) "Killed in the line of duty" means either of the | 121 |
following: | 122 |
(a) Death in the line of duty; | 123 |
(b) Death from injury sustained in the line of duty, | 124 |
including heart attack or other fatal injury or illness caused | 125 |
while in the line of duty. | 126 |
(B) A spouse of a deceased member shall receive a death | 127 |
benefit each month equal to the full death benefit amount, | 128 |
provided that the deceased member was a firefighter or police | 129 |
officer killed in the line of duty and there are no surviving | 130 |
children eligible for a benefit under this section. The spouse | 131 |
shall receive this benefit during the spouse's natural life until | 132 |
the deceased member's retirement eligibility date, on which date | 133 |
the benefit provided under this division shall terminate. | 134 |
(C)(1) If a member killed in the line of duty as a | 135 |
firefighter or police officer is survived only by a child or | 136 |
children, the child or children shall receive a benefit each month | 137 |
equal to the full death benefit amount. If there is more than one | 138 |
surviving child, the benefit shall be divided equally among these | 139 |
children. | 140 |
(2) If the death benefit paid under this division is divided | 141 |
among two or more surviving children and any of the children | 142 |
become ineligible to continue receiving a portion of the benefit | 143 |
as provided in division (H) of this section, the full death | 144 |
benefit amount shall be paid to the remaining eligible child or | 145 |
divided among the eligible children so that the benefit paid to | 146 |
the remaining eligible child or children equals the full death | 147 |
benefit amount. | 148 |
(3) Notwithstanding divisions (C)(1) and (2) of this section, | 149 |
all death benefits paid under this division shall terminate on the | 150 |
deceased member's retirement eligibility date. | 151 |
(D) If a member killed in the line of duty as a firefighter | 152 |
or police officer is survived by both a spouse and a child or | 153 |
children, the monthly benefit provided shall be as follows: | 154 |
(1)(a) If there is a surviving spouse and one surviving | 155 |
child, the spouse shall receive an amount each month equal to | 156 |
one-half of the full death benefit amount and the child shall | 157 |
receive an amount equal to one-half of the full death benefit | 158 |
amount. | 159 |
(b) If the surviving spouse dies or the child becomes | 160 |
ineligible as provided in division (H) of this section, the | 161 |
surviving spouse or child remaining eligible shall receive the | 162 |
full death benefit amount. | 163 |
(2)(a) If there is a surviving spouse and more than one | 164 |
child, the spouse shall receive an amount each month equal to | 165 |
one-third of the full death benefit amount and the children shall | 166 |
receive an amount, equally divided among them, equal to two-thirds | 167 |
of the full death benefit amount. | 168 |
(b) If a spouse and more than one child each are receiving a | 169 |
death benefit under division (D)(2)(a) of this section and the | 170 |
spouse dies, the children shall receive an amount each month, | 171 |
equally divided among them, equal to the full death benefit | 172 |
amount. | 173 |
(c) If a spouse and more than one child each are receiving a | 174 |
benefit under division (D)(2)(a) of this section and any of the | 175 |
children becomes ineligible to receive a benefit as provided in | 176 |
division (H) of this section, the spouse and remaining eligible | 177 |
child or children shall receive a death benefit as follows: | 178 |
(i) If there are two or more remaining eligible children, the | 179 |
spouse shall receive an amount each month equal to one-third of | 180 |
the full death benefit amount and the children shall receive an | 181 |
amount each month, equally divided among them, equal to two-thirds | 182 |
of the full death benefit amount; | 183 |
(ii) If there is one remaining eligible child, the spouse | 184 |
shall receive an amount each month equal to one-half of the full | 185 |
death benefit amount, and the child shall receive an amount each | 186 |
month equal to one-half of the full death benefit amount. | 187 |
(d) If a spouse and more than one child each are receiving a | 188 |
benefit under division (D)(2)(a) of this section and all of the | 189 |
children become ineligible to receive a benefit as provided in | 190 |
division (H) of this section, the spouse shall receive the full | 191 |
death benefit amount. | 192 |
(3) Notwithstanding divisions (D)(1) and (2) of this section, | 193 |
death benefits paid under this division to a surviving spouse | 194 |
shall terminate on the member's retirement eligibility date. Death | 195 |
benefits paid to a surviving child or children shall terminate on | 196 |
the deceased member's retirement eligibility date unless earlier | 197 |
terminated pursuant to division (H) of this section. | 198 |
(E) If a member, on or after January 1, 1980, is killed in | 199 |
the line of duty as a firefighter or police officer and is | 200 |
survived by only a parent or parents dependent upon the member for | 201 |
support, the parent or parents shall receive an amount each month | 202 |
equal to the full death benefit amount. If there is more than one | 203 |
surviving parent dependent upon the deceased member for support, | 204 |
the death benefit amount shall be divided equally among the | 205 |
surviving parents. On the death of one of the surviving parents, | 206 |
the full death benefit amount shall be paid to the other parent. | 207 |
(F)(1) The following shall receive a monthly death benefit | 208 |
under this division: | 209 |
(a) A surviving spouse whose benefits are terminated in | 210 |
accordance with division (B) or (D)(3) of this section on the | 211 |
deceased member's retirement eligibility date, or who would | 212 |
qualify for a benefit under division (B) or (D) of this section | 213 |
except that the deceased member reached the member's retirement | 214 |
eligibility date prior to the member's death; | 215 |
(b) A qualified surviving spouse of a deceased member of or | 216 |
contributor to a police or firemen's relief and pension fund | 217 |
established under former Chapter 521. or 741. of the Revised Code | 218 |
who was a firefighter or police officer killed in the line of | 219 |
duty. | 220 |
(2) The monthly death benefit shall be one-half of an amount | 221 |
equal to the monthly salary received by the deceased member prior | 222 |
to the member's death, plus any salary increases the deceased | 223 |
member would have received prior to the member's retirement | 224 |
eligibility date. The benefit shall terminate on the surviving | 225 |
spouse's death. A death benefit payable under this division shall | 226 |
be reduced by an amount equal to any allowance or benefit payable | 227 |
to the surviving spouse under section 742.3714 of the Revised | 228 |
Code. | 229 |
(3) A benefit granted to a surviving spouse under division | 230 |
(F)(1)(b) of this section shall commence on the first day of the | 231 |
month immediately following receipt by the board of a completed | 232 |
application on a form provided by the board and any evidence the | 233 |
board may require to establish that the deceased spouse was killed | 234 |
in the line of duty. | 235 |
(G)(1) If there is not a surviving spouse eligible to receive | 236 |
a death benefit under division (F) of this section or the | 237 |
surviving spouse receiving a death benefit under that division | 238 |
dies, a surviving child or children whose benefits under division | 239 |
(C) or (D) of this section are or have been terminated pursuant to | 240 |
division (C)(3) or (D)(3) of this section or who would qualify for | 241 |
a benefit under division (C) or (D) of this section except that | 242 |
the deceased member reached the member's retirement eligibility | 243 |
date prior to the member's death shall receive a monthly death | 244 |
benefit under this division. The monthly death benefit shall be | 245 |
one-half of an amount equal to the monthly salary received by the | 246 |
deceased member prior to the member's death, plus any salary | 247 |
increases the member would have received prior to the member's | 248 |
retirement eligibility date. If there is more than one surviving | 249 |
child, the benefit shall be divided equally among the surviving | 250 |
children. | 251 |
(2) If two or more surviving children each are receiving a | 252 |
benefit under this division and any of those children becomes | 253 |
ineligible to continue receiving a benefit as provided in division | 254 |
(H) of this section, the remaining eligible child or children | 255 |
shall receive an amount equal to one-half of the monthly salary | 256 |
received by the deceased member prior to death, plus any salary | 257 |
increases the deceased member would have received prior to the | 258 |
retirement eligibility date. If there is more than one remaining | 259 |
eligible child, the benefit shall be divided equally among the | 260 |
eligible children. | 261 |
(3) A death benefit, or portion of a death benefit, payable | 262 |
to a surviving child under this division shall be reduced by an | 263 |
amount equal to any allowance or benefit payable to that child | 264 |
under section 742.3714 of the Revised Code, but the reduction in | 265 |
that child's benefit shall not affect the amount payable to any | 266 |
other surviving child entitled to a portion of the death benefit. | 267 |
(H) A death benefit paid to a surviving child under division | 268 |
(C), (D), or (G) of this section shall terminate on the death of | 269 |
the child or, unless one of the following is the case, when the | 270 |
child reaches age eighteen: | 271 |
(1) The child, because of physical or mental disability, is | 272 |
unable to provide the child's own support, in which case the death | 273 |
benefit shall terminate when the disability is removed; | 274 |
(2) The child is unmarried, under age twenty-two, and a | 275 |
student in and attending an institution of learning or training | 276 |
pursuant to a program designed to complete in each school year the | 277 |
equivalent of at least two-thirds of the full-time curriculum | 278 |
requirements of the institution, as determined by the trustees of | 279 |
the fund. | 280 |
(I) Acceptance of any death benefit under this section does | 281 |
not prohibit a spouse or child from receiving other benefits | 282 |
provided under the Ohio police and fire pension fund, the state | 283 |
highway patrol retirement system, the public employees retirement | 284 |
system, or a retirement system operated by a municipal | 285 |
corporation. | 286 |
(J) No person shall receive a benefit under this section if | 287 |
any of the following occur: | 288 |
(1) The person fails to exercise the right to a monthly | 289 |
survivor benefit under division (A) or (B) of section 145.45, | 290 |
division (D), (E), or (F) of section 742.37, or division (A)(3), | 291 |
(4), or (7) of section 5505.17 of the Revised Code; to a monthly | 292 |
survivor benefit from a retirement system operated by a municipal | 293 |
corporation; or to a retirement allowance under section 742.3714 | 294 |
of the Revised Code. | 295 |
(2) The member's accumulated contributions under this chapter | 296 |
or Chapter 145. or 5505. of the Revised Code are refunded unless | 297 |
the member had been a member of the public employees retirement | 298 |
system and had fewer than eighteen months of total service credit | 299 |
at the time of death. | 300 |
(3) In the case of a full-time park district ranger or patrol | 301 |
trooper, a full-time law enforcement officer of the department of | 302 |
natural resources, a full-time law enforcement officer of parks, | 303 |
waterway lands, or reservoir lands under the control of a | 304 |
municipal corporation, a full-time law enforcement officer of a | 305 |
conservancy district, a correction officer at an institution under | 306 |
the control of a county, group of counties, or municipal | 307 |
corporation, or a member of a retirement system operated by a | 308 |
municipal corporation who at the time of the member's death was a | 309 |
full-time law enforcement officer of parks, waterway lands, or | 310 |
reservoir lands under the control of the municipal corporation, | 311 |
the member died prior to April 9, 1981, in the case of a benefit | 312 |
under division (B), (C), or (D) of this section, or prior to | 313 |
January 1, 1980, in the case of a benefit under division (E) of | 314 |
this section. | 315 |
(4) In the case of a full-time department of public safety | 316 |
enforcement agent who prior to June 30, 1999, was a liquor control | 317 |
investigator of the department of public safety, the member died | 318 |
prior to December 23, 1986; | 319 |
(5) In the case of a full-time department of public safety | 320 |
enforcement agent other than an enforcement agent who, prior to | 321 |
June 30, 1999, was a liquor control investigator, the member died | 322 |
prior to June 30, 1999. | 323 |
(K) A surviving spouse whose benefit was terminated prior to | 324 |
June 30, 1999, due to remarriage shall receive a benefit under | 325 |
division (B), (D), or (F) of this section beginning on the first | 326 |
day of the month following receipt by the board of an application | 327 |
on a form provided by the board. The benefit amount shall be | 328 |
determined as of that date. | 329 |
(1) If the benefit will begin prior to the deceased member's | 330 |
retirement eligibility date, it shall be paid under division (B) | 331 |
or (D) of this section and shall terminate as provided in those | 332 |
divisions. A benefit paid to a surviving spouse under division (D) | 333 |
of this section shall be determined in accordance with that | 334 |
division, even if benefits paid to surviving children are reduced | 335 |
as a result. | 336 |
(2) If the benefit will begin on or after the deceased | 337 |
member's retirement eligibility date, it shall be paid under | 338 |
division (F) of this section and shall terminate as provided in | 339 |
that division. A benefit paid to a surviving spouse under division | 340 |
(F) of this section shall be determined in accordance with that | 341 |
division, even if benefits paid to surviving children are | 342 |
terminated as a result. | 343 |
Sec. 5505.12. (A) The state highway patrol retirement board | 344 |
shall have prepared annually by or under the supervision of an | 345 |
actuary an actuarial valuation of the pension assets, liabilities, | 346 |
and funding requirements of the state highway patrol retirement | 347 |
system as established pursuant to this chapter. The actuary shall | 348 |
complete the valuation in accordance with actuarial standards of | 349 |
practice promulgated by the actuarial standards board of the | 350 |
American academy of actuaries and prepare a report of the | 351 |
valuation. The report shall include all of the following: | 352 |
(1) A summary of the benefit provisions evaluated; | 353 |
(2) A summary of the census data and financial information | 354 |
used in the valuation; | 355 |
(3) A description of the actuarial assumptions, actuarial | 356 |
cost method, and asset valuation method used in the valuation, | 357 |
including a statement of the assumed rate of payroll growth and | 358 |
assumed rate of growth or decline in the number of members | 359 |
contributing to the retirement system; | 360 |
(4) A summary of findings that includes a statement of the | 361 |
actuarial accrued pension liabilities and unfunded actuarial | 362 |
accrued pension liabilities; | 363 |
(5) A schedule showing the effect of any changes in the | 364 |
benefit provisions, actuarial assumptions, or cost methods since | 365 |
the last annual actuarial valuation; | 366 |
(6) A statement of whether contributions to the retirement | 367 |
system are expected to be sufficient to satisfy the funding | 368 |
objectives established by the board. | 369 |
The board shall submit the report to the Ohio retirement | 370 |
study council and the standing committees of the house of | 371 |
representatives and the senate with primary responsibility for | 372 |
retirement legislation not later than the first day of July | 373 |
following the year for which the valuation was made. | 374 |
(B) At such times as the state highway patrol retirement | 375 |
board determines, and at least once in each five-year period after | 376 |
January 1, 1966, the board shall have prepared by or under the | 377 |
supervision of an actuary an actuarial investigation of the | 378 |
mortality, service, and other experience of the members, | 379 |
retirants, and beneficiaries to update the actuarial assumptions | 380 |
used in the actuarial valuation required by division (A) of this | 381 |
section. The actuary shall prepare a report of the actuarial | 382 |
investigation. The report shall be prepared and any recommended | 383 |
changes in actuarial assumptions shall be made in accordance with | 384 |
the actuarial standards of practice promulgated by the actuarial | 385 |
standards board of the American academy of actuaries. The report | 386 |
shall include all of the following: | 387 |
(1) A summary of relevant decrement and economic assumption | 388 |
experience observed over the period of the investigation; | 389 |
(2) Recommended changes in actuarial assumptions to be used | 390 |
in subsequent actuarial valuations required by division (A) of | 391 |
this section; | 392 |
(3) A measurement of the financial effect of the recommended | 393 |
changes in actuarial assumptions; | 394 |
(4) If the investigation required by this division includes | 395 |
the investigation required by division (F) of this section, a | 396 |
report of the result of that investigation. | 397 |
The board shall submit the report to the Ohio retirement | 398 |
study council and the standing committees of the house of | 399 |
representatives and the senate with primary responsibility for | 400 |
retirement legislation not later than the first day of November | 401 |
following the last fiscal year of the period the report covers. | 402 |
(C) The board may at any time request the actuary to make any | 403 |
studies or actuarial valuations to determine the adequacy of the | 404 |
rates of contributions provided by section 5505.15 of the Revised | 405 |
Code. | 406 |
(D) The board shall have prepared by or under the supervision | 407 |
of an actuary an actuarial analysis of any introduced legislation | 408 |
expected to have a measurable financial impact on the retirement | 409 |
system. The actuarial analysis shall be completed in accordance | 410 |
with the actuarial standards of practice promulgated by the | 411 |
actuarial standards board of the American academy of actuaries. | 412 |
The actuary shall prepare a report of the actuarial analysis, | 413 |
which shall include all of the following: | 414 |
(1) A summary of the statutory changes that are being | 415 |
evaluated; | 416 |
(2) A description of or reference to the actuarial | 417 |
assumptions and actuarial cost method used in the report; | 418 |
(3) A description of the participant group or groups included | 419 |
in the report; | 420 |
(4) A statement of the financial impact of the legislation, | 421 |
including the resulting increase, if any, in the employer normal | 422 |
cost percentage; the increase, if any, in actuarial accrued | 423 |
liabilities; and the per cent of payroll that would be required to | 424 |
amortize the increase in actuarial accrued liabilities as a level | 425 |
per cent of covered payroll for all active members over a period | 426 |
not to exceed thirty years; | 427 |
(5) A statement of whether the scheduled contributions to the | 428 |
system after the proposed change is enacted are expected to be | 429 |
sufficient to satisfy the funding objectives established by the | 430 |
board. | 431 |
Not later than sixty days from the date of introduction of | 432 |
the legislation, the board shall submit a copy of the actuarial | 433 |
analysis to the legislative service commission, the standing | 434 |
committees of the house of representatives and the senate with | 435 |
primary responsibility for retirement legislation, and the Ohio | 436 |
retirement study council. | 437 |
(E) The board shall have prepared annually a report giving a | 438 |
full accounting of the revenues and costs relating to the | 439 |
provision of benefits under section 5505.28 of the Revised Code. | 440 |
The report shall be made as of December 31, 1997, and the | 441 |
thirty-first day of December of each year thereafter. The report | 442 |
shall include the following: | 443 |
(1) A description of the statutory authority for the benefits | 444 |
provided; | 445 |
(2) A summary of the benefits; | 446 |
(3) A summary of the eligibility requirements for the | 447 |
benefits; | 448 |
(4) A statement of the number of participants eligible for | 449 |
the benefits; | 450 |
(5) A description of the accounting, asset valuation, and | 451 |
funding method used to provide the benefits; | 452 |
(6) A statement of the net assets available for the provision | 453 |
of the benefits as of the last day of the fiscal year; | 454 |
(7) A statement of any changes in the net assets available | 455 |
for the provision of benefits, including participant and employer | 456 |
contributions, net investment income, administrative expenses, and | 457 |
benefits provided to participants, as of the last day of the | 458 |
fiscal year; | 459 |
(8) For the last six consecutive fiscal years, a schedule of | 460 |
the net assets available for the benefits, the annual cost of | 461 |
benefits, administrative expenses incurred, and annual employer | 462 |
contributions allocated for the provision of benefits; | 463 |
(9) A description of any significant changes that affect the | 464 |
comparability of the report required under this division; | 465 |
(10) A statement of the amount paid under division (B) of | 466 |
section 5505.28 of the Revised Code. | 467 |
The board shall submit the report to the Ohio retirement | 468 |
study council and the standing committees of the house of | 469 |
representatives and the senate with primary responsibility for | 470 |
retirement legislation not later than the thirtieth day of June | 471 |
following the year for which the report was made. | 472 |
(F) At least once in each five-year period, the board shall | 473 |
have prepared by or under the supervision of an actuary an | 474 |
actuarial investigation of the deferred retirement option plan | 475 |
established under section 5505.50 of the Revised Code. The | 476 |
investigation shall include an examination of the financial | 477 |
impact, if any, on the retirement system of offering the plan to | 478 |
members. | 479 |
The actuary shall prepare a report of the actuarial | 480 |
investigation. The report shall include a determination of whether | 481 |
the plan, as established or modified, has a negative financial | 482 |
impact on the retirement system and, if so, recommendations on how | 483 |
to modify the plan to eliminate the negative financial impact. If | 484 |
the actuarial report indicates that the plan has a negative | 485 |
financial impact on the retirement system, the board shall modify | 486 |
the plan. If the board modifies the plan, the rights and | 487 |
obligations of members who have already elected to participate | 488 |
shall not be altered. | 489 |
The state's contributions to the employer accumulation fund | 490 |
shall not be increased to offset any negative financial impact of | 491 |
the deferred retirement option plan. | 492 |
The board may include the actuarial investigation required | 493 |
under this division as part of the actuarial investigation | 494 |
required under division (B) of this section. If the report of the | 495 |
actuarial investigation required by this division is not included | 496 |
in the report required by division (B) of this section, the board | 497 |
shall submit the report required by this division to the Ohio | 498 |
retirement study council and the standing committees of the house | 499 |
of representatives and the senate with primary responsibility for | 500 |
retirement legislation not later than the first day of November | 501 |
following the last fiscal year of the period the report covers. | 502 |
Sec. 5505.18. As used in this section, "member" does not | 503 |
include state highway patrol cadets attending training schools | 504 |
pursuant to section 5503.05 of the Revised Code. | 505 |
(A) Upon the application of a member of the state highway | 506 |
patrol retirement system, a person acting on behalf of a member, | 507 |
or the superintendent of the state highway patrol on behalf of a | 508 |
member, a member who becomes totally and permanently incapacitated | 509 |
for duty in the employ of the state highway patrol may be retired | 510 |
by the board. | 511 |
The medical or psychological examination of a member who has | 512 |
applied for disability retirement shall be conducted by a | 513 |
competent health-care professional or professionals appointed by | 514 |
the board. The health-care professional or professionals shall | 515 |
file a written report with the board containing the following | 516 |
information: | 517 |
(1) Whether the member is totally incapacitated for duty in | 518 |
the employ of the patrol; | 519 |
(2) Whether the incapacity is expected to be permanent; | 520 |
(3) The cause of the member's incapacity. | 521 |
The board shall determine whether the member qualifies for | 522 |
disability retirement and its decision shall be final. The board | 523 |
shall consider the written medical or psychological report, | 524 |
opinions, statements, and other competent evidence in making its | 525 |
determination. If the incapacity is a result of heart disease or | 526 |
any cardiovascular disease of a chronic nature, which disease or | 527 |
any evidence of which was not revealed by the physical examination | 528 |
passed by the member on entry into the patrol, the member is | 529 |
presumed to have incurred the disease in the line of duty as a | 530 |
member of the patrol, unless the contrary is shown by competent | 531 |
evidence. | 532 |
(B)(1) | 533 |
5505.58 of the Revised Code, a member whose retirement on account | 534 |
of disability incurred in the line of duty shall receive the | 535 |
applicable pension provided for in section 5505.17 of the Revised | 536 |
Code, except that if the member has less than twenty-five years of | 537 |
contributing service, the member's service credit shall be deemed | 538 |
to be twenty-five years for the purpose of this provision. In no | 539 |
case shall the member's disability pension be less than sixty-one | 540 |
and one-quarter per cent or exceed the lesser of seventy-nine and | 541 |
one-quarter per cent of the member's final average salary or the | 542 |
limit established by section 415 of the "Internal Revenue Code of | 543 |
1986," 100 Stat. 2085, 26 U.S.C.A. 415, as amended. | 544 |
(2) | 545 |
5505.58 of the Revised Code, a member whose retirement on account | 546 |
of disability incurred not in the line of duty shall receive the | 547 |
applicable pension provided for in section 5505.17 of the Revised | 548 |
Code, except that if the member has less than twenty years of | 549 |
contributing service, the member's service credit shall be deemed | 550 |
to be twenty years for the purpose of this provision. In no case | 551 |
shall the member's disability pension exceed the lesser of | 552 |
seventy-nine and one-quarter per cent of the member's final | 553 |
average salary or the limit established by section 415 of the | 554 |
"Internal Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C.A. 415, | 555 |
as amended. | 556 |
(C) The state highway patrol retirement board shall adopt | 557 |
rules requiring a disability pension recipient, as a condition of | 558 |
continuing to receive a disability pension, to agree in writing to | 559 |
obtain any medical or psychological treatment recommended by the | 560 |
board's health-care professional and submit medical or | 561 |
psychological reports regarding the treatment. If the board | 562 |
determines that a disability pension recipient is not obtaining | 563 |
the medical or psychological treatment or the board does not | 564 |
receive a required medical or psychological report, the disability | 565 |
pension shall be suspended until the treatment is obtained, the | 566 |
report is received by the board, or the board's health-care | 567 |
professional certifies that the treatment is no longer helpful or | 568 |
advisable. Should the recipient's failure to obtain treatment or | 569 |
submit a medical or psychological report continue for one year, | 570 |
the recipient's right to the disability benefit shall be | 571 |
terminated as of the effective date of the original suspension. | 572 |
(D) A member placed on a disability pension who has not | 573 |
attained the age of | 574 |
annual medical or psychological re-examination by health-care | 575 |
professionals appointed by the board, except that the board may | 576 |
waive the re-examination if the board's health-care professionals | 577 |
certify that the member's disability is ongoing. If any member | 578 |
placed on a disability pension refuses to submit to a medical or | 579 |
psychological re-examination, the member's disability pension | 580 |
shall be suspended until the member withdraws the refusal. If the | 581 |
refusal continues for one year, all the member's rights under and | 582 |
to the disability pension shall be terminated as of the effective | 583 |
date of the original suspension. | 584 |
(E) Each recipient of a disability pension who has not | 585 |
attained the age of | 586 |
board an annual statement of earnings, current medical or | 587 |
psychological information on the recipient's condition, and any | 588 |
other information required in rules adopted by the board. The | 589 |
board may waive the requirement that a disability benefit | 590 |
recipient file an annual statement of earnings or current medical | 591 |
or psychological information if the board's health-care | 592 |
professional certifies that the recipient's disability is ongoing. | 593 |
The board shall annually examine the information submitted by | 594 |
the recipient. If a recipient refuses to file the statement or | 595 |
information, the disability pension shall be suspended until the | 596 |
statement and information are filed. If the refusal continues for | 597 |
one year, the right to the pension shall be terminated as of the | 598 |
effective date of the original suspension. | 599 |
(F)(1) Except as provided in division (F)(2) of this section, | 600 |
a retirant who has been on disability pension, and who has been | 601 |
physically or psychologically examined and found no longer | 602 |
incapable of performing the retirant's duties, shall be restored | 603 |
to the rank the retirant held at the time the retirant was | 604 |
pensioned and all previous rights shall be restored, including the | 605 |
retirant's civil service status, and the disability pension shall | 606 |
terminate. Upon return to employment in the patrol, the retirant | 607 |
shall again become a contributing member of the retirement system, | 608 |
the total service at the time of the retirant's retirement shall | 609 |
be restored to the retirant's credit, and the retirant shall be | 610 |
given service credit for the period the retirant was in receipt of | 611 |
a disability pension. The provisions of division (F)(1) of this | 612 |
section shall be retroactive to September 5, 1941. | 613 |
(2) The state highway patrol is not required to take action | 614 |
under division (F)(1) of this section if the retirant was | 615 |
dismissed or resigned in lieu of dismissal for dishonesty, | 616 |
misfeasance, malfeasance, or conviction of a felony. | 617 |
(G) The board may adopt rules to carry out this section, | 618 |
including rules that specify the types of health-care | 619 |
professionals the board may appoint for the purpose of this | 620 |
section. | 621 |
Sec. 5505.50. The state highway patrol retirement board | 622 |
shall establish and administer a deferred retirement option plan. | 623 |
In establishing and administering the plan, the board shall comply | 624 |
with sections 5505.51 to 5505.59 of the Revised Code and may do | 625 |
all things necessary to meet the requirements of section 401(a) of | 626 |
the "Internal Revenue Code of 1986," (26 U.S.C. 401(a)) as | 627 |
amended, applicable to governmental plans. | 628 |
The board shall adopt rules to implement this section and | 629 |
sections 5505.51 to 5505.59 of the Revised Code. The rules shall | 630 |
specify the date of initial implementation of the plan established | 631 |
under this section. The rules may also specify a period during | 632 |
which an election made under section 5505.51 of the Revised Code | 633 |
may be rescinded. | 634 |
Sec. 5505.51. A state highway patrol retirement system member | 635 |
who meets the following requirements may, at any time prior to | 636 |
applying for a pension under section 5505.16 of the Revised Code, | 637 |
elect to participate in the deferred retirement option plan | 638 |
established under section 5505.50 of the Revised Code: | 639 |
(1) The member is younger than fifty-eight years of age. | 640 |
(2) The member is eligible to apply for a pension under | 641 |
section 5505.16 of the Revised Code, unless the pension is a | 642 |
reduced pension as described in division (B) of that section. | 643 |
The member shall make the election by filing with the | 644 |
retirement system an election form provided by the system. The | 645 |
election is effective on the day the member files the election | 646 |
form. | 647 |
At the time of making the election to participate in the | 648 |
deferred retirement option plan, the member also shall make an | 649 |
election under section 5505.162 of the Revised Code. Except as | 650 |
provided in that section, the election under section 5505.162 of | 651 |
the Revised Code is irrevocable from the date it is received by | 652 |
the retirement system. | 653 |
A member electing to participate in the deferred retirement | 654 |
option plan must agree to terminate active service in the state | 655 |
highway patrol and begin receiving the member's pension not later | 656 |
than the earlier of the member's sixtieth birthday or the date | 657 |
that is eight years after the effective date of the election to | 658 |
participate in the plan. If the member refuses or neglects to | 659 |
terminate active service in accordance with the agreement, the | 660 |
state highway patrol retirement board shall deem the member's | 661 |
service terminated. | 662 |
A member electing to participate in the deferred retirement | 663 |
option plan is a benefit recipient for the purposes of rules | 664 |
adopted by the state highway patrol retirement board. | 665 |
Sec. 5505.52. (A) A member who makes an election under | 666 |
section 5505.51 of the Revised Code shall continue in the active | 667 |
service of the state highway patrol but shall not earn service | 668 |
credit under this chapter for employment after the election's | 669 |
effective date. While the member is in the active service of the | 670 |
state highway patrol, the member shall contribute, and the state | 671 |
shall contribute and report, to the state highway patrol | 672 |
retirement system in accordance with section 5505.15 of the | 673 |
Revised Code. | 674 |
On and after the effective date of the member's election to | 675 |
participate in the deferred retirement option plan, the member is | 676 |
ineligible to purchase service credit under this chapter. | 677 |
Neither the member nor the member's spouse and dependents are | 678 |
eligible for any benefit under section 5505.28 of the Revised Code | 679 |
while the member is participating in the deferred retirement | 680 |
option plan. | 681 |
(B) A member participating in the deferred retirement option | 682 |
plan is eligible to vote in elections for the retirant members of | 683 |
the state highway patrol retirement system board, but not eligible | 684 |
to vote in elections for the employee members of the board. | 685 |
Sec. 5505.53. For each member who elects to participate in | 686 |
the deferred retirement option plan, the state highway patrol | 687 |
retirement system shall determine the member's pension amount | 688 |
under section 5505.17 of the Revised Code. In determining the | 689 |
pension amount, the retirement system shall use the member's total | 690 |
service credit and final average salary as of the last day of the | 691 |
employer's payroll period immediately prior to the effective date | 692 |
of the member's election to participate in the plan. The pension | 693 |
amount shall be calculated using the election made by the member | 694 |
under section 5505.162 of the Revised Code. | 695 |
Sec. 5505.54. (A) During the period beginning on the | 696 |
effective date of an election to participate in the deferred | 697 |
retirement option plan and ending on the date participation | 698 |
ceases, a member's monthly pension amount determined under section | 699 |
5505.53 of the Revised Code shall accrue to the member's benefit. | 700 |
To this amount shall be added any benefit increases the member | 701 |
would be eligible for under section 5505.174 of the Revised Code | 702 |
had the member, on the effective date of the member's election, | 703 |
retired under section 5505.16 of the Revised Code. | 704 |
(B)(1) The amounts contributed under section 5505.15 of the | 705 |
Revised Code by a member participating in the deferred retirement | 706 |
option plan shall accrue to the member's benefit. | 707 |
(2) The state highway patrol retirement system shall credit | 708 |
to the employer's accumulation fund the amounts contributed by the | 709 |
state under section 5505.15 of the Revised Code on behalf of a | 710 |
member participating in the deferred retirement option plan. | 711 |
(C) During the period beginning on the election's effective | 712 |
date and ending on the date the member ceases participation in the | 713 |
plan, the amounts described in divisions (A) and (B)(1) of this | 714 |
section shall earn interest at an annual rate established by the | 715 |
state highway patrol retirement board and compounded annually | 716 |
using a method established by rule adopted under section 5505.50 | 717 |
of the Revised Code. | 718 |
Sec. 5505.55. A member's participation in the deferred | 719 |
retirement option plan ceases on the occurrence of the earliest of | 720 |
the following: | 721 |
(A) Termination of the member's active service in the state | 722 |
highway patrol; | 723 |
(B) The last day of the eight-year period that begins on the | 724 |
effective date of the member's election to participate in the | 725 |
plan; | 726 |
(C) The member's sixtieth birthday; | 727 |
(D) Acceptance by the member of a disability benefit awarded | 728 |
by the state highway patrol retirement board under section 5505.18 | 729 |
of the Revised Code; | 730 |
(E) The member's death. | 731 |
Sec. 5505.56. (A) A member participating in the deferred | 732 |
retirement option plan who terminates active service in the state | 733 |
highway patrol shall notify the state highway patrol retirement | 734 |
system of the date of termination on a form prescribed by the | 735 |
retirement system. The member is not eligible to make another | 736 |
election under section 5505.51 of the Revised Code. | 737 |
(B)(1) With regard to a member who was younger than age | 738 |
fifty-two on the effective date of the election to participate in | 739 |
the plan, if the date of termination of the member's active | 740 |
service occurs on or after the first day of the fourth year after | 741 |
the effective date of the election, the entire amount that has | 742 |
accrued to the member's benefit under the deferred retirement | 743 |
option plan shall be distributed to the member pursuant to the | 744 |
member's selection under section 5505.57 of the Revised Code. | 745 |
If the date of termination occurs earlier than four years | 746 |
after the effective date of the election to participate, the | 747 |
member shall forfeit the interest credited under division (C) of | 748 |
section 5505.54 of the Revised Code. | 749 |
(2) With regard to a member who, on the effective date of the | 750 |
election to participate in the plan, was age fifty-two or older, | 751 |
if the date of termination of the member's active service occurs | 752 |
on or after the first day of the third year after the effective | 753 |
date of the election, the entire amount that has accrued to the | 754 |
member's benefit under the deferred retirement option plan shall | 755 |
be distributed to the member pursuant to the member's selection | 756 |
under section 5505.57 of the Revised Code. | 757 |
If the termination of active service occurs earlier than | 758 |
three years after the effective date of the election to | 759 |
participate, the member shall forfeit the interest credited under | 760 |
division (C) of section 5505.54 of the Revised Code. | 761 |
(C) Once a member ceases participation in the deferred | 762 |
retirement option plan as described in division (A), (B), or (C) | 763 |
of section 5505.55 of the Revised Code, the member's monthly | 764 |
pension amount determined under section 5505.53 of the Revised | 765 |
Code shall be paid to the member, commencing the day following the | 766 |
member's last day of active service in the state highway patrol. | 767 |
Sec. 5505.57. (A) On ceasing participation in the deferred | 768 |
retirement option plan as described in division (A), (B), or (C) | 769 |
of section 5505.55 of the Revised Code, a member shall select as | 770 |
the method of distribution of the amount accrued to the member | 771 |
under the plan one of the distribution options provided under | 772 |
section 401(a) of the "Internal Revenue Code of 1986," (26 U.S.C. | 773 |
401(a)) as amended, applicable to governmental plans. | 774 |
(B) The retirement system shall distribute the amount accrued | 775 |
to a member's benefit under the deferred retirement option plan as | 776 |
follows: | 777 |
(1) For a member who was younger than fifty-two years of age | 778 |
on the date of the election to participate in the plan, | 779 |
distribution shall not commence until the first day of the fourth | 780 |
year after the effective date of the member's election to | 781 |
participate in the plan. | 782 |
(2) For a member who was fifty-two years of age or older on | 783 |
the date of the election to participate in the plan, distribution | 784 |
shall not commence until the first day of the third year after the | 785 |
effective date of the member's election to participate in the | 786 |
plan. | 787 |
Sec. 5505.58. (A) A member participating in the deferred | 788 |
retirement option plan who qualifies for disability retirement | 789 |
under division (B)(1) of section 5505.18 of the Revised Code shall | 790 |
elect to receive one of the following: | 791 |
(1) The applicable pension provided for in section 5505.53 of | 792 |
the Revised Code, plus any amounts that have accrued under section | 793 |
5505.54 of the Revised Code to the member's benefit under the | 794 |
deferred retirement option plan. | 795 |
(2) The disability pension provided for by division (B)(1) of | 796 |
section 5505.18 of the Revised Code. Acceptance of a disability | 797 |
pension requires forfeiture of all amounts accrued under section | 798 |
5505.54 of the Revised Code to the member's benefit under the | 799 |
deferred retirement option plan, and those amounts shall be | 800 |
treated as if the member had continued in the active service of | 801 |
the state highway patrol and not participated in the plan. The | 802 |
member shall be granted service credit for the period the member | 803 |
was participating in the plan. | 804 |
(B) A member participating in the deferred retirement option | 805 |
plan who qualifies for disability retirement under division (B)(2) | 806 |
of section 5505.18 of the Revised Code shall receive the | 807 |
applicable pension provided for in section 5505.53 of the Revised | 808 |
Code, plus any amounts that have accrued under section 5505.54 of | 809 |
the Revised Code to the member's benefit under the deferred | 810 |
retirement option plan. | 811 |
Sec. 5505.59. If a member dies while participating in the | 812 |
deferred retirement option plan, all of the following apply: | 813 |
(A) The amounts accrued to the member's benefit shall be paid | 814 |
to the member's surviving spouse or, if there is no surviving | 815 |
spouse, the beneficiary designated by the member on a form | 816 |
provided by the state highway patrol retirement system. If there | 817 |
is no surviving spouse or designated beneficiary, the amounts | 818 |
accrued to the member's benefit shall be paid to the member's | 819 |
estate. | 820 |
Any payment made under this division shall be made in the | 821 |
form of a single lump sum payment. | 822 |
(B) The surviving spouse and, if eligible, each surviving | 823 |
child, shall receive a pension as described in division | 824 |
(A)(3)(b)(iii) or (4) of section 5505.17 of the Revised Code, | 825 |
utilizing the pension amount calculated under section 5505.53 of | 826 |
the Revised Code. | 827 |
(C) If the member has no surviving spouse or surviving | 828 |
children, but has a parent or parents dependent on the member for | 829 |
support, the parent or parents shall receive a pension determined | 830 |
under division (A)(7) of section 5505.17 of the Revised Code. | 831 |
(D) The lump sum payment described in section 5505.30 of the | 832 |
Revised Code shall be paid to the member's surviving spouse or, if | 833 |
there is no surviving spouse, to the member's estate. | 834 |
Section 2. That existing sections 742.63, 5505.12, and | 835 |
5505.18 of the Revised Code are hereby repealed. | 836 |