Section 1. That sections 3305.06, 3307.01, 3307.031, 3307.04, | 25 |
3307.044, 3307.061, 3307.14, 3307.142, 3307.20, 3307.214, 3307.25, | 26 |
3307.251, 3307.252, 3307.26, 3307.28, 3307.33, 3307.35, 3307.351, | 27 |
3307.352, 3307.371, 3307.39, 3307.391, 3307.42, 3307.46, 3307.47, | 28 |
3307.50, 3307.501, 3307.51, 3307.512, 3307.52, 3307.53, 3307.56, | 29 |
3307.561, 3307.562, 3307.563, 3307.57, 3307.58, 3307.59, 3307.60, | 30 |
3307.62, 3307.63, 3307.631, 3307.64, 3307.66, 3307.661, 3307.67, | 31 |
3307.671, 3307.694, 3307.71, 3307.711, 3307.712, 3307.72, 3307.73, | 32 |
3307.74, 3307.75, 3307.751, 3307.752, 3307.76, 3307.761, 3307.763, | 33 |
3307.764, 3307.77, 3307.771, 3307.78, 3307.79, 3307.80, 3307.81, | 34 |
3307.811, 3307.812, 3307.83, 3307.84, 3307.86, 3307.87, 3307.89, | 35 |
3307.98, and 3313.975 be amended; sections 3307.64 (3307.48) and | 36 |
3307.70 (3307.701) be amended for the purpose of adopting new | 37 |
section numbers as indicated in parentheses; and new section | 38 |
3307.70 and section 3307.143 of the Revised Code be enacted to | 39 |
read as follows: | 40 |
Sec. 3305.06. (A) Each electing employee shall contribute an | 41 |
amount, which shall be a certain percentage of the employee's | 42 |
compensation, to the provider of the investment option the | 43 |
employee has selected. This percentage shall be the percentage the | 44 |
electing employee would have otherwise been required to contribute | 45 |
to the state retirement system that applies to the employee's | 46 |
position, except that the percentage shall not be less than three | 47 |
per cent. Employee contributions under this division may be | 48 |
treated as employer contributions in accordance with Internal | 49 |
Revenue Code 414(h). | 50 |
(B) Each public institution of higher education employing an | 51 |
electing employee shall contribute a percentage of the employee's | 52 |
compensation to the provider of the investment option the employee | 53 |
has selected. This percentage shall be equal to the percentage | 54 |
that the public institution of higher education would otherwise | 55 |
contribute on behalf of that employee to the state retirement | 56 |
system that would otherwise cover that employee's position, less | 57 |
the percentage contributed by the public institution of higher | 58 |
education under division (D) of this section. | 59 |
(D) Each public institution of higher education employing an | 72 |
electing employee shall contribute on behalf of that employee to | 73 |
the state retirement system that otherwise applies to the electing | 74 |
employee's position a percentage of the electing employee's | 75 |
compensation to mitigate any negative financial impact of the | 76 |
alternative retirement program on the state retirement system. The | 77 |
percentage shall be six per cent, except that the percentage may | 78 |
be adjusted by the Ohio retirement study council to reflect the | 79 |
determinations made by actuarial studies conducted under section | 80 |
171.07 of the Revised Code. Any adjustment shall become effective | 81 |
on the first day of the second month following submission of the | 82 |
actuarial study to the board of regents under section 171.07 of | 83 |
the Revised Code. | 84 |
(1) If the electing employee would be subject to Chapter 145. | 88 |
of the Revised Code had the employee not made an election pursuant | 89 |
to section 3305.05 or 3305.051 of the Revised Code, until the | 90 |
unfunded actuarial accrued liability for all benefits, except | 91 |
health care benefits provided under section 145.325 or 145.58 of | 92 |
the Revised Code and benefit increases provided after March 31, | 93 |
1997, is fully amortized, as determined by the annual actuarial | 94 |
valuation prepared under section 145.22 of the Revised Code; | 95 |
(2) If the electing employee would be subject to Chapter | 96 |
3307. of the Revised Code had the employee not made an election | 97 |
pursuant to section 3305.05 or 3305.051 of the Revised Code, until | 98 |
the unfunded actuarial accrued liability for all benefits, except | 99 |
health care benefits provided under section 3307.39 or 3307.61 of | 100 |
the Revised Code and benefit increases provided after March 31, | 101 |
1997, is fully amortized, as determined by the annual actuarial | 102 |
valuation prepared under section 3307.51 of the Revised Code; | 103 |
(3) If the electing employee would be subject to Chapter | 104 |
3309. of the Revised Code had the employee not made an election | 105 |
pursuant to section 3305.05 or 3305.051 of the Revised Code, until | 106 |
the unfunded actuarial accrued liability for all benefits, except | 107 |
health care benefits provided under section 3309.375 or 3309.69 of | 108 |
the Revised Code and benefit increases provided after March 31, | 109 |
1997, is fully amortized, as determined by the annual actuarial | 110 |
valuation prepared under section 3309.21 of the Revised Code. | 111 |
(A) "Employer" means the board of education, school district, | 113 |
governing authority of any community school established under | 114 |
Chapter 3314. of the Revised Code, a science, technology, | 115 |
engineering, and mathematics school established under Chapter | 116 |
3326. of the Revised Code, college, university, institution, or | 117 |
other agency within the state by which a teacher is employed and | 118 |
paid. | 119 |
(L)(1) Except as provided in this division, "compensation" | 218 |
means all salary, wages, and other earnings paid to a teacher by | 219 |
reason of the teacher's employment, including compensation paid | 220 |
pursuant to a supplemental contract. The salary, wages, and other | 221 |
earnings shall be determined prior to determination of the amount | 222 |
required to be contributed to the teachers' savings fund or | 223 |
defined contribution fund under section 3307.26 of the Revised | 224 |
Code and without regard to whether any of the salary, wages, or | 225 |
other earnings are treated as deferred income for federal income | 226 |
tax purposes. | 227 |
(i) Payments made to or on behalf of a teacher that are in | 278 |
excess of the annual compensation that may be taken into account | 279 |
by the retirement system under division (a)(17) of section 401 of | 280 |
the "Internal Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C.A. | 281 |
401(a)(17), as amended. For a teacher who first establishes | 282 |
membership before July 1, 1996, the annual compensation that may | 283 |
be taken into account by the retirement system shall be determined | 284 |
under division (d)(3) of section 13212 of the "Omnibus Budget | 285 |
Reconciliation Act of 1993," Pub. L. No. 103-66, 107 Stat. 472. | 286 |
Sec. 3307.04. The general administration and the management | 341 |
of the state teachers retirement system is hereby vested in the | 342 |
state teachers retirement board, which shall adopt rules necessary | 343 |
for the fulfillment of its duties and responsibilities under | 344 |
Chapter 3307. of the Revised Code. The board shall adopt policies | 345 |
for the operation of the system, and the investment of funds as | 346 |
provided by section 3307.15 of the Revised Code, and may authorize | 347 |
its administrative officers, or committees composed of board | 348 |
members, to act for the board in accord with such policies and | 349 |
subject to subsequent approval by the board. | 350 |
The attorney general shall prescribe procedures for the | 357 |
adoption of rules authorized under this chapter, consistent with | 358 |
the provision of section 111.15 of the Revised Code under which | 359 |
all rules shall be filed in order to be effective. Such procedures | 360 |
shall establish methods by which notice of proposed rules is given | 361 |
to interested parties and rules adopted by the board published and | 362 |
otherwise made available. When it files a rule with the joint | 363 |
committee on agency rule review pursuant to section 111.15 of the | 364 |
Revised Code, the board shall submit to the Ohio retirement study | 365 |
council a copy of the full text of the rule, and if applicable, a | 366 |
copy of the rule summary and fiscal analysis required by division | 367 |
(B) of section 127.18 of the Revised Code. | 368 |
Sec. 3307.061. (A) The office of a contributing member or | 383 |
retired teacher member of the state teachers retirement board who | 384 |
is convicted of or pleads guilty to a felony, a theft offense as | 385 |
defined in section 2913.01 of the Revised Code, or a violation of | 386 |
section 102.02, 102.03, 102.04, 2921.02, 2921.11, 2921.13, | 387 |
2921.31, 2921.41, 2921.42, 2921.43, or 2921.44 of the Revised Code | 388 |
shall be deemed vacant. A person who has pleaded guilty to or been | 389 |
convicted of an offense of that nature is ineligible for election | 390 |
or appointment to the office of contributing or retired teacher | 391 |
member of the state teachers retirement board. | 392 |
(B) A member of the state teachers retirement board who | 393 |
willfully and flagrantly exercises authority or power not | 394 |
authorized by law, refuses or willfully neglects to enforce the | 395 |
law or to perform any official duty imposed by law, or is guilty | 396 |
of gross neglect of duty, gross immorality, drunkenness, | 397 |
misfeasance, malfeasance, or nonfeasance is guilty of misconduct | 398 |
in office. On complaint and hearing in the manner provided for in | 399 |
this section, the board member shall have judgment of forfeiture | 400 |
of the office with all its emoluments entered against the board | 401 |
member, creating in the office a vacancy to be filled as provided | 402 |
by law. | 403 |
(2) Cause a copy of the complaint to be served on the board | 451 |
member at least ten days before the hearing on the complaint. The | 452 |
court shall hold a public hearing not later than thirty days after | 453 |
the filing of the complaint. The court may subpoena witnesses and | 454 |
compel their attendance in the same manner as in civil cases. | 455 |
Process shall be served by the sheriff of the county in which the | 456 |
witness resides. Witness fees and other fees in connection with | 457 |
the proceedings shall be the same as in civil cases. The court may | 458 |
suspend the board member pending the hearing. | 459 |
(A) The "teachers' savings fund" is the fund in which shall | 473 |
be accumulated the contributions deducted from the compensation of | 474 |
teachers participating in the STRS defined benefit plan described | 475 |
in sections 3307.50 to 3307.79 of the Revised Code, as provided by | 476 |
section 3307.26 of the Revised Code, together with the interest | 477 |
credited thereon. Such accumulated contributions refunded upon | 478 |
withdrawal, or payable to an estate or beneficiary as provided in | 479 |
this chapter, shall be paid from this fund. Any accumulated | 480 |
contributions forfeited by the failure of a contributor, an | 481 |
estate, or a beneficiary to claim the same shall be transferred | 482 |
from this fund to the guarantee fund. The accumulated | 483 |
contributions of a member or of a teacher who qualifies for a | 484 |
benefit under section 3307.35 of the Revised Code shall be | 485 |
transferred at the member's or teacher's retirement from the | 486 |
teachers' savings fund to the annuity and pension reserve fund. | 487 |
The accumulated contributions of a member who dies prior to | 488 |
superannuation retirement that are forfeited by the qualified | 489 |
beneficiary in exchange for monthly survivor benefits, as provided | 490 |
by section 3307.66 of the Revised Code, shall be transferred to | 491 |
the survivors' benefit fund. The accumulated contributions of a | 492 |
superannuate or other system retirant as defined in section | 493 |
3307.35 of the Revised Code shall be transferred to the survivors' | 494 |
benefit fund for payment of a lump-sum benefit to a beneficiary as | 495 |
provided in that section. As used in this division, "accumulated | 496 |
contributions" has the same meaning as in section 3307.50 of the | 497 |
Revised Code. | 498 |
(B) The "employers' trust fund" is the fund to which the | 499 |
employer contribution made on behalf of a teacher participating in | 500 |
the STRS defined benefit plan
described in sections 3307.50 to | 501 |
3307.79 of the Revised Code shall be credited and in which shall | 502 |
be accumulated the reserves held in trust for the payment of all | 503 |
pensions or other benefits provided by sections 3307.35, 3307.58, | 504 |
3307.59, 3307.60, 3307.63, 3307.631, 3307.66, 3307.6912, and | 505 |
3307.98 of the Revised Code, to teachers retiring or receiving | 506 |
disability benefits in the future or to their qualified | 507 |
beneficiaries, and from which the reserves for such pensions and | 508 |
other benefits shall be transferred to the annuity and pension | 509 |
reserve fund and to the survivors' benefit fund. The balances as | 510 |
of August 31, 1957, in the employers accumulation fund shall be | 511 |
transferred to this fund. As of September 1, 1957, an additional | 512 |
amount shall be transferred from the employers' trust fund to the | 513 |
annuity and pension reserve fund in the amount required to | 514 |
complete the funding of the prior service, as defined in section | 515 |
3307.50 of the Revised Code, and military service pensions then | 516 |
payable. | 517 |
(E) The "guarantee fund" is the fund from which interest is | 530 |
transferred and credited on the amounts in the funds described in | 531 |
divisions (A), (B), (C), and (D) of this section, and is a | 532 |
contingent fund from which the special requirements of said funds | 533 |
may be paid by transfer from this fund. All income derived from | 534 |
the investment of funds by the state teachers retirement board as | 535 |
trustee under section 3307.15 of the Revised Code, together with | 536 |
all gifts and bequests, or the income therefrom, shall be paid | 537 |
into this fund. | 538 |
Any deficit occurring in any other fund that will not be | 539 |
covered by payments to that fund, as otherwise provided in this | 540 |
chapter, shall be paid by transfers of amounts from the guarantee | 541 |
fund to such fund or funds. Should the amount in the guarantee | 542 |
fund be insufficient at any time to meet the amounts payable | 543 |
therefrom, the amount of such deficiency, with regular interest, | 544 |
shall be paid by an additional employer rate of contribution as | 545 |
determined by the actuary and shall be approved by the board, and | 546 |
the amount of such additional employer contribution shall be | 547 |
credited to the guarantee fund. | 548 |
Sec. 3307.142. (A) Interest compounded annually shall be | 574 |
credited to the accounts of members participating in the STRS | 575 |
defined benefit plan described in sections 3307.50 to 3307.79 of | 576 |
the Revised Code and to the various funds listed in divisions (A) | 577 |
to (F) of section 3307.14 of the Revised Code, and shall be | 578 |
assumed in determining actuarial factors, at rates recommended by | 579 |
the actuary and approved by the state teachers retirement board, | 580 |
but not less than three and twenty-five hundredths per cent | 581 |
effective September 1, 1965, except as follows: | 582 |
(1) "Personal history record" means information maintained by | 611 |
the state teachers retirement board on an individual who is a | 612 |
member, former member, contributor, former contributor, retirant, | 613 |
or beneficiary that includes the address, electronic mail address, | 614 |
telephone number, social security number, record of contributions, | 615 |
correspondence with the state teachers retirement system, or other | 616 |
information the board determines to be confidential. | 617 |
(1) If a member, former member, retirant, contributor, or | 656 |
former contributor is subject to an order issued under section | 657 |
2907.15 of the Revised Code or an order issued under division (A) | 658 |
or (B) of section 2929.192 of the Revised Code or is convicted of | 659 |
or pleads guilty to a violation of section 2921.41 of the Revised | 660 |
Code, on written request of a prosecutor as defined in section | 661 |
2935.01 of the Revised Code, the board shall furnish to the | 662 |
prosecutor the information requested from the individual's | 663 |
personal history record. | 664 |
(4) Within fourteen days after receiving from the director of | 674 |
job and family services a list of the names and social security | 675 |
numbers of recipients of public assistance pursuant to section | 676 |
5101.181 of the Revised Code, the board shall inform the auditor | 677 |
of state of the name, current or most recent employer address, and | 678 |
social security number of each member whose name and social | 679 |
security number are the same as that of a person whose name or | 680 |
social security number was submitted by the director. The board | 681 |
and its employees shall, except for purposes of furnishing the | 682 |
auditor of state with information required by this section, | 683 |
preserve the confidentiality of recipients of public assistance in | 684 |
compliance with section 5101.181 of the Revised Code. | 685 |
(6) At the request of any person, the board shall make | 693 |
available to the person copies of all documents, including | 694 |
resumes, in the board's possession regarding filling a vacancy of | 695 |
a contributing member or retired teacher member of the board. The | 696 |
person who made the request shall pay the cost of compiling, | 697 |
copying, and mailing the documents. The information described in | 698 |
this division is a public record. | 699 |
Sec. 3307.25. (A) An individual who becomes a member of the | 714 |
state teachers retirement system on or after the date on which the | 715 |
state teachers retirement board establishes
aan STRS defined | 716 |
contribution plan under section 3307.81 of the Revised Code shall | 717 |
make an election under this section. Not later than one hundred | 718 |
eighty days after the date on which employment begins, the | 719 |
individual shall elect to participate either in the STRS defined | 720 |
benefit plan described in sections 3307.50 to 3307.79 of the | 721 |
Revised Code or one of the STRS defined contribution plans | 722 |
established under section 3307.81 of the Revised Code. If a form | 723 |
evidencing an election under this section is not on file with the | 724 |
system at the end of the one-hundred-eighty-day period, the | 725 |
individual is deemed to have elected to participate in the STRS | 726 |
defined benefit plan described in sections 3307.50 to 3307.79 of | 727 |
the Revised Code. | 728 |
(1) At the time employment begins, the individual is already | 738 |
a member or contributor participating in the STRS defined benefit | 739 |
plan described in sections 3307.50 to 3307.79 of the Revised Code, | 740 |
a former member who has previously made an election under division | 741 |
(E) of this section or section 3307.251 of the Revised Code, a | 742 |
superannuate of the system, or an other system retirant, as | 743 |
defined in section 3307.35 of the Revised Code; | 744 |
(E) A member who elected under division (A) of this section | 748 |
to participate in an STRS defined contribution plan may make an | 749 |
election to cease participation in the plan elected and | 750 |
participate in the STRS defined benefit plan or in another STRS | 751 |
defined contribution plan. The election must be made, on a form | 752 |
provided by the system, not later than the first day of June | 753 |
preceding the first day of July following the fourth anniversary | 754 |
of the commencement of the member's participation in the original | 755 |
plan. | 756 |
Not later than one hundred eighty days after the day the | 802 |
state teachers retirement board first establishes one or more | 803 |
plans under section 3307.81 of the Revised Codean STRS defined | 804 |
contribution plan, an eligible member may elect to participate in | 805 |
such a plan established under that section. If an election is not | 806 |
made, a member to whom this section applies is deemed to have | 807 |
elected to continue participating in the STRS defined benefit plan | 808 |
described in sections 3307.50 to 3307.79 of the Revised Code. | 809 |
Sec. 3307.252. A member of the state teachers retirement | 824 |
system who elects to participate in aan STRS defined contribution | 825 |
plan established under section 3307.81 of the Revised Code shall | 826 |
be ineligible for any benefit or payment under
sections 3307.50 to | 827 |
3307.79 of the Revised Codethe STRS defined benefit plan and, | 828 |
except as provided in section 3307.883307.25 of the Revised Code, | 829 |
shall be forever barred from claiming or purchasing service credit | 830 |
with the system or any other Ohio state retirement system, as | 831 |
defined in section 3307.741 of the Revised Code, for service | 832 |
covered by the election. | 833 |
(B) For teachers participating in the STRS defined benefit | 858 |
plan described in sections 3307.50 to 3307.79 of the Revised Code, | 859 |
contributions shall be deposited in the teachers' savings fund. | 860 |
For teachers participating in aan STRS defined contribution plan | 861 |
established under section 3307.81 of the Revised Code, | 862 |
contributions shall be deposited in the defined contribution fund. | 863 |
Contributions made pursuant to this section shall not exceed the | 864 |
limits established by section 415 of the "Internal Revenue Code of | 865 |
1986," 100 Stat. 2085, 26 U.S.C.A. 415, as amended. | 866 |
(C) The contribution for all teachers shall be deducted by | 867 |
the employer on each payroll in an amount equal to the applicable | 868 |
per cent of the teachers' paid compensation for such payroll | 869 |
period or other period as the board may approve. All contributions | 870 |
on paid compensation for teachers participating in plans | 871 |
established under section 3307.81 of the Revised Codean STRS | 872 |
defined contribution plan shall be remitted at intervals required | 873 |
by the state teachers retirement system under section 3307.86 of | 874 |
the Revised Code. All contributions on earned compensation for | 875 |
teachers participating in the STRS defined benefit plan described | 876 |
in sections 3307.50 to 3307.79 of the Revised Code shall be | 877 |
remitted to the state teachers retirement system by the thirtieth | 878 |
day of June of each year. Each school district shall encumber | 879 |
sufficient moneys by the thirtieth day of June of each year to | 880 |
account for the difference, if any, that may exist between | 881 |
contributions that would be withheld based upon compensation | 882 |
earned by a teacher during the year ending the thirtieth day of | 883 |
June and the contributions withheld based upon compensation paid | 884 |
to the teacher for the year. Deductions from payroll for | 885 |
contributions under this section, on an annual basis, shall not | 886 |
exceed eight per cent or other percentage established by the board | 887 |
authorized by this section. | 888 |
(D) At retirement under the STRS defined benefit plan | 889 |
described in sections 3307.50 to 3307.79 of the Revised Code, or | 890 |
upon a member's death prior to retirement under that plan, if | 891 |
contributions have been made after September 1, 1959, in excess of | 892 |
the contributions normally required to provide the retirement or | 893 |
survivor benefit, the excess contributions may be refunded to the | 894 |
member, to the member's beneficiary, or to the member's estate in | 895 |
a lump sum, or may be used to provide additional income. | 896 |
(E) The board may determine with regard to any member | 897 |
participating in the STRS defined benefit plan described in | 898 |
sections 3307.50 to 3307.79 of the Revised Code whether the limits | 899 |
established by division
(C)(D) of section 3307.58 of the Revised | 900 |
Code have resulted in exclusion from use in the calculation of | 901 |
benefits under section 3307.58, 3307.59, or 3307.60 of the Revised | 902 |
Code of any compensation on which contributions have been made | 903 |
under this section. The board may adopt rules in accordance with | 904 |
section 111.15 of the Revised Code providing for the disposition | 905 |
of contributions attributable to such compensation and may dispose | 906 |
of the contributions in accordance with those rules. Any | 907 |
disposition of contributions made by the board in accordance with | 908 |
the rules shall be final. | 909 |
(G) Additional deposits may be made to a member's account in | 917 |
the teachers' savings fund or defined contribution fund, subject | 918 |
to rules of the board. At retirement, the amount deposited with | 919 |
interest may be used to provide additional annuity income. The | 920 |
additional deposits may be refunded to the member before | 921 |
retirement, and shall be refunded if the member withdraws the | 922 |
member's refundable account. The deposits may be refunded to the | 923 |
beneficiary or estate if the member dies before retirement. | 924 |
Sec. 3307.28. Each employer shall pay annually to the state | 925 |
teachers retirement system an amount certified by the secretary | 926 |
which shall be a certain per cent of the earnable compensation of | 927 |
all members, and which shall be known as the "employer | 928 |
contribution." For members participating in the STRS defined | 929 |
benefit plan described in sections 3307.50 to 3307.79 of the | 930 |
Revised Code, the employer contribution shall be deposited into | 931 |
the employers' trust fund. For members participating in aan STRS | 932 |
defined contribution plan established under section 3307.81 of the | 933 |
Revised Code, the employer contribution shall be deposited into | 934 |
the defined contribution fund in accordance with the plan selected | 935 |
by the member, less the amount transferred under section 3307.84 | 936 |
of the Revised Code. | 937 |
The rate per cent of the contribution shall be fixed by the | 938 |
actuary on the basis of the actuary's evaluation of the | 939 |
liabilities of the system, not to exceed fourteen per cent, and | 940 |
shall be approved by the state teachers retirement board. The | 941 |
board may raise the rate per cent of the contribution to fourteen | 942 |
per cent of the earnable compensation of all members. In making | 943 |
such evaluation, the actuary shall use, as the actuarial | 944 |
assumptions, such interest rates and mortality and other tables as | 945 |
are adopted by the board. The actuary shall compute the percentage | 946 |
of such earnable compensation, to be known as the "employer rate," | 947 |
required annually to fund the liability for all benefits under | 948 |
sections 3307.50 to 3307.79 of the Revised Codethe STRS defined | 949 |
benefit plan, after deducting therefrom the benefits provided by | 950 |
the member's accumulated contributions, as defined in section | 951 |
3307.50 of the Revised Code, deposits, and other appropriations, | 952 |
and to fund any deficiencies in the funds described in divisions | 953 |
(A) to (F) of section 3307.14 of the Revised Code. | 954 |
Sec. 3307.33. Membership in the state teachers retirement | 955 |
system shall cease on occurrence of any of the following: receipt | 956 |
of payment pursuant to section 3307.56 of the Revised Code or | 957 |
under aan STRS defined contribution plan
established under | 958 |
section 3307.81 of the Revised Code; retirement as provided in | 959 |
sections 3307.58 and 3307.59 of the Revised Code or under aan | 960 |
STRS defined contribution plan
established under section 3307.81 | 961 |
of the Revised Code; death; or denial of membership pursuant to | 962 |
section 3307.24 of the Revised Code. | 963 |
(1) A member or former member of the public employees | 967 |
retirement system, Ohio police and fire pension fund, school | 968 |
employees retirement system, state highway patrol retirement | 969 |
system, or Cincinnati retirement system who is receiving from a | 970 |
system of which the retirant is a member or former member age and | 971 |
service or commuted age and service retirement, a benefit, | 972 |
allowance, or distribution under a plan established under section | 973 |
145.81 or 3309.81 of the Revised Code, or a disability benefit | 974 |
from a system of which the retirant is a member or former member; | 975 |
(C) A superannuate or other system retirant employed in | 983 |
accordance with this section shall contribute to the state | 984 |
teachers retirement system in accordance with section 3307.26 of | 985 |
the Revised Code and the employer shall contribute in accordance | 986 |
with sections 3307.28 and 3307.31 of the Revised Code. Such | 987 |
contributions shall be received as specified in section 3307.14 of | 988 |
the Revised Code. A superannuate or other system retirant employed | 989 |
as a teacher is not a member of the state teachers retirement | 990 |
system, does not have any of the rights, privileges, or | 991 |
obligations of membership, except as provided in this section, and | 992 |
is not eligible to receive health, medical, hospital, or surgical | 993 |
benefits under section 3307.39 of the Revised Code for employment | 994 |
subject to this section. | 995 |
(F) A superannuate or other system retirant who has received | 1008 |
an allowance or benefit for less than two months when employment | 1009 |
subject to this section or section 3305.05 of the Revised Code | 1010 |
commences shall forfeit the allowance or benefit for any month the | 1011 |
superannuate or retirant is employed prior to the expiration of | 1012 |
such period.
The allowance or benefit forfeited each month shall | 1013 |
be equal to the monthly amount the superannuate or other system | 1014 |
retirant is eligible to receive under a single lifetime benefit | 1015 |
plan of payment described in section 3307.60 of the Revised Code. | 1016 |
Contributions shall be made to the retirement system from the | 1017 |
first day of such employment, but service and contributions for | 1018 |
that period shall not be used in the calculation of any benefit | 1019 |
payable to the superannuate or other system retirant, and those | 1020 |
contributions shall be refunded on the superannuate's or | 1021 |
retirant's death or termination of the employment. Contributions | 1022 |
made on compensation earned after the expiration of such period | 1023 |
shall be used in calculation of the benefit or payment due under | 1024 |
section 3307.352 of the Revised Code. | 1025 |
(G) On receipt of notice from the Ohio police and fire | 1026 |
pension fund, public employees retirement system, or school | 1027 |
employees retirement system of the re-employment of a | 1028 |
superannuate, the state teachers retirement system shall not pay, | 1029 |
or if paid shall recover, the amount to be forfeited by the | 1030 |
superannuate in accordance with section 145.38, 742.26, or | 1031 |
3309.341 of the Revised Code. | 1032 |
(H) If the disability benefit of an other system retirant | 1033 |
employed under this section is terminated, the retirant shall | 1034 |
become a member of the state teachers retirement system, effective | 1035 |
on the first day of the month next following the termination, with | 1036 |
all the rights, privileges, and obligations of membership. If
such | 1037 |
personthe retirant, after the termination of the retirant's | 1038 |
disability benefit, earns two years of service credit under this | 1039 |
retirement system or under the public employees retirement system, | 1040 |
Ohio police and fire pension fund, school employees retirement | 1041 |
system, or state highway patrol retirement system, the retirant's | 1042 |
prior contributions as an other system retirant under this section | 1043 |
shall be included in the retirant's total service credit, as | 1044 |
defined in section 3307.50 of the Revised Code, as a state | 1045 |
teachers retirement system member, and the retirant shall forfeit | 1046 |
all rights and benefits of this section. Not more than one year of | 1047 |
credit may be given for any period of twelve months. | 1048 |
(2) ASubject to division (E) of this section, a member of | 1080 |
the state teachers retirement system who also holds one or more | 1081 |
other positions covered by the other state retirement systems may | 1082 |
retire under section 3307.57, 3307.58, or 3307.60 of the Revised | 1083 |
Code or under an STRS defined contribution plan from the STRS | 1084 |
position and continue contributing to the other state retirement | 1085 |
systems if the annual compensation for the STRS position at the | 1086 |
time of retirement is greater than annual compensation or earnable | 1087 |
salary for the position, or any of the positions, covered by the | 1088 |
other state retirement systems. | 1089 |
(3) ASubject to division (E) of this section, a member of | 1090 |
the state teachers retirement system who holds two or more STRS | 1091 |
positions and at least one other position covered by one of the | 1092 |
other state retirement systems may retire under section 3307.57, | 1093 |
3307.58, or 3307.60 of the Revised Code or under an STRS defined | 1094 |
contribution plan from one of the STRS positions and continue | 1095 |
contributing to the state teachers retirement system and the other | 1096 |
state retirement system if the annual compensation for the STRS | 1097 |
position from which the member is retiring is, at the time of | 1098 |
retirement, greater than the annual compensation or earnable | 1099 |
salary for any of the positions for which the member is continuing | 1100 |
to make contributions. | 1101 |
(4) Subject to division (E) of this section, a member of the | 1102 |
state teachers retirement system who also holds one or more other | 1103 |
positions covered by the other state retirement systems may retire | 1104 |
under section 3307.57, 3307.58, or 3307.60 of the Revised Code or | 1105 |
under an STRS defined contribution plan from one of the other | 1106 |
state retirement system positions and continue contributing to the | 1107 |
state teachers retirement system if the annual compensation for | 1108 |
the other state retirement system position from which the member | 1109 |
is retiring is, at the time of retirement, greater than the annual | 1110 |
compensation for any of the positions for which the member is | 1111 |
continuing to make contributions. | 1112 |
(5)(6) A member who contributes to the state teachers | 1119 |
retirement system in accordance with division (B)(1), (3), or (4), | 1120 |
or (5) of this section shall contribute in accordance with section | 1121 |
3307.26 of the Revised Code. The member's employer shall | 1122 |
contribute as provided in section 3307.28 of the Revised Code. | 1123 |
Neither the member nor the member's survivors are eligible for any | 1124 |
benefits based on those contributions other than those provided | 1125 |
under section 145.384, 3307.352, or 3309.344 of the Revised Code. | 1126 |
(E) A member may continue to contribute to the retirement | 1149 |
system for another STRS position or other state retirement system | 1150 |
position under division (B)(1), (2), (3), or (4) of this section | 1151 |
only for those positions the member continuously held for at least | 1152 |
twelve consecutive months immediately prior to retirement under | 1153 |
section 3307.57, 3307.58, or 3307.60 of the Revised Code or an | 1154 |
STRS defined contribution plan. | 1155 |
(A) Except as provided in division (B)(3) of this section, a | 1161 |
superannuate or other system retirant who has made contributions | 1162 |
under section 3307.35 or 3307.351 of the Revised Code may file an | 1163 |
application with the state teachers retirement system for a | 1164 |
benefit consisting of a single life annuity. The annuity shall | 1165 |
have a reserve equal to the amount of the superannuate's or | 1166 |
retirant's accumulated contributions, as defined in section | 1167 |
3307.50 of the Revised Code, for the period of employment, other | 1168 |
than the contributions excluded pursuant to division (F) of | 1169 |
section 3307.35 of the Revised Code, and an amount determined by | 1170 |
the state teachers retirement board from the employers' trust | 1171 |
created by section 3307.14 of the Revised Code, plus interest | 1172 |
credited to the date of retirement at a rate of interest | 1173 |
determined by the board. The superannuate or other system retirant | 1174 |
shall elect either to receive the benefit as a monthly annuity for | 1175 |
life or a lump sum payment discounted to the present value using a | 1176 |
rate of interest determined by the board, except that if the | 1177 |
monthly annuity would be less than twenty-five dollars per month | 1178 |
the superannuate or retirant shall receive a lump sum payment. | 1179 |
(C)(1) If a superannuate or other system retirant who made | 1224 |
contributions under section 3307.35 or 3307.351 of the Revised | 1225 |
Code dies before receiving a benefit under division (A) of this | 1226 |
section or a return of contributions under division (B) of this | 1227 |
section, a lump sum payment shall be paid to the beneficiary | 1228 |
designated under division (D)(1) of section 3307.562 of the | 1229 |
Revised Code. The lump sum shall be calculated in accordance with | 1230 |
division (A) of this section, except that the interest shall be | 1231 |
credited as follows: | 1232 |
(B) On receipt of an order issued under section 3105.171 or | 1256 |
3105.65 of the Revised Code, the state teachers retirement system | 1257 |
shall determine whether the order meets the requirements of | 1258 |
sections 3105.80 to 3105.90 of the Revised Code. The system shall | 1259 |
retain in the participant's record an order the board determines | 1260 |
meets the requirements. Not later than sixty days after receipt, | 1261 |
the system shall return to the court that issued the order any | 1262 |
order the system determines does not meet the requirements. | 1263 |
(F) If a participant's benefit or lump sum payment is or will | 1286 |
be subject to more than one order described in section 3105.81 of | 1287 |
the Revised Code or to an order described in that section
3105.81 | 1288 |
of the Revised Code and a withholdingan order under section | 1289 |
3111.23 or 3113.21issued in accordance with Chapter 3119., 3121., | 1290 |
3123., or 3125. of the Revised Code, the system shall, after | 1291 |
determining that the amounts that are or will be withheld will | 1292 |
cause the benefit or lump sum payment to fall below the limits | 1293 |
described in section 3105.85 of the Revised Code, do all of the | 1294 |
following: | 1295 |
(G) A withholding or deduction notice issued under section | 1305 |
3111.23 or 3113.21in accordance with Chapter 3119., 3121., 3123., | 1306 |
or 3125. of the Revised Code or an order described in section | 1307 |
3115.32 of the Revised Code has priority over all other orders and | 1308 |
shall be complied with in accordance with child support | 1309 |
enforcement laws. All other orders are entitled to priority in | 1310 |
order of earliest retention by the system. The system is not to | 1311 |
retain an order that provides for the division of property unless | 1312 |
the order is filed in a court with jurisdiction in this state. | 1313 |
Sec. 3307.39. (A) The state teachers retirement board may | 1317 |
enter into an agreement with insurance companies, health insuring | 1318 |
corporations, or government agencies authorized to do business in | 1319 |
the state for issuance of a policy or contract of health, medical, | 1320 |
hospital, or surgical benefits, or any combination thereof, for | 1321 |
those individuals receiving, under the STRS defined benefit plan | 1322 |
described in sections 3307.50 to 3307.79 of the Revised Code, | 1323 |
service retirement or a disability or survivor benefit who | 1324 |
subscribe to the plan. Notwithstanding any other provision of this | 1325 |
chapter, the policy or contract may also include coverage for any | 1326 |
eligible individual's spouse and dependent children and for any of | 1327 |
the individual's sponsored dependents as the board considers | 1328 |
appropriate. If all or any portion of the policy or contract | 1329 |
premium is to be paid by any individual receiving service | 1330 |
retirement or a disability or survivor benefit, the individual | 1331 |
shall, by written authorization, instruct the board to deduct the | 1332 |
premium agreed to be paid by the individual to the companies, | 1333 |
corporations, or agencies. | 1334 |
The board may enter into an agreement under this division for | 1340 |
coverage of recipients of benefits under aan STRS defined | 1341 |
contribution plan established under section 3307.81 of the Revised | 1342 |
Code if the plan selected includes health, medical, hospital, or | 1343 |
surgical benefits, or any combination thereof. The board may | 1344 |
contract for coverage on the basis that the cost of the coverage | 1345 |
will be paid by the recipient or by the plan to which the | 1346 |
recipient contributed under this chapter. The board may offer to | 1347 |
recipients plans that provide for different levels of coverage or | 1348 |
for prepayment of the cost of coverage. | 1349 |
(B) The board shallmay make a monthly payment to each | 1355 |
recipient of service retirement, or a disability or survivor | 1356 |
benefit under the STRS defined benefit plan described in sections | 1357 |
3307.50 to 3307.79 of the Revised Code who is eligible for | 1358 |
insuranceenrolled in coverage under part B of the medicare | 1359 |
program established under Title XVIII of "The Social Security | 1360 |
Amendments of 1965," 79 Stat. 301 (1965), 42 U.S.C.A. 1395j, as | 1361 |
amended, and may make a monthly payment to a recipient of benefits | 1362 |
under aan STRS defined contribution plan established under | 1363 |
section 3307.81 of the Revised Code who is eligible for that | 1364 |
insurance coverage if the monthly payments are funded through the | 1365 |
plan selected by the recipient. The payment shall be the greater | 1366 |
of the following: | 1367 |
(2) An amount determined by multiplyingthe board, which | 1369 |
shall not exceed ninety per cent of the basic premium for the | 1370 |
coverage by a percentage, not exceeding ninety per cent, | 1371 |
determined by multiplying the years of service used in calculating | 1372 |
the service retirement or benefit or, in the case of a recipient | 1373 |
of benefits under a plan established under section 3307.81 of the | 1374 |
Revised Code, the participant's years of service by a percentage | 1375 |
determined by the board not exceeding three per cent, except that | 1376 |
the amount shall not exceed the amount paid by the recipient. | 1377 |
(C) The board shall establish by rule requirements for the | 1384 |
coordination of any coverage, payment, or benefit provided under | 1385 |
this section or section 3307.61 of the Revised Code with any | 1386 |
similar coverage, payment, or benefit made available to the same | 1387 |
individual by the public employees retirement system, Ohio police | 1388 |
and fire pension fund, school employees retirement system, or | 1389 |
state highway patrol retirement system. | 1390 |
Sec. 3307.391. The state teachers retirement board shallmay | 1393 |
establish a program under which members of the state teachers | 1394 |
retirement system, employers on behalf of members, and persons | 1395 |
receiving benefits under this chapter are permitted to participate | 1396 |
in contracts for long-term health care insurance. Participation | 1397 |
may include dependents and family members. If a participant in a | 1398 |
contract for long-term care insurance leaves employment, the | 1399 |
participant and the participant's dependents and family members | 1400 |
may, at their election, continue to participate in a program | 1401 |
established under this section in the same manner as if the | 1402 |
participant had not left employment, except that no part of the | 1403 |
cost of the insurance shall be paid by the participant's former | 1404 |
employer. | 1405 |
The board may enter into an agreement with insurance | 1410 |
companies, health insuring corporations, or government agencies | 1411 |
authorized to do business in the state for issuance of a long-term | 1412 |
care insurance policy or contract. However, prior to entering into | 1413 |
such an agreement with an insurance company or health insuring | 1414 |
corporation, the board shall request the superintendent of | 1415 |
insurance to certify the financial condition of the company or | 1416 |
corporation. The board shall not enter into the agreement if, | 1417 |
according to that certification, the company or corporation is | 1418 |
insolvent, is determined by the superintendent to be potentially | 1419 |
unable to fulfill its contractual obligations, or is placed under | 1420 |
an order of rehabilitation or conservation by a court of competent | 1421 |
jurisdiction or under an order of supervision by the | 1422 |
superintendent. | 1423 |
The board shallmay adopt rules in accordance with section | 1424 |
111.15 of the Revised Code governing the program. TheAny rules | 1425 |
adopted by the board shall establish methods of payment for | 1426 |
participation under this section, which may include establishment | 1427 |
of a payroll deduction plan under section 3307.703307.701 of the | 1428 |
Revised Code, deduction of the full premium charged from a | 1429 |
person's benefit, or any other method of payment considered | 1430 |
appropriate by the board. If the program is established jointly | 1431 |
with one or more of the other retirement systems, the rules also | 1432 |
shall establish the terms and conditions of such joint | 1433 |
participation. | 1434 |
Sec. 3307.42. (A) Except as provided in section 3307.373 of | 1435 |
the Revised Code, the granting to any person of an allowance, | 1436 |
annuity, pension, or other benefit under the STRS defined benefit | 1437 |
plan described in sections 3307.50 to 3307.79 of the Revised Code, | 1438 |
or the granting of a benefit under aan STRS defined contribution | 1439 |
plan established under section 3307.81 of the Revised Code, | 1440 |
pursuant to an action of the state teachers' retirement board | 1441 |
vests a right in such person, so long as the person remains the | 1442 |
beneficiary of any of the funds established by section 3307.14 of | 1443 |
the Revised Code, to receive the allowance, annuity, pension, or | 1444 |
benefit at the rate fixed at the time of granting the allowance, | 1445 |
annuity, pension, or benefit. Such right shall also be vested with | 1446 |
equal effect in the beneficiary of a grant heretofore made from | 1447 |
any of the funds named in section 3307.14 of the Revised Code. | 1448 |
(B)(1) The state teachers retirement system may suspend the | 1449 |
benefit of a person receiving a benefit under section 3307.58 or | 1450 |
3307.59 of the Revised Code, a disability benefit under section | 1451 |
3307.63 or 3307.631 of the Revised Code, a survivor benefit under | 1452 |
section 3307.66 of the Revised Code, any payment under section | 1453 |
3307.352 of the Revised Code, a benefit under section 3307.60 of | 1454 |
the Revised Code as a beneficiary, or a benefit under an STRS | 1455 |
defined contribution plan under either of the following | 1456 |
circumstances: | 1457 |
Sec. 3307.46. Whenever the limits established by section 415 | 1474 |
of the "Internal Revenue Code of 1986," 100 Stat. 2085, 26 | 1475 |
U.S.C.A. 415, as amended, are raised, the state teachers | 1476 |
retirement board may increase the amount of the pension, benefit, | 1477 |
or allowance of any person whose pension, benefit, or allowance | 1478 |
payable under section 3307.58, 3307.59, 3307.63, 3307.631, or | 1479 |
3307.67 of the Revised Code or aan STRS defined contribution plan | 1480 |
established under section 3307.81 of the Revised Code was limited | 1481 |
by the application of section 415. The amount of the increased | 1482 |
pension, benefit, or allowance shall not exceed the lesser of the | 1483 |
amount the person would have received if the limits established by | 1484 |
section 415 had not been applied or the amount the person is | 1485 |
eligible to receive subject to the new limits established by | 1486 |
section 415. | 1487 |
Sec. 3307.47. (A) If a person is paid any benefit or payment | 1488 |
by the state teachers retirement system under the plans described | 1489 |
in section 3307.031 of the Revised Code or under section 3307.371 | 1490 |
of the Revised Code to which the person is not entitled, the | 1491 |
benefit shall be repaid to the system by the person. If the person | 1492 |
fails to make the repayment, the system shall withhold the amount | 1493 |
due from any benefit due the person or the person's beneficiary | 1494 |
under this chapter, or may collect the amount in any other manner | 1495 |
provided by law. | 1496 |
(E) If a person receives any payment pursuant to section | 1512 |
3307.39 of the Revised Code to which the person is not entitled, | 1513 |
including any payment to a third party on the person's behalf, the | 1514 |
payment to which the person is not entitled shall be repaid to the | 1515 |
retirement system. If the person or third party fails to make the | 1516 |
repayment, the retirement system shall withhold the amount due, or | 1517 |
portion of the amount due, from any payment or benefit due the | 1518 |
person or person's beneficiary under this chapter. | 1519 |
The state teachers retirement board shall require any | 1534 |
disability benefit recipient to submit to an annual medical | 1535 |
examination by a physician selected by the board, except that the | 1536 |
board may waiveforgo the medical examination if the board's | 1537 |
physician
certifiesdetermines that the recipient's disability is | 1538 |
ongoing or may require additional examinations if the board's | 1539 |
physician determines that additional information should be | 1540 |
obtained. If a disability benefit recipient refuses to submit to a | 1541 |
medical examination, the recipient's disability benefit shall be | 1542 |
suspended until the recipient withdraws the refusal. If the | 1543 |
refusal continues for one year, all the recipient's rights under | 1544 |
and to the disability benefit shall be terminated as of the | 1545 |
effective date of the original suspension. | 1546 |
After the examination, the examiner shall report and certify | 1547 |
to the board whether the disability benefit recipient is no longer | 1548 |
physically and mentally incapable of resuming the service from | 1549 |
which the recipient was found disabled. If the board concurs in a | 1550 |
report by the examining physician that the disability benefit | 1551 |
recipient is no longer incapable, the board shall order | 1552 |
termination of payment of a disability benefit shall be terminated | 1553 |
not later than the following thirty-first day of August or upon | 1554 |
employment as a teacher prior thereto. The board shall provide | 1555 |
notice to the recipient of the board's order. At the request of | 1556 |
the recipient, a hearing on the order shall be conducted in | 1557 |
accordance with procedures established by the board. If the leave | 1558 |
of absence has not expired, the board shall so certify to the | 1559 |
disability benefit recipient's last employer before being found | 1560 |
disabled that the recipient is no longer physically and mentally | 1561 |
incapable of resuming service that is the same or similar to that | 1562 |
from which the recipient was found disabled. If the recipient was | 1563 |
under contract at the time the recipient was found disabled, the | 1564 |
employer by the first day of the next succeeding year shall | 1565 |
restore the recipient to the recipient's previous position and | 1566 |
salary or to a position and salary similar thereto, unless the | 1567 |
recipient was dismissed or resigned in lieu of dismissal for | 1568 |
dishonesty, misfeasance, malfeasance, or conviction of a felony. | 1569 |
A disability benefit shall terminate if the disability | 1570 |
benefit recipient becomes employed as a teacher in any public or | 1571 |
private school or institution in this state or elsewhere. An | 1572 |
individual receiving a disability benefit from the system shall be | 1573 |
ineligible forto perform any employment as a teacher and it shall | 1574 |
be unlawful for any employer to employ the individual as a teacher | 1575 |
teaching service, as defined by the board. A disability benefit | 1576 |
shall immediately terminate if the disability benefit recipient | 1577 |
performs any teaching service in this state or elsewhere. The | 1578 |
board shall notify the recipient that the benefit is terminated. | 1579 |
The recipient may submit, not later than thirty days after the | 1580 |
date the notice is sent, to the board information specifying that | 1581 |
the disability recipient did not perform teaching services while | 1582 |
receiving disability benefits along with any supporting evidence | 1583 |
available to the recipient. The board shall review the information | 1584 |
and any accompanying evidence to determine whether the individual | 1585 |
performed teaching services. The board may designate an individual | 1586 |
to review the information and submit a recommendation to the | 1587 |
board. The board shall determine whether the benefit was correctly | 1588 |
terminated. If not, the benefit shall be reinstated and any missed | 1589 |
payments paid to the recipient. The board's decision is final.
If | 1590 |
If any employer should employ or reemploy the individuala | 1591 |
disability benefit recipient prior to the termination of a | 1592 |
disability benefit, the employer shall file notice of employment | 1593 |
with the board designating the date of the employment. If the | 1594 |
individual should be paid bothdisability benefit recipient | 1595 |
received a disability benefit and also compensation forperformed | 1596 |
teaching serviceservices for all or any part of the same month, | 1597 |
the secretary of the board shall certify to the employer or to the | 1598 |
superintendent of public instructionrecipient shall repay to the | 1599 |
annuity and pension reserve fund the amount of the disability | 1600 |
benefit received by the individual during the employment, which | 1601 |
amount shall be deducted from any amount due the employing | 1602 |
district under Chapter 3317. of the Revised Code or shall be paid | 1603 |
by the employer to the annuity and pension reserve fundrecipient | 1604 |
from the beginning of employment. | 1605 |
If disability retirement under section 3307.63 of the Revised | 1622 |
Code is terminated for any reason, the annuity and pension | 1623 |
reserves at that time in the annuity and pension reserve fund | 1624 |
shall be transferred to the teachers' savings fund and the | 1625 |
employers' trust fund, respectively. If the total disability | 1626 |
benefit paid was less than the amount of the accumulated | 1627 |
contributions of the member transferred to the annuity and pension | 1628 |
reserve fund at the time of the member's disability retirement, | 1629 |
then the difference shall be transferred from the annuity and | 1630 |
pension reserve fund to another fund as required. In determining | 1631 |
the amount of a member's account following the termination of | 1632 |
disability retirement for any reason, the total amount paid shall | 1633 |
be charged against the member's refundable account. | 1634 |
If a former disability benefit recipient again becomes a | 1639 |
contributor, other than as an other system retirant under section | 1640 |
3307.35 of the Revised Code, to this retirement system, the school | 1641 |
employees retirement system, or the public employees retirement | 1642 |
system, and completes at least two additional years of service | 1643 |
credit, the former disability benefit recipient shall receive | 1644 |
credit for the period as a disability benefit recipient. Credit | 1645 |
may be received for more than one period of leave as a disability | 1646 |
benefit recipient, except that for credit received on or after | 1647 |
July 1, 2013, the total number of years received shall not exceed | 1648 |
the lesser of the years of contributing service following the | 1649 |
termination of disability benefits or five years of total service | 1650 |
credit. | 1651 |
(A) "Prior service" means all service as a teacher before | 1654 |
September 1, 1920, military service credit, all service prior to | 1655 |
September 1, 1920, as an employee of any employer who comes within | 1656 |
the public employees retirement system, the school employees | 1657 |
retirement system, or any other state retirement system | 1658 |
established under the laws of Ohio, and similar service in another | 1659 |
state, credit for which was procured by a member under former | 1660 |
section 3307.33 of the Revised Code, prior to June 25, 1945. Prior | 1661 |
service credit shall not be granted to any member for service for | 1662 |
which credit or benefits have been received in any other state | 1663 |
retirement system in Ohio or for credit that was forfeited by | 1664 |
withdrawal of contributions, unless the credit has been restored. | 1665 |
If the teacher served as an employee in any two or all of the | 1666 |
capacities, "prior service" means the total combined service in | 1667 |
the capacities prior to September 1, 1920. | 1668 |
If a teacher who has been granted prior service credit for | 1669 |
service rendered prior to September 1, 1920, as an employee of an | 1670 |
employer who comes within the public employees retirement system | 1671 |
or the school employees retirement system, establishes, subsequent | 1672 |
to September 16, 1957, and before retirement, three years of | 1673 |
contributing service in the public employees retirement system, or | 1674 |
one year in the school employees retirement system, the prior | 1675 |
service credit granted shall become, at retirement, the liability | 1676 |
of the other system if the prior service or employment was in a | 1677 |
capacity covered by that system. | 1678 |
(B) "Total service," "total service credit," except as | 1679 |
provided in section 3307.57 of the Revised Code, or "Ohio service | 1680 |
credit" means all service of a member of the state teachers | 1681 |
retirement system since last becoming a member and, in addition | 1682 |
thereto, restored service credit under section 3307.71 of the | 1683 |
Revised Code, all prior service credit, all military service | 1684 |
credit computed as provided in this chapter, and all other service | 1685 |
credit established under sections 3307.26, 3307.53, 3307.54, | 1686 |
3307.72, 3307.73, 3307.74, 3307.76, 3307.761, 3307.763, 3307.77, | 1687 |
3307.771, and 3307.78 and former sections 3307.513, 3307.514, and | 1688 |
3307.52 of the Revised Code, and Section 3 of Amended Substitute | 1689 |
Senate Bill No. 530 of the 114th general assembly. All service | 1690 |
credit purchased under section 3307.741 of the Revised Code shall | 1691 |
be used exclusively for the purpose of qualifying for service | 1692 |
retirement. | 1693 |
(2) A percentage increase paid to the member as part of an | 1752 |
increase generally applicable to members employed by the employer. | 1753 |
An increase shall be considered generally applicable if it is paid | 1754 |
to members employed by a school district board of education in | 1755 |
positions requiring a license issued under section 3319.22 of the | 1756 |
Revised Code in accordance with uniform criteria applicable to all | 1757 |
such members or if paid to members employed by an employer other | 1758 |
than a school district board of education in accordance with | 1759 |
uniform criteria applicable to all such members. | 1760 |
(1) For benefits beginning before August 1, 2015, by dividing | 1763 |
the sum of the member's annual compensation for the three highest | 1764 |
years of compensation for which the member made contributions plus | 1765 |
any amount determined under division (E) of this section by three, | 1766 |
except that if the member has a partial year of contributing | 1767 |
service in the year the member's employment terminates and the | 1768 |
compensation for the partial year is at a rate higher than the | 1769 |
rate of compensation for any one of the member's highest three | 1770 |
years of compensation, the board shall substitute the compensation | 1771 |
for the partial year for the compensation for the same portion of | 1772 |
the lowest of the member's three highest years of compensation; | 1773 |
(2) For benefits beginning on or after August 1, 2015, by | 1774 |
dividing the sum of the member's annual compensation for the five | 1775 |
highest years of compensation for which the member made | 1776 |
contributions plus any amount determined under division (E) of | 1777 |
this section by five, except that if the member has a partial year | 1778 |
of contributing service in the year the member's employment | 1779 |
terminates and the compensation for the partial year is at a rate | 1780 |
higher than the rate of compensation for any one of the member's | 1781 |
highest five years of compensation, the board shall substitute the | 1782 |
compensation for the partial year for the compensation for the | 1783 |
same portion of the lowest of the member's five highest years of | 1784 |
compensation. If | 1785 |
For the purpose of calculating benefits payable to a member | 1792 |
qualifying for service credit under division (I) of section | 1793 |
3307.01 of the Revised Code, the board shall calculate the | 1794 |
member's final average salary by dividing the member's total | 1795 |
compensation as a teacher covered under this chapter plus any | 1796 |
amount determined under division (E) of this section by the total | 1797 |
number of years, including any portion of a year, of contributing | 1798 |
membership during that period. If contributions were made for less | 1799 |
than twelve months, the member's final average salary is the total | 1800 |
amount of compensation paid to the member during all periods of | 1801 |
contributions under this chapter. | 1802 |
Any applicant for retirement who has had any amount excluded | 1818 |
from the applicant's compensation in accordance with division (B) | 1819 |
of this section may request a hearing on this exclusion. Upon | 1820 |
receiving such a request, the board shall determine in accordance | 1821 |
with its criteria and procedures whether, for good cause as | 1822 |
determined by the board, all or any portion of any amount excluded | 1823 |
from the applicant's compensation in accordance with division (B) | 1824 |
of this section, up to a maximum of seventy-five hundred dollars, | 1825 |
is to be included in the determination of final average salary | 1826 |
under division (C) of this section. Any determination of the board | 1827 |
under this division shall be final. | 1828 |
Sec. 3307.51. (A) The state teachers retirement board shall | 1829 |
have prepared annually by or under the supervision of an actuary | 1830 |
an actuarial valuation of the pension assets, liabilities, and | 1831 |
funding requirements of the STRS defined benefit plan described in | 1832 |
sections 3307.50 to 3307.79 of the Revised Code. The actuary shall | 1833 |
complete the valuation in accordance with actuarial standards of | 1834 |
practice promulgated by the actuarial standards board of the | 1835 |
American academy of actuaries and prepare a report of the | 1836 |
valuation. The report shall include all of the following: | 1837 |
(B) At such times as the state teachers retirement board | 1860 |
determines, and at least once in each quinquennial period, the | 1861 |
board shall have prepared by or under the supervision of an | 1862 |
actuary an actuarial investigation of the mortality, service, and | 1863 |
other experience of the members, retirants, and beneficiaries of | 1864 |
the system, and other system retirants as defined in section | 1865 |
3307.35 of the Revised Code to update the actuarial assumptions | 1866 |
used in the actuarial valuation required by division (A) of this | 1867 |
section. The actuary shall prepare a report of the actuarial | 1868 |
investigation. The report shall be prepared and any recommended | 1869 |
changes in actuarial assumptions shall be made in accordance with | 1870 |
the actuarial standards of practice promulgated by the actuarial | 1871 |
standards board of the American academy of actuaries. The report | 1872 |
shall include all of the following: | 1873 |
(4) A statement of the financial impact of the legislation, | 1906 |
including the resulting increase, if any, in the employer normal | 1907 |
cost percentage; the increase, if any, in actuarial accrued | 1908 |
liabilities; and the per cent of payroll that would be required to | 1909 |
amortize the increase in actuarial accrued liabilities as a level | 1910 |
per cent of covered payroll for all active members over a period | 1911 |
not to exceed thirty years; | 1912 |
Sec. 3307.512. The state teachers retirement board shall | 1958 |
establish a period of not more than thirty years to amortize the | 1959 |
state teachers retirement system's unfunded actuarial accrued | 1960 |
pension liabilities for benefits paid under sections 3307.50 to | 1961 |
3307.79 of the Revised Codethe STRS defined benefit plan. If in | 1962 |
any year the period necessary to amortize the unfunded actuarial | 1963 |
accrued pension liability exceeds thirty years, as determined by | 1964 |
the annual actuarial valuation required by section 3307.51 of the | 1965 |
Revised Code, the board, not later than ninety days after receipt | 1966 |
of the valuation, shall prepare and submit to the Ohio retirement | 1967 |
study council and the standing committees of the house of | 1968 |
representatives and the senate with primary responsibility for | 1969 |
retirement legislation a report that includes the following | 1970 |
information: | 1971 |
Sec. 3307.52. At the time of retirement under the STRS | 1978 |
defined benefit plan described in sections 3307.50 to 3307.79 of | 1979 |
the Revised Code, the total service credited a teacher shall | 1980 |
consist of all the teacher's service as a teacher since the | 1981 |
teacher last became a member and, if the teacher has a prior | 1982 |
service certificate which is in full force and effect, all service | 1983 |
certified on such prior service certificate, together with | 1984 |
purchased service credit as provided in section 3307.741 of the | 1985 |
Revised Code. | 1986 |
Sec. 3307.53. The state teachers retirement board shall | 1987 |
credit a year of service to any teacher participating in the STRS | 1988 |
defined benefit plan described in sections 3307.50 to 3307.79 of | 1989 |
the Revised Code who is employed on a full-time basis in a school | 1990 |
district for the number of months the regular day schools of such | 1991 |
district are in session in said district within any year. The | 1992 |
board shall adopt appropriate rules and regulations for the | 1993 |
determination of credit for less than a complete year of service, | 1994 |
and shall be the final authority in determining the number of | 1995 |
years of service credit. The board shall credit not more than one | 1996 |
year for all service rendered in any year. | 1997 |
Sec. 3307.56. (A)(1) Subject to sections 3307.37 and | 2011 |
3307.561 of the Revised Code and except as provided in division | 2012 |
(B)(2) of this section, a member participating in the STRS defined | 2013 |
benefit plan
described in sections 3307.50 to 3307.79 of the | 2014 |
Revised Code who ceases to be a teacher for any cause other than | 2015 |
death, retirement, receipt of a disability benefit, or current | 2016 |
employment in a position in which the member has elected to | 2017 |
participate in an alternative retirement plan under section | 2018 |
3305.05 or 3305.051 of the Revised Code, upon application, shall | 2019 |
be paid the accumulated contributions standing to the credit of | 2020 |
the member's individual account in the teachers' savings fund plus | 2021 |
an amount calculated in accordance with section 3307.563 of the | 2022 |
Revised Code. If the member or the member's legal representative | 2023 |
cannot be found within ten years after the member ceased making | 2024 |
contributions pursuant to section 3307.26 of the Revised Code, the | 2025 |
accumulated contributions may be transferred to the guarantee fund | 2026 |
and thereafter paid to the member, to the member's beneficiaries, | 2027 |
or to the member's estate, upon proper application. | 2028 |
(2) A member described in division (A)(1) of this section who | 2029 |
is married at the time of application for payment and is eligible | 2030 |
for age and service retirement under section 3307.58 or 3307.59 of | 2031 |
the Revised Code or would be eligible for age and service | 2032 |
retirement under either of those sections but for a forfeiture | 2033 |
ordered under division (A) or (B) of section 2929.192 of the | 2034 |
Revised Code shall submit with the application a written statement | 2035 |
by the member's spouse attesting that the spouse consents to the | 2036 |
payment of the member's accumulated contributions. Consent shall | 2037 |
be valid only if it is signed and witnessed by a notary public. If | 2038 |
the statement is not submitted under this division, the | 2039 |
application shall be considered an application for service | 2040 |
retirement and shall be subject to division (G)(1) of section | 2041 |
3307.60 of the Revised Code. | 2042 |
(2) If a member has accumulated contributions, in addition to | 2059 |
those subject to division (B)(1) of this section, standing to the | 2060 |
credit of a member's individual account and is not otherwise in a | 2061 |
position in which the member is considered a teacher for the | 2062 |
purposes of that position, pay, to the provider the member | 2063 |
selected pursuant to section 3305.05 or 3305.051 of the Revised | 2064 |
Code, the accumulated contributions standing to the credit of the | 2065 |
member's individual account in the teachers' saving fund plus an | 2066 |
amount calculated in accordance with section 3307.803307.563 of | 2067 |
the Revised Code. The payment shall be made on the member's | 2068 |
application. | 2069 |
(B) Except as provided in division (B) of section 3307.563 or | 2114 |
division (G)(1) of section 3307.66 of the Revised Code, should a | 2115 |
member who is participating in the STRS defined benefit plan | 2116 |
described in sections 3307.50 to 3307.79 of the Revised Code die | 2117 |
before service retirement, the member's accumulated contributions, | 2118 |
plus an amount calculated in accordance with section 3307.563 of | 2119 |
the Revised Code, and any amounts owed and unpaid to a disability | 2120 |
benefit recipient shall be paid to such beneficiaries as the | 2121 |
member has nominated by written designation signed by the member | 2122 |
and filed withreceived by the state teachers retirement board | 2123 |
prior to death. A member may designate two or more persons as | 2124 |
beneficiaries to be paid the amount determined under this | 2125 |
division. On and after July 1, 2013, and subject to rules adopted | 2126 |
by the board, a member who designates two or more persons as | 2127 |
beneficiaries shall specify the percentage of the amount that each | 2128 |
beneficiary is to be paid. If the member has not specified the | 2129 |
percentages, the amount shall be divided equally among the | 2130 |
beneficiaries. If a designated beneficiary is deceased, the amount | 2131 |
allocated to the deceased beneficiary shall be allocated to the | 2132 |
remaining beneficiaries based on each remaining beneficiary's | 2133 |
initial percentage. The nomination of beneficiary shall be on a | 2134 |
form provided by the retirement board. The last nomination of any | 2135 |
beneficiary revokes all previous nominations. The member's | 2136 |
marriage, divorce, marriage dissolution, legal separation, or | 2137 |
withdrawal of account, or the birth of the member's child, or the | 2138 |
member's adoption of a child, shall constitute an automatic | 2139 |
revocation of the member's previous designation. If a deceased | 2140 |
member was also a member of the public employees retirement system | 2141 |
or the school employees retirement system, the beneficiary last | 2142 |
established among the systems shall be the sole beneficiary in all | 2143 |
the systems. | 2144 |
Any beneficiary ineligible for monthly survivor benefits as | 2145 |
provided by section 3307.66 of the Revised Code may waive in | 2146 |
writing all claim to any benefits and such waiver shall thereby | 2147 |
put in effect the succession of beneficiaries under division (C) | 2148 |
of this section, provided the beneficiary thereunder is | 2149 |
immediately eligible and agrees in writing to accept survivor | 2150 |
benefits as provided by section 3307.66 of the Revised Code. If | 2151 |
the accumulated contributions of a deceased member are not claimed | 2152 |
by a beneficiary, or by the estate of the deceased member, within | 2153 |
ten years, they shall be transferred to the guarantee fund and | 2154 |
thereafter paid to such beneficiary or to the member's estate upon | 2155 |
application to the board. The board shall formulate and adopt | 2156 |
rules governing all designations of beneficiaries. | 2157 |
If any survivor dies before payment is made under this | 2170 |
section or is not located prior to the ninety-first day after the | 2171 |
board receives notification of the member's death, the survivor | 2172 |
next in order of precedence shall qualify as a beneficiary, | 2173 |
provided that benefits under division (C)(2) of section 3307.66 of | 2174 |
the Revised Code are elected. In the event that the beneficiary | 2175 |
originally determined is subsequently located, the beneficiary may | 2176 |
qualify for benefits under division (C)(2) of section 3307.66 of | 2177 |
the Revised Code upon meeting the conditions of eligibility set | 2178 |
forth in division (B) of that section, but in no case earlier than | 2179 |
the first day of the month following application by such | 2180 |
beneficiary. Any payment made to a beneficiary as determined by | 2181 |
the board shall be a full discharge and release to the board from | 2182 |
any future claims. | 2183 |
(D)(1) Any amount due any person, as an annuitant, receiving | 2184 |
a monthly benefit, and unpaid to the annuitant at death, shall be | 2185 |
paid to the beneficiary named by written designation signed by the | 2186 |
annuitant and filed withreceived by the state teachers retirement | 2187 |
board prior to death. If no such designation has been filed, or if | 2188 |
the beneficiary designated is deceased or is not located prior to | 2189 |
the ninety-first day after the board receives notification of the | 2190 |
annuitant's death, such amount shall be paid, in the following | 2191 |
order of precedence to the annuitant's: | 2192 |
(E) If the validity of marriage cannot be established to the | 2206 |
satisfaction of the board for the purpose of disbursing any amount | 2207 |
due under this section or section 3307.66 of the Revised Code, the | 2208 |
board may accept a decision rendered by a court having | 2209 |
jurisdiction in the state in which the member was domiciled at the | 2210 |
time of death that the relationship constituted a valid marriage | 2211 |
at the time of death, or the "spouse" would have the same status | 2212 |
as a widow or widower for purposes of sharing the distribution of | 2213 |
the member's intestate personal property. | 2214 |
(B) At the option of a member participating in the STRS | 2292 |
defined benefit plan
described in sections 3307.50 to 3307.79 of | 2293 |
the Revised Code, total contributions and service credit in all | 2294 |
retirement systems, including amounts paid to restore service | 2295 |
credit under sections 145.311, 3307.711, and 3309.261 of the | 2296 |
Revised Code, shall be used in determining the eligibility for | 2297 |
benefits. If total contributions and service credit are combined, | 2298 |
the following provisions apply: | 2299 |
(3) In determining eligibilityEligibility for a disability | 2308 |
benefit, the medical examiner's report toshall be determined by | 2309 |
the board of anythe state retirement system, showing that will | 2310 |
calculate and pay the member's disability incapacitates the member | 2311 |
for the performance of duty, maybenefit, as provided in division | 2312 |
(B)(4) of this section. The state retirement system calculating | 2313 |
and paying the disability benefit shall certify the determination | 2314 |
to the board of each other state retirement system in which the | 2315 |
member has service credit and shall be accepted by that board as | 2316 |
sufficient for granting a disability benefit. | 2317 |
(6)(a) The retirement system determiningcalculating and | 2330 |
paying the benefit shall receive from the other system or systems | 2331 |
the member's refundable account at retirement or the effective | 2332 |
date of a disability benefit plus an amount from the employers' | 2333 |
trust fund equal to the member's refundable account less interest | 2334 |
credited under section 145.471, 145.472, or 3307.563 of the | 2335 |
Revised Code. If applicable, the retirement system determining and | 2336 |
paying the benefit shall receive from the public employees | 2337 |
retirement system a portion of the amount paid on behalf of the | 2338 |
member by an employer under section 145.483 of the Revised Code. | 2339 |
The portion shall equal the product obtained by multiplying by two | 2340 |
the amount the member would have contributed during the period the | 2341 |
employer failed to deduct contributions, as described in section | 2342 |
145.483 of the Revised Codeall of the following for each year of | 2343 |
service: | 2344 |
(i) For each of the first thirty years of Ohio service | 2465 |
credit, two and two-tenths per cent of the member's final average | 2466 |
salary or, subject to the limitation described in division | 2467 |
(B)(2)(b)(D)(1)(c) of this section, two and five-tenths per cent | 2468 |
of the member's final average salary if the member has thirty-five | 2469 |
or more years of service credit under section 3307.48, 3307.53, | 2470 |
3307.57, 3307.75, 3307.751, 3307.752, 3307.761, 3307.763, | 2471 |
3307.765, 3307.77, or 3307.771 of the Revised Code, division | 2472 |
(A)(2) or (B) of former section 3307.513 of the Revised Code, | 2473 |
former section 3307.514 of the Revised Code, section 3307.72 of | 2474 |
the Revised Code earned after July 1, 1978, or any combination of | 2475 |
service credit under those sections; | 2476 |
(ii) For each year or fraction of a year of Ohio service | 2477 |
credit in excess of thirty years, two and two-tenths per cent of | 2478 |
the member's final average salary or, subject to the limitation | 2479 |
described in division (B)(2)(b)(D)(1)(c) of this section, if the | 2480 |
member has more than thirty years service credit under section | 2481 |
3307.48, 3307.53, 3307.57, 3307.75, 3307.751, 3307.752, 3307.761, | 2482 |
3307.763, 3307.765, 3307.77, or 3307.771 of the Revised Code, | 2483 |
division (A)(2) or (B) of former section 3307.513 of the Revised | 2484 |
Code, former section 3307.514 of the Revised Code, section 3307.72 | 2485 |
of the Revised Code earned after July 1, 1978, or any combination | 2486 |
of service credit under those sections, the per cent of final | 2487 |
average salary shown in the following schedule for each | 2488 |
corresponding year or fraction of a year of service credit under | 2489 |
those sections that is in excess of thirty years: | 2490 |
(b)(c) For purposes of division (B)(2)(a)(D)(1) of this | 2502 |
section, a percentage of final average salary in excess of two and | 2503 |
two-tenths per cent shall be applied to service credit under | 2504 |
section 3307.57 of the Revised Code only if the service credit was | 2505 |
established under section 145.30, 145.301, 145.302, 145.47, | 2506 |
145.483, 3309.02, 3309.021, 3309.022, or 3309.47 of the Revised | 2507 |
Code or restored under section 145.31 or 3309.26 of the Revised | 2508 |
Code. | 2509 |
(i) For each of the first thirty years of Ohio service | 2515 |
credit, two and two-tenths per cent of the member's final average | 2516 |
salary or, subject to the limitation described in division | 2517 |
(D)(2)(b) of this section, two and five-tenths per cent of the | 2518 |
member's final average salary if the member has thirty-five or | 2519 |
more years of service credit under section 3307.53, 3307.57, | 2520 |
3307.75, 3307.751, 3307.752, 3307.761, 3307.763, 3307.77, or | 2521 |
3307.771 of the Revised Code, division (A)(2) or (B) of former | 2522 |
section 3307.513 of the Revised Code, former section 3307.514 of | 2523 |
the Revised Code, section 3307.72 of the Revised Code earned after | 2524 |
July 1, 1978, or any combination of service credit under those | 2525 |
sections; | 2526 |
(ii) For each year or fraction of a year of Ohio service | 2527 |
credit in excess of thirty years, two and two-tenths per cent of | 2528 |
the member's final average salary or, subject to the limitation | 2529 |
described in division (D)(2)(b) of this section, if the member has | 2530 |
more than thirty years service credit under section 3307.53, | 2531 |
3307.57, 3307.75, 3307.751, 3307.752, 3307.761, 3307.763, 3307.77, | 2532 |
or 3307.771 of the Revised Code, division (A)(2) or (B) of former | 2533 |
section 3307.513 of the Revised Code, former section 3307.514 of | 2534 |
the Revised Code, section 3307.72 of the Revised Code earned after | 2535 |
July 1, 1978, or any combination of service credit under those | 2536 |
sections, the per cent of final average salary shown in the | 2537 |
following schedule for each corresponding year or fraction of a | 2538 |
year of service credit under those sections that is in excess of | 2539 |
thirty years: | 2540 |
(b) For purposes of division (D)(2)(a)(ii) of this section, a | 2552 |
percentage of final average salary in excess of two and two-tenths | 2553 |
per cent shall be applied to service credit under section 3307.57 | 2554 |
of the Revised Code only if the service credit was established | 2555 |
under section 145.30, 145.301, 145.302, 145.47, 145.483, 3309.02, | 2556 |
3309.021, 3309.022, or 3309.47 of the Revised Code or restored | 2557 |
under section 145.31 or 3309.26 of the Revised Code. | 2558 |
(F) Notwithstanding any other provision of this section, on | 2602 |
application, a member who, as of July 1, 2015, has five or more | 2603 |
years of Ohio service credit and has attained age sixty, has | 2604 |
twenty-five or more years of Ohio service credit and has attained | 2605 |
age fifty-five, or has thirty or more years of Ohio service credit | 2606 |
shall be granted service retirement according to former section | 2607 |
3307.58 of the Revised Code as in effect immediately prior to the | 2608 |
effective date of this amendment. The member's benefit shall be | 2609 |
the greater of the amount the member would have been eligible for | 2610 |
had the member retired effective July 1, 2015, or the amount | 2611 |
determined under division (D)(3) of this section. | 2612 |
(D)(H) The annual single lifetime benefit of a member whose | 2618 |
retirement effective date is before August 1, 2013, shall be the | 2619 |
greater of the amounts determined under division (D)(1) or (E)(1) | 2620 |
of this section as appropriate or under this division. The benefit | 2621 |
shall not exceed the lesser of the sum of the following amounts or | 2622 |
the limit established by section 415 of the "Internal Revenue Code | 2623 |
of 1986," 100 Stat. 2085, 26 U.S.C.A. 415, as amended: | 2624 |
(E)(I) If a member's disability benefit was terminated under | 2638 |
section 3307.48 of the Revised Code and the member's retirement | 2639 |
under this section is effective on the first day of the month | 2640 |
following the last day for which the disability benefit was paid, | 2641 |
the member's annual single lifetime benefit determined under | 2642 |
division (D) or (E) of this section shall be increased by a | 2643 |
percentage equal to the total of any percentage increases the | 2644 |
member received under section 3307.67 of the Revised Code, plus | 2645 |
any additional amount the member received under this chapter while | 2646 |
receiving the disability benefit. The increase shall be based on | 2647 |
the plan of payment selected by the member under section 3307.60 | 2648 |
of the Revised Code. However, the benefit used to calculate any | 2649 |
future increases under section 3307.67 of the Revised Code shall | 2650 |
be based on the plan of payment selected by the member, plus any | 2651 |
additional amount added to the benefit determined under this | 2652 |
division that established a new base benefit to the member. | 2653 |
(b) An allowance calculated by multiplying the applicant's | 2671 |
total service credit, including service credit for the last | 2672 |
continuous period during which the applicant received a disability | 2673 |
benefit under section 3307.631 of the Revised Code, by two and | 2674 |
two-tenths per cent of the applicant's final average salary, | 2675 |
except that the allowance shall be determined without application | 2676 |
of division (B) of section 3307.501 of the Revised Code and shall | 2677 |
not exceed forty-five per cent of the applicant's final average | 2678 |
salary. | 2679 |
(2) AnUsing the allowance calculated under division (B)(1) | 2680 |
of this section adjusted for the plan of payment selected by the | 2681 |
member under section 3307.60 of the Revised Code, an amount equal | 2682 |
to the additional allowance the recipient would receive under | 2683 |
section 3307.67 of the Revised Code, plus any other additional | 2684 |
amount the recipient would receive under this chapter, had the | 2685 |
recipient retired under section 3307.58 of the Revised Code | 2686 |
effective on the effective date offor the recipient's most recent | 2687 |
continuous period of receipt of a disability benefit under section | 2688 |
3307.631 of the Revised Code. | 2689 |
Sec. 3307.60. (A) Upon application for retirement as | 2702 |
provided in section 3307.58 or 3307.59 of the Revised Code, the | 2703 |
retirant may elect a plan of payment under this division or, on | 2704 |
and after the date specified in division (B) of this section, a | 2705 |
plan of payment under that division. Under this division, the | 2706 |
retirant may elect to receive a single lifetime benefit, or may | 2707 |
elect to receive the actuarial equivalent of the retirant's | 2708 |
benefit in a lesser amount, payable for life, and continuing after | 2709 |
death to a beneficiary under one of the following optional plans: | 2710 |
(3) Option 3. The retirant's lesser benefit established as | 2718 |
provided under option 1 or option 2 shall be paid for life to the | 2719 |
sole beneficiary named at retirement, except that in the event of | 2720 |
the death of the sole beneficiary or termination of a marital | 2721 |
relationship between the retirant and the sole beneficiary the | 2722 |
retirant may elect to return to a single lifetime benefit | 2723 |
equivalent as determined by the state teachers retirement board, | 2724 |
if, in the case of termination of a marital relationship, the | 2725 |
election is made with the written consent of the beneficiary or | 2726 |
pursuant to an order of the court with jurisdiction over | 2727 |
termination of the marital relationship. | 2728 |
(4) Option 4. The retirant's lesser benefit or a portion of | 2729 |
the retirant's lesser benefit shall be paid for life to two, | 2730 |
three, or four surviving beneficiaries named at retirement. The | 2731 |
portion of the allowance that continues after the member's death | 2732 |
shall be allocated among the beneficiaries at the time of the | 2733 |
member's retirement. If the retirant elects this plan as required | 2734 |
by a court order issued under section 3105.171 or 3105.65 of the | 2735 |
Revised Code or the laws of another state regarding the division | 2736 |
of marital property and compliance with the court order requires | 2737 |
the allocation of a portion less than ten per cent to any person, | 2738 |
the retirant shall allocate a portion less than ten per cent to | 2739 |
that beneficiary in accordance with that order. In all other | 2740 |
circumstances, no portion allocated under this plan of payment | 2741 |
shall be less than ten per cent. The total of the portions | 2742 |
allocated shall not exceed one hundred per cent of the retirant's | 2743 |
lesser allowance. In the event of the death of a beneficiary or | 2744 |
termination of a marital relationship between the retirant and a | 2745 |
beneficiary, the retirant may elect to cancel the portion of the | 2746 |
plan of payment providing continuing lifetime benefits to that | 2747 |
beneficiary except that, in the case of termination of a marital | 2748 |
relationship, the election may be made only with the written | 2749 |
consent of the beneficiary or pursuant to an order of the court | 2750 |
with jurisdiction over termination of the marital relationship. | 2751 |
The retirant shall receive the actuarial equivalent of the | 2752 |
remainder of the retirant's single lifetime benefit based on the | 2753 |
number of remaining beneficiaries, with no change in the amount | 2754 |
payable to any remaining beneficiary. | 2755 |
(5) Option 5. Upon the retirant's death before the expiration | 2756 |
of a certain period from the retirement date and elected by the | 2757 |
retirant, and approved by the board, the retirant's benefit shall | 2758 |
be continued for the remainder of such period to the beneficiary. | 2759 |
Monthly benefits shall not be paid to joint beneficiaries, but | 2760 |
they may receive the present value of any remaining payments in a | 2761 |
lump sum settlement. If all beneficiaries die before the | 2762 |
expiration of the certain period, the present value of all | 2763 |
payments yet remaining in such period shall be paid to the estate | 2764 |
of the beneficiary last receiving. | 2765 |
In the event of the death of a beneficiary or termination of | 2781 |
a marital relationship between the retirant and a beneficiary, the | 2782 |
retirant may elect to cancel the portion of the plan of payment | 2783 |
providing continuing lifetime benefits to that beneficiary. The | 2784 |
retirant shall receive the actuarial equivalent of the remainder | 2785 |
of the retirant's single lifetime benefit based on the number of | 2786 |
remaining beneficiaries, with no change in the amount payable to | 2787 |
any remaining beneficiary. In the case of termination of a marital | 2788 |
relationship, the election may be made only with the written | 2789 |
consent of the beneficiary or pursuant to an order of the court | 2790 |
with jurisdiction over termination of the marital relationship. | 2791 |
(2) A divorce, annulment, or marriage dissolution shall, at | 2834 |
the election of the retirant, cancel any optional plan selected at | 2835 |
retirement to provide continuing lifetime benefits to the spouse | 2836 |
as designated beneficiary and return the retirant to a single | 2837 |
lifetime benefit equivalent as determined by the board if the | 2838 |
election is made with the written consent of the beneficiary or | 2839 |
pursuant to an order of a court of common pleas or the court of | 2840 |
another state with jurisdiction over the termination of the | 2841 |
marriage. | 2842 |
(a) A retirant who elected to receive a single lifetime | 2845 |
benefit or an optional plan of payment under division (A)(3) or | 2846 |
(4) of this section may elect a new optional plan of payment based | 2847 |
on the actuarial equivalent of the retirant's single lifetime | 2848 |
benefit, as determined by the board, except that if the. The new | 2849 |
plan must be a plan described in division (A)(1), (2), (3), (4), | 2850 |
or (6) of this section under which only the retirant's new spouse | 2851 |
is added as a beneficiary and the application for the new plan | 2852 |
must be received by the board prior to the retirant's death. A | 2853 |
spouse may not be added if there are four beneficiaries under | 2854 |
division (A)(4) of this section that must be retained pursuant to | 2855 |
a court order described under division (H)(1)(b) of this section | 2856 |
or if the amount payable to any beneficiary pursuant to such court | 2857 |
order would be reduced. A retirant who is receiving a retirement | 2858 |
allowance under an optional plan that provides for continuation of | 2859 |
benefits after death to a former spouse, the retirant may elect a | 2860 |
new optional plan of payment only with the written consent of the | 2861 |
former spouse or pursuant to an order of the court with | 2862 |
jurisdiction over the termination of the marriage, except that | 2863 |
consent of the former spouse is not required if the new optional | 2864 |
plan of payment will not affect payments to the former spouse. | 2865 |
(H)(1) Except as otherwise provided in this division and | 2885 |
division (H)(2) of this section, an application for service | 2886 |
retirement made pursuant to section 3307.58 or 3307.59 of the | 2887 |
Revised Code by a married person shall be considered an election | 2888 |
of a benefit under option 23 as provided for in division | 2889 |
(A)(2)(3) of this section under which one-half of the lesser | 2890 |
benefit payable during the life of the retirant will be paid after | 2891 |
death to the retirant's spouse for life as sole beneficiary. The | 2892 |
exceptions are as follows: | 2893 |
(a) That, if the member is married, unless the spouse | 2928 |
consents to another plan of payment or there is a court order | 2929 |
dividing marital property issued under section 3105.171 or 3105.65 | 2930 |
of the Revised Code or the laws of another state regarding the | 2931 |
division of marital property that provides for payment in a | 2932 |
specified amount, the member's retirement allowance will be paid | 2933 |
under "option 23" as provided for in division (A)(2)(3) of this | 2934 |
section and consist of the actuarial equivalent of the member's | 2935 |
retirement allowance in a lesser amount payable for life and | 2936 |
one-half of the lesser allowance continuing after death to the | 2937 |
surviving spouse for the life of the spouse; | 2938 |
(4) If the retirant does not select an optional plan of | 2947 |
payment as described in division (H)(1)(a) of this section, no | 2948 |
court has ordered a plan of payment described in division | 2949 |
(H)(1)(b) of this section, and the board does not receive the | 2950 |
written statement provided for in division (H)(1)(c) of this | 2951 |
section, the board shall determine and pay the retirement | 2952 |
allowance in accordance with this division, except that the board | 2953 |
may provide by rule for waiver by the board of the statement and | 2954 |
payment of the benefits other than in accordance with this | 2955 |
division or payment under section 3307.56 of the Revised Code if | 2956 |
the retirant is unable to obtain the statement due to absence or | 2957 |
incapacity of the spouse or other cause specified by the board. | 2958 |
Not later than October 16, 1992, the state teachers | 2977 |
retirement board shall give each person who is a member on July | 2978 |
29, 1992, the opportunity to elect disability coverage either | 2979 |
under former section 3307.43 of the Revised Code or under former | 2980 |
section 3307.431 of the Revised Code. The board shall mail notice | 2981 |
of the election, accompanied by an explanation of the coverage | 2982 |
under each of the Revised Code sections and a form on which the | 2983 |
election is to be made, to each member at the member's last known | 2984 |
address. The board shall also provide the explanation and form to | 2985 |
any member on the member's request. | 2986 |
Regardless of whether the member actually receives notice of | 2987 |
the right to make an election, a member who fails to file a valid | 2988 |
election under this section shall be considered to have elected | 2989 |
disability coverage under section 3307.63 of the Revised Code. To | 2990 |
be valid, an election must be made on the form provided by the | 2991 |
board, signed by the member, and filed with the board not later | 2992 |
than one hundred eighty days after the date the notice was mailed, | 2993 |
or, in the case of a form provided at the request of a member, a | 2994 |
date specified by rule of the board. Once made, an election is | 2995 |
irrevocable, but if the member ceases to be a member of the | 2996 |
system, the election is void. If a person who makes an election | 2997 |
under this section also makes an election under section 145.35 or | 2998 |
3309.39 of the Revised Code, the election made for the system that | 2999 |
pays a disability benefit to that person shall govern the benefit. | 3000 |
(B) Application for a disability benefit may be made by a | 3007 |
member, by a person acting in the member's behalf, or by the | 3008 |
member's employer,and if the member is participating in the plan | 3009 |
described in sections 3307.50 to 3307.79 of the Revised Code, has | 3010 |
at least five years of total service credit, and has disability | 3011 |
coverage under section 3307.63 or 3307.631 of the Revised Code | 3012 |
division (A) of this section.
The | 3013 |
(C) Medical examination of the member shall be conducted by a | 3020 |
competent, disinterested physician or physicians selected by the | 3021 |
board to determine whether the member is mentally or physically | 3022 |
incapacitated for the performance of duty by a disabling | 3023 |
condition, either permanent or presumed to be permanent for twelve | 3024 |
continuous months following the filing of an application. The | 3025 |
disability must have occurred since last becoming a member, or it | 3026 |
must have increased since last becoming a member to such an extent | 3027 |
as to make the disability permanent or presumably permanent for | 3028 |
twelve continuous months following the filing of an application. | 3029 |
(D) Application for a disability benefit must be made within | 3030 |
two yearsa two-year period from the date the member's | 3031 |
contributing service terminated, unless the board determines that | 3032 |
the member's medical records demonstrate conclusively that at the | 3033 |
time the two-year period expired, the member was physically or | 3034 |
mentally incapacitated for duty as a teacher and unable to make | 3035 |
application, except that if the member did not earn any service | 3036 |
credit before July 1, 2013, application must be made within a | 3037 |
one-year period from the date contributing service terminated. | 3038 |
Application may not be made by any person receiving service | 3039 |
retirement benefits under section 3307.58 or 3307.59 of the | 3040 |
Revised Code or any person whose accumulated contributions | 3041 |
standing to the credit of the person's individual account in the | 3042 |
teachers' savings fund have been paid under section 3307.56 of the | 3043 |
Revised Code. | 3044 |
(E) If the physician or physicians determine that the member | 3045 |
qualifies for a disability benefit, the board concurs with the | 3046 |
determination, and the member agrees to medical treatment as | 3047 |
specified in division (G) of this section, the member shall | 3048 |
receive a disability benefit under section 3307.63 or 3307.631 of | 3049 |
the Revised Code. If such physician or physicians determine that | 3050 |
the member does not qualify for a disability benefit, the report | 3051 |
of the examiner or examiners shall be evaluated by a board of | 3052 |
medical review composed of at least three physicians appointed by | 3053 |
the retirement board. | 3054 |
(G) The state teachers retirement board shall adopt rules | 3062 |
requiring each disability benefit recipient, as a condition of | 3063 |
continuing to receive a disability benefit, to agree in writing to | 3064 |
obtain any medical treatment recommended by the board's physician | 3065 |
and submit medical reports regarding the treatment. If the board | 3066 |
determines that a disability benefit recipient is not obtaining | 3067 |
the medical treatment or the board does not receive a required | 3068 |
medical report, the disability benefit shall be suspended until | 3069 |
the treatment is obtained, the report is received by the board, or | 3070 |
the board's physician certifies that the treatment is no longer | 3071 |
helpful or advisable. Should the recipient's failure to obtain | 3072 |
treatment or submit a medical report continue for one year, the | 3073 |
recipient's right to the disability benefit shall be terminated as | 3074 |
of the effective date of the original suspension. | 3075 |
(B) A pension that shall be the difference between the | 3102 |
annuity and an annual amount determined by multiplying the number | 3103 |
of years of Ohio service credit of such member, and in addition | 3104 |
the number of years and fraction of a year between the effective | 3105 |
date of the member's disability retirement and the date the member | 3106 |
attained age sixty, assuming continuous service, by eighty-six | 3107 |
dollars, or by two per cent of the member's final average salary, | 3108 |
whichever is greater. Such disability retirement shall not be less | 3109 |
than thirty per cent nor more than seventy-five per cent of the | 3110 |
member's final average salary, except that it shall not exceed any | 3111 |
limit to which the retirement system is subject under section 415 | 3112 |
of the "Internal Revenue Code of 1986," 100 Stat. 2085, 26 | 3113 |
U.S.C.A. 415, as amended. | 3114 |
(1) If a deceased member was eligible for a service | 3215 |
retirement allowance as provided in section 3307.58 or 3307.59 of | 3216 |
the Revised Code, a surviving spouse or an individual designated | 3217 |
as the member's sole beneficiary pursuant to division (B) of | 3218 |
section 3307.562 of the Revised Code who was a qualified child or | 3219 |
dependent parent of the member or received one-half or more of | 3220 |
support from the member during the twelve-month period preceding | 3221 |
the member's death may elect to receive a monthly benefit computed | 3222 |
as the joint-survivor allowance designated as option 1 in section | 3223 |
3307.60 of the Revised Code, which the member would have received | 3224 |
had the member retired on the last day of the month of death and | 3225 |
had the member at that time selected such joint-survivor plan. | 3226 |
Payment shall begin with the month subsequent to the member's | 3227 |
death. | 3228 |
(i) The deceased member earned service credit before July 1, | 3232 |
2013, and had completed at least one and one-half years of credit | 3233 |
for Ohioqualifying service credit, with at least one-quarter year | 3234 |
of Ohio contributingqualifying service credit within the two and | 3235 |
one-half years prior to the date of death, or, if the member had | 3236 |
not earned service credit before July 1, 2013, had completed at | 3237 |
least five years of qualifying service credit and died not later | 3238 |
than one year after the date contributing service terminated. | 3239 |
(3)(a) If at the time of death the deceased member was | 3277 |
receiving a disability benefit under section 3307.63 or 3307.631 | 3278 |
of the Revised Code, the benefit elected under division (C)(1) or | 3279 |
(2) of this section shall be increased by a percentage equal to | 3280 |
the total of any percentage increases the member received under | 3281 |
section 3307.67 of the Revised Code, plus any additional amount | 3282 |
the member received under this chapter while receiving the | 3283 |
disability benefit. The increase shall be based on the benefit | 3284 |
determined under division (C)(1) or (2) of this section. However, | 3285 |
the benefit used to calculate any future increases under section | 3286 |
3307.67 of the Revised Code shall be the benefit determined under | 3287 |
division (C)(1) or (2) of this section. | 3288 |
(b) If eligibility for a benefit under division (C)(1) or (2) | 3289 |
of this section is not established until more than one year after | 3290 |
the member's death, the annual benefit shall be increased by a | 3291 |
percentage equal to the total of the percentage increases that | 3292 |
would have been made under section 3307.67 of the Revised Code, | 3293 |
plus any additional amount that would have been paid under this | 3294 |
chapter had the benefit begun in the year in which the member | 3295 |
died. However, the benefit used to calculate any future increases | 3296 |
under section 3307.67 of the Revised Code shall be the benefit | 3297 |
determined under division (C)(1) or (2) of this section, plus any | 3298 |
additional amounts added to the benefit determined under this | 3299 |
division that established a new base benefit to the deceased | 3300 |
member. | 3301 |
Benefits to a qualified survivor shall terminate upon a first | 3335 |
marriage, abandonment, or adoption, or during active military | 3336 |
service. The termination of benefits is effective on the first day | 3337 |
of the month following the day the person ceases to be a qualified | 3338 |
survivor. Benefits to a deceased member's surviving spouse that | 3339 |
were terminated under a former version of this section that | 3340 |
required termination due to remarriage and were not resumed prior | 3341 |
to the effective date of this amendment shall resume on the first | 3342 |
day of the month immediately following receipt by the board of an | 3343 |
application on a form provided by the board. | 3344 |
Upon the death of any subsequent spouse who was a member of | 3345 |
the public employees retirement system, state teachers retirement | 3346 |
system, or school employees retirement system, the surviving | 3347 |
spouse of such member may elect to continue receiving benefits | 3348 |
under this division, or to receive survivor's benefits, based upon | 3349 |
the subsequent spouse's membership in one or more of the systems, | 3350 |
for which such surviving spouse is eligible under this section or | 3351 |
section 145.45 or 3309.45 of the Revised Code. If the surviving | 3352 |
spouse elects to continue receiving benefits under this division, | 3353 |
such election shall not preclude the payment of benefits under | 3354 |
this division to any other qualified survivor. | 3355 |
If, after determining the monthly benefits to be paid under | 3370 |
division (C)(2) of this section, the system receives notice that | 3371 |
there is a qualified survivor who was not considered when the | 3372 |
determination was made, the system shall, notwithstanding section | 3373 |
3307.42 of the Revised Code, recalculate the monthly benefits with | 3374 |
that qualified survivor included, even if the benefits to | 3375 |
qualified survivors already receiving benefits are reduced as a | 3376 |
result. The benefits shall be calculated as if the qualified | 3377 |
survivor who is the subject of the notice became eligible on the | 3378 |
date the notice was received and shall be paid to qualified | 3379 |
survivors effective on the first day of the first month following | 3380 |
the system's receipt of the notice. | 3381 |
(2) If benefits under division (C)(2) of this section to all | 3388 |
persons, or to all persons other than a surviving spouse or sole | 3389 |
beneficiary, terminate, there are no children under the age of | 3390 |
twenty-two years, and the surviving spouse or beneficiary | 3391 |
qualifies for benefits under division (C)(1) of this section, the | 3392 |
surviving spouse or beneficiary may elect to receive benefits | 3393 |
under division (C)(1) of this section. The benefit shall be | 3394 |
calculated based on the age of the spouse or beneficiary at the | 3395 |
time of the member's death and is effective on the first day of | 3396 |
the month following receipt by the board of an application for | 3397 |
benefits under division (C)(1) of this section. | 3398 |
Sec. 3307.661. On the death of a retirant or disability | 3406 |
benefit recipient who at the time of death is receiving, under the | 3407 |
STRS defined benefit plan
described in sections 3307.50 to 3307.79 | 3408 |
of the Revised Code, a service retirement allowance or disability | 3409 |
benefit, the state teachers retirement system shall make a | 3410 |
lump-sum payment of one thousand dollars to any designated or | 3411 |
qualified beneficiary under division (D)(1) of section 3307.562 of | 3412 |
the Revised Code. If there is no beneficiary, the state teachers | 3413 |
retirement board may approve payment to either the person | 3414 |
responsible for the burial expenses or to the decedent's estate | 3415 |
following the completion of an application on a form approved by | 3416 |
the board. | 3417 |
Sec. 3307.67. (A) TheExcept as provided in divisions (D) | 3424 |
and (E) of this section, the state teachers retirement board shall | 3425 |
annually increase each allowance or benefit payable under sections | 3426 |
3307.50 to 3307.79 of the Revised Code by three per cent, except | 3427 |
that nothe STRS defined benefit plan. Through July 31, 2013, the | 3428 |
increase shall be three per cent. On and after August 1, 2013, the | 3429 |
increase shall be two per cent. No allowance or benefit shall | 3430 |
exceed the limit
established byas annually determined pursuant | 3431 |
to section 415 of the "Internal Revenue Code of 1986," 100 Stat. | 3432 |
2085, 26 U.S.C.A. 415, as amended, and regulations adopted | 3433 |
pursuant thereto but before August 1, 2013. The limit may be | 3434 |
adjusted in accordance with rules adopted by the board. | 3435 |
(B) The first increase is payable to all persons becoming | 3436 |
eligible for an allowance or benefit after June 30, 1971, upon | 3437 |
such persons receiving an allowance or benefit for twelve months. | 3438 |
TheFor an allowance or benefit beginning on or after August 1, | 3439 |
2013, except for an allowance or benefit that was immediately | 3440 |
preceded by a disability benefit granted prior to that date that | 3441 |
has been terminated, the first increase is payable upon such | 3442 |
persons receiving an allowance or benefit for sixty months. | 3443 |
The increased amount is payable for the ensuing twelve-month | 3444 |
period or until the next increase is granted under this section, | 3445 |
whichever is later. Subsequent increases shall be determined from | 3446 |
the date of the first increase paid to the former member in the | 3447 |
case of an allowance being paid a beneficiary under an option, or | 3448 |
from the date of the first increase to the survivor first | 3449 |
receiving an allowance or benefit in the case of an allowance or | 3450 |
benefit being paid to the subsequent survivors of the former | 3451 |
member. | 3452 |
Sec. 3307.671. In December 1980, and in December of each | 3486 |
year thereafter, the state teachers retirement board may allocate | 3487 |
an amount from the guarantee fund created in division (E) of | 3488 |
section 3307.14 of the Revised Code to establish a temporary | 3489 |
supplemental benefit fund for the purpose of making a lump sum | 3490 |
benefit payment to all persons receiving an allowance, pension, or | 3491 |
benefit under sections 3307.50 to 3307.79 of the Revised Codethe | 3492 |
STRS defined benefit plan for each of the twelve months preceding | 3493 |
the first day of the following January. | 3494 |
On or after July 1, 1980, and on or after the first day of | 3495 |
July of each year thereafter, the board may determine the amount | 3496 |
to be placed in a temporary supplemental benefit fund. Such | 3497 |
amount, if placed, shall be not more than twenty-five per cent of | 3498 |
the income from investments for the twelve months preceding the | 3499 |
first day of July not otherwise required to be credited to the | 3500 |
several funds set forth in section 3307.14 of the Revised Code. | 3501 |
Sec. 3307.694. On and after July 1, 1968, all allowances, | 3516 |
pensions, or other benefits which were payable before July 1, | 3517 |
1968, pursuant to the provisions of former sections 3307.26, | 3518 |
3307.38, 3307.41, 3307.43, 3307.49, and 3307.50 of the Revised | 3519 |
Code, shall be increased by the percentages determined by the | 3520 |
effective date of the allowance, pension, or benefit, as follows: | 3521 |
All increases determined by applying the percentages in the | 3538 |
preceding table shall be reduced by the dollar amount of the | 3539 |
increases granted in 1965 pursuant to divisions (D), (E), and (F) | 3540 |
of former section 3307.401 of the Revised Code, except that no | 3541 |
allowance, pension, or benefit shall be reduced below the amount | 3542 |
due on June 30, 1968, and no allowance granted under this section | 3543 |
shall be less than a total annual sum of thirty-six dollars. | 3544 |
(2)(a) If the purchase will be completed not later than | 3564 |
December 31, 2013, for each year, or portion of a year, of credit | 3565 |
purchased, pay to the employees' savings fund the amount specified | 3566 |
by former section 3307.73, 3307.74, 3307.751, 3307.76, 3307.771, | 3567 |
or 3307.78 of the Revised Code as the appropriate section existed | 3568 |
immediately before the effective date of this section. | 3569 |
(c) If, on the effective date of this amendment, the purchase | 3577 |
is being made through a payroll deduction plan under section | 3578 |
3307.701 of the Revised Code and at least one deduction has been | 3579 |
made, pay to the employees' savings fund the amount specified by | 3580 |
former section 3307.73, 3307.74, 3307.751, 3307.76, 3307.771, or | 3581 |
3307.78 of the Revised Code as the appropriate section existed | 3582 |
immediately before the effective date of this section. | 3583 |
Sec. 3307.71. Except as provided in this section, section | 3671 |
3305.05, or section 3305.051 of the Revised Code, a member or | 3672 |
former member of the state teachers retirement system | 3673 |
participating in the STRS defined benefit plan
described in | 3674 |
sections 3307.50 to 3307.79 of the Revised Code who has at least | 3675 |
one and one-half years of contributing service credit in this | 3676 |
system, the public employees retirement system, the school | 3677 |
employees retirement system, the Ohio police and fire pension | 3678 |
fund, or the state highway patrol retirement system after the | 3679 |
withdrawal and cancellation of service credit in this system may | 3680 |
restore all or part of such service credit by repayment of the | 3681 |
amount withdrawn. To this amount shall be added interest at a rate | 3682 |
per annum, compounded annually, to be determined by the state | 3683 |
teachers retirement board. Interest shall be payable from the | 3684 |
first of the month of withdrawal through the month of repayment. A | 3685 |
member may choose to purchase only part of such credit in any one | 3686 |
payment. The cost for restoring partial service shall be | 3687 |
calculated as the proportion that it bears to the total cost at | 3688 |
the time of purchase and is subject to the rules established by | 3689 |
the board. If a former member is eligible to buy the service | 3690 |
credit as a member of the Ohio police and fire pension fund, the | 3691 |
state highway patrol retirement system, or the city of Cincinnati | 3692 |
Retirement System, the former member is ineligible to restore that | 3693 |
service credit under this section. | 3694 |
Sec. 3307.711. (A) A member of the state teachers retirement | 3705 |
system who has at least eighteen months of contributing service | 3706 |
credit in the system, the police and firemen's disability and | 3707 |
pension fund, public employees retirement system, school employees | 3708 |
retirement system, or state highway patrol retirement system, and | 3709 |
is a former member of or no longer contributing to the public | 3710 |
employees retirement system or school employees retirement system | 3711 |
may restore service credit under section 145.31 or 3309.26 of the | 3712 |
Revised Code by making payments pursuant to this section through a | 3713 |
payroll deduction plan established under section
3307.703307.701 | 3714 |
of the Revised Code. A member seeking to restore this service | 3715 |
credit shall notify the state teachers retirement system on a form | 3716 |
approved by the state teachers retirement board. After receiving | 3717 |
the notice, the state teachers retirement system shall request | 3718 |
that the former retirement system calculate under section 145.312 | 3719 |
or 3309.262 of the Revised Code the cost to the member to restore | 3720 |
service credit for each year or portion of a year of service for | 3721 |
which the member seeks to restore the service credit. The amount | 3722 |
the former retirement system certifies as the cost of restoring | 3723 |
the service credit, plus interest described in division (B) of | 3724 |
this section, is the cost to the member of restoring the service | 3725 |
credit. On receiving the certification from the former retirement | 3726 |
system, the state teachers retirement system shall notify the | 3727 |
member of the cost. | 3728 |
(D) On application for a payment of accumulated contributions | 3744 |
or an age and service retirement, disability, or survivor benefit | 3745 |
under Chapter 145., 3307., or 3309. of the Revised Code by a | 3746 |
member who made payments under this section to restore service | 3747 |
credit in a former retirement system, the state teachers | 3748 |
retirement system shall pay to the former retirement system an | 3749 |
amount equal to the total amount paid by the member under this | 3750 |
section. | 3751 |
Sec. 3307.72. The state teachers retirement board shall | 3766 |
credit years of service to a member participating in the STRS | 3767 |
defined benefit plan described in sections 3307.50 to 3307.79 of | 3768 |
the Revised Code who was employed for teaching service by an | 3769 |
employer who failed to make retirement contributions to the state | 3770 |
teachers retirement system during any year or years beginning on | 3771 |
or after September 1, 1920, if the member deposits in the | 3772 |
teachers' savings fund a per cent of the member's annual | 3773 |
compensation for such service, at the rate of contribution then in | 3774 |
effect, plus interest compounded annually at a rate established by | 3775 |
the board. The member may choose to purchase only part of such | 3776 |
credit in any one payment, subject to board rules. | 3777 |
Sec. 3307.73. (A)(1) Except as provided in division (A)(2) | 3785 |
of this section, a member of the state teachers retirement system | 3786 |
participating in the STRS defined benefit plan described in | 3787 |
sections 3307.50 to 3307.79 of the Revised Code who has at least | 3788 |
eighteen months of contributing service in the system, the public | 3789 |
employees retirement system, or school employees retirement system | 3790 |
who chose to be exempted from membership in one or more of the | 3791 |
systems pursuant to section 145.03, or 3309.23 of the Revised | 3792 |
Code, or former section 3307.25 or 3309.25 of the Revised Code, or | 3793 |
was exempt under section 3307.24 of the Revised Code, may purchase | 3794 |
credit under section 3307.70 of the Revised Code for each year or | 3795 |
portion of a year of service for which the member was exempted. | 3796 |
(D) Credit purchasable underdescribed in this section shall | 3816 |
not exceed one year of service for any twelve-month period. If the | 3817 |
period of service for which credit is purchasable under this | 3818 |
section is concurrent with a period of service that will be used | 3819 |
to calculate a retirement benefit from this system, the public | 3820 |
employees retirement system, or school employees retirement | 3821 |
system, the amount of the credit shall be adjusted in accordance | 3822 |
with rules adopted by the board. | 3823 |
(C) A member who is also a member of the public employees | 3824 |
retirement system or school employees retirement system shall | 3825 |
purchase credit for any service for which the member exempted the | 3826 |
member's self under section 145.03 or 3309.23 of the Revised Code, | 3827 |
or former section 3307.25 or 3309.25 of the Revised Code, or was | 3828 |
exempt under section 3307.24 of the Revised Code, from the | 3829 |
retirement system in which the member has the greatest number of | 3830 |
years of service credit. If the member receives benefits under | 3831 |
section 3307.57 of the Revised Code, the state retirement system | 3832 |
that determines and pays the retirement benefit shall receive from | 3833 |
the other system or systems the amounts paid by the member for | 3834 |
purchase of credit for exempt service plus interest at the | 3835 |
actuarial assumption rate of the system paying that amount. The | 3836 |
interest shall be for the period beginning on the date of the | 3837 |
member's last payment for purchase of the credit and ending on the | 3838 |
date of the member's retirement. | 3839 |
(B)(1) Except as otherwise provided in division (B)(2) of | 3875 |
this section, for each year of service purchased under this | 3876 |
section, a member shall pay to the state teachers retirement | 3877 |
system for credit to the member's accumulated account an amount | 3878 |
equal to the member's retirement contribution for full-time | 3879 |
employment for the first year of Ohio service following | 3880 |
termination of the service to be purchased. To this amount shall | 3881 |
be added an amount equal to compound interest at a rate | 3882 |
established by the state teachers retirement board from the date | 3883 |
of membership in the state teachers retirement system to the date | 3884 |
of payment. | 3885 |
(2) For each year of service described in division (A) of | 3886 |
this section that commenced on or after July 1, 1989, and, without | 3887 |
regard to when the service commenced, for each year of service | 3888 |
purchased under division (A) of this section by a member who first | 3889 |
established membership in the retirement system on or after July | 3890 |
1, 1989, the member shall pay to the retirement system for credit | 3891 |
to the member's individual account an amount specified by the | 3892 |
state teachers retirement board that shall be not less than fifty | 3893 |
per cent of the additional liability resulting from the purchase | 3894 |
of that year of service as determined by an actuary employed by | 3895 |
the board. | 3896 |
(C) AWith the exception of social security, a member is | 3902 |
ineligible to purchase undercredit for service described in this | 3903 |
section service that is used in the calculation of any retirement | 3904 |
benefit that has been paid, is currently being paid, or is payable | 3905 |
in the future to such member under any other retirement program, | 3906 |
except social securityor service for five or more years for which | 3907 |
contributions were made to a defined contribution plan if the | 3908 |
member has been paid all contributions standing to the member's | 3909 |
credit or is not entitled to be paid any such contributions. At | 3910 |
the time the credit is purchased, the member shall certify on a | 3911 |
form furnished by the board that the member does and will conform | 3912 |
to this requirement. | 3913 |
(1) Army, navy, air force, marine corps, coast guard, | 3927 |
auxiliary corps as established by congress, army nurse corps, navy | 3928 |
nurse corps, red cross nurse serving with the army, navy, air | 3929 |
force, or hospital service of the United States, full-time service | 3930 |
with the American red cross in a combat zone, and such other | 3931 |
service as is designated by the congress as included therein; | 3932 |
(B) Upon presentation of an honorable discharge or | 3938 |
certificate of service, and subject to rules adopted by the state | 3939 |
teachers retirement board, any member of the state teachers | 3940 |
retirement system participating in the STRS defined benefit plan | 3941 |
described in sections 3307.50 to 3307.79 of the Revised Code who | 3942 |
was or is out of active service as a teacher by reason of having | 3943 |
become a member of the armed forces of the United States on active | 3944 |
duty or service shall be considered as on indefinite leave of | 3945 |
absence and shall have such service not in excess of ten years | 3946 |
considered as the equivalent of prior service, provided the member | 3947 |
returns to service as a teacher within two years after the | 3948 |
effective date of discharge and establishes one year of service | 3949 |
credit, or becomes a member of either the public employees | 3950 |
retirement system or the school employees retirement system within | 3951 |
such two-year period and establishes at least one year of service | 3952 |
credit. The retirement board shall extend such two-year period an | 3953 |
additional year if failure to return is due to continuous | 3954 |
professional training as determined by said board. If such member, | 3955 |
otherwise qualified for such credit, canceled membership by the | 3956 |
withdrawal of the member's accumulated account, such military | 3957 |
service credit shall be granted following the restoration of the | 3958 |
member's canceled service credit as provided by section 3307.71 of | 3959 |
the Revised Code. Any member of the state teachers retirement | 3960 |
system or anyone who becomes a new entrant who is assigned or | 3961 |
called to take charge of special training for essential national | 3962 |
defense work or veterans' training courses in any of the public | 3963 |
schools or universities of the state may make regular | 3964 |
contributions to the state teachers retirement system even though | 3965 |
the member's or new entrant's salary is paid from federal funds, | 3966 |
provided the member's or new entrant's salary is disbursed by an | 3967 |
employer. | 3968 |
(C) A member of the state teachers retirement system is | 3969 |
ineligible to receive service credit under this section for any | 3970 |
year of military service credit used in the calculation of any | 3971 |
retirement benefit currently being paid to the member or payable | 3972 |
in the future under any other retirement program, except social | 3973 |
security, or used to obtain service credit pursuant to section | 3974 |
3307.751 or 3307.752 of the Revised Code. At the time such credit | 3975 |
is requested, the member shall certify on a form supplied by the | 3976 |
board that the member does and will conform to this requirement. | 3977 |
This division does not cancel any military service credit earned | 3978 |
prior to March 15, 1979. | 3979 |
On presentation of documentation of the service and subject | 3992 |
to state teachers retirement board rules, a member participating | 3993 |
in the STRS defined benefit plan described in sections 3307.50 to | 3994 |
3307.79 of the Revised Code may purchase service credit that shall | 3995 |
be considered as the equivalent of Ohio serviceunder section | 3996 |
3307.70 of the Revised Code for each year or portion of a year of | 3997 |
service incurred by reason of having been on active duty as a | 3998 |
member of the Ohio national guard or reserves for which the member | 3999 |
is not eligible to purchase credit under division (A)(1) of this | 4000 |
section. For purposes of division (A)(2) of this section, active | 4001 |
duty in the reserves or the Ohio national guard includes assembly | 4002 |
for drill and instruction; training at encampments, maneuvers, | 4003 |
outdoor target practice, or other exercises; and any training or | 4004 |
duty in this state ordered by the governor. | 4005 |
A member participating in the STRS defined benefit plan | 4015 |
described in sections 3307.50 to 3307.79 of the Revised Code may | 4016 |
purchase service credit that shall be considered as the equivalent | 4017 |
of Ohio serviceunder section 3307.70 of the Revised Code for each | 4018 |
year of service such member was a prisoner of war. The number of | 4019 |
years purchased under this division shall not exceed five. Service | 4020 |
credit may be purchased under this division for the same years of | 4021 |
service used to purchase service credit underdescribed in | 4022 |
division (A) of this section. | 4023 |
(D)(1) Except as otherwise provided in division (D)(2) or (3) | 4027 |
of this section, for each year or portion of a year of service | 4028 |
purchased under division (A) or (B) of this section, the member | 4029 |
shall pay to the state teachers retirement system for credit to | 4030 |
the member's accumulated account an amount determined by the | 4031 |
member rate of contribution in effect at the time the military | 4032 |
service began multiplied by the member's annual compensation for | 4033 |
full-time employment during the first year of service in Ohio | 4034 |
following termination of military service. If, however, a limit on | 4035 |
maximum salary or maximum contribution was in effect at the time | 4036 |
the military service began, the limit shall be applied to the | 4037 |
salary received during the first year of service in Ohio to | 4038 |
calculate the amount of payment. To this amount shall be added an | 4039 |
amount equal to compound interest at a rate established by the | 4040 |
state teachers retirement board from the date active military | 4041 |
service terminated to date of payment. | 4042 |
(2) For each year of service purchased under division (A)(1) | 4043 |
or (B) of this section for military service that commenced on or | 4044 |
after July 1, 1989, and, without regard to when the military | 4045 |
service commenced, for each year of service purchased under | 4046 |
division (A) or (B) of this section by a member who first | 4047 |
established membership in the retirement system on or after July | 4048 |
1, 1989, the member shall pay to the retirement system for credit | 4049 |
to the member's individual account an amount specified by the | 4050 |
state teachers retirement board that shall be not less than fifty | 4051 |
per cent of the additional liability resulting from the purchase | 4052 |
of that year of service as determined by an actuary employed by | 4053 |
the board. | 4054 |
(3) For each year or portion of a year of service in the | 4055 |
reserves or Ohio national guard purchased under division (A)(2) of | 4056 |
this section, the member shall pay to the retirement system for | 4057 |
credit to the member's individual account an amount equal to one | 4058 |
hundred per cent of the additional liability resulting from the | 4059 |
purchase of that year of service as determined by an actuary | 4060 |
employed by the board. The retirement system shall calculate the | 4061 |
number of years or portions of a year of credit the member is | 4062 |
eligible to purchase under division (A)(2) of this section by | 4063 |
dividing the number of days actually served by three hundred | 4064 |
sixty-five. | 4065 |
(F)(E) Credit purchased underdescribed in this section may | 4084 |
be combined pursuant to section 3307.57 of the Revised Code with | 4085 |
credit for military service purchased under sections 145.301 and, | 4086 |
742.52, 3309.021, and 5505.25 of the Revised Code or military | 4087 |
service credit purchased in the Cincinnati retirement system, | 4088 |
except that not more than a total of five years of credit | 4089 |
purchased underdescribed in division (A) of this section, | 4090 |
division (B) of section 145.301, anddivision (A) of section | 4091 |
742.52, division (A) of section 3309.021, and division (A) of | 4092 |
section 5505.25 of the Revised Code and not more than a total of | 4093 |
five years of credit
purchased underdescribed in division (B) of | 4094 |
this section, division (C) of section 145.301,
anddivision (B) of | 4095 |
section 742.52, division (B) of section 3309.021 and division (B) | 4096 |
of section 5505.25 of the Revised Code or military service credit | 4097 |
purchased in the Cincinnati retirement system shall be used in | 4098 |
determining retirement eligibility or calculating benefits under | 4099 |
section 3307.57 of the Revised Code. | 4100 |
(1) "Service in the uniformed services" means the performance | 4102 |
of duty on a voluntary or involuntary basis in a uniformed service | 4103 |
under competent authority and includes active duty, active duty | 4104 |
for training, initial active duty for training, inactive duty | 4105 |
training, full-time national guard duty, and a period for which a | 4106 |
person is absent from a position of employment for the purpose of | 4107 |
an examination to determine the fitness of the person to perform | 4108 |
any such duty. | 4109 |
(2) "Uniformed services" means the army, navy, air force, | 4110 |
marine corps, coast guard, or any reserve components of such | 4111 |
services; national guard; the commissioned corps of the United | 4112 |
States public health service; service as a red cross nurse with | 4113 |
the army, navy, air force, or hospital service of the United | 4114 |
States, army nurse corps, navy nurse corps, or serving full-time | 4115 |
with the American red cross in a combat zone; and any other | 4116 |
category of persons designated by the president in time of war or | 4117 |
emergency. | 4118 |
(B) On the re-employment of a member participating in the | 4119 |
STRS defined benefit plan described in sections 3307.50 to 3307.79 | 4120 |
of the Revised Code as a teacher by the same public employer that | 4121 |
employed the member prior to the member's service in the uniformed | 4122 |
services, the member may apply to the state teachers retirement | 4123 |
system on a form provided by the system to purchase service credit | 4124 |
for service in the uniformed services that shall be considered the | 4125 |
equivalent of Ohio service credit. On receipt of the application, | 4126 |
the system shall request from the employer that employed the | 4127 |
member as a teacher prior to the military service a certification | 4128 |
that the member was employed by the employer prior to, and | 4129 |
returned to employment with the employer within three months of | 4130 |
honorable discharge or release from, service in the uniformed | 4131 |
services. If the employer can so certify, it shall do so and shall | 4132 |
pay to the system the employer's contribution required by this | 4133 |
section. The service credit shall be granted the member if all of | 4134 |
the following requirements are met: | 4135 |
If a member pays all or any portion of the contributions | 4158 |
required by section 3307.26 of the Revised Code later than the | 4159 |
lesser of five years or a period that is three times the member's | 4160 |
period of service in the uniformed services beginning from the | 4161 |
later of the member's date of re-employment as a teacher or | 4162 |
October 29, 1996, an amount equal to compound interest at a rate | 4163 |
established by the board from the later of the member's date of | 4164 |
re-employment as a teacher or October 29, 1996, to the date of | 4165 |
payment shall be added to the remaining amount to be paid by the | 4166 |
member to purchase service credit under this section. | 4167 |
Sec. 3307.76. (A) A member of the state teachers retirement | 4185 |
system participating in the STRS defined benefit plan described in | 4186 |
sections 3307.50 to 3307.79 of the Revised Code shall, in | 4187 |
computing years of total service, be given full credit for time | 4188 |
served in the public employees retirement system under Chapter | 4189 |
145. of the Revised Code or in the school employees retirement | 4190 |
system under Chapter 3309. of the Revised Code, provided that the | 4191 |
member pays to the state teachers retirement system the amount | 4192 |
specified in division (B) of this section. | 4193 |
(B) A member of the state teachers retirement system | 4218 |
participating in the STRS defined benefit plan
described in | 4219 |
sections 3307.50 to 3307.79 of the Revised Code who has | 4220 |
contributions on deposit with a uniform retirement system shall, | 4221 |
in computing years of total service, be given full credit for | 4222 |
service credit earned under Chapter 742. or 5505. of the Revised | 4223 |
Code or for military service credit if a transfer to the state | 4224 |
teachers retirement system is made under this division. At the | 4225 |
request of the member, the uniform system shall transfer to the | 4226 |
state teachers retirement system, for each year of service, the | 4227 |
sum of the following: | 4228 |
(C) A member participating in the STRS defined benefit plan | 4243 |
described in sections 3307.50 to 3307.79 of the Revised Code who | 4244 |
has at least one and one-half years of contributing service with | 4245 |
the state teachers retirement system, is a former member of a | 4246 |
uniform retirement system, and has received a refund of | 4247 |
contributions to that uniform system shall, in computing years of | 4248 |
total service, be given full credit for service credit earned | 4249 |
under Chapter 742. or 5505. of the Revised Code or for military | 4250 |
service credit if, for each year of service, the state teachers | 4251 |
retirement system receives the sum of the following: | 4252 |
(3) An amount, which shall be transferred by the uniform | 4264 |
system, equal to the lesser of the employer's contributions to the | 4265 |
uniform system or the amount that would have been contributed by | 4266 |
the employer for the service had the member been a member of the | 4267 |
state teachers retirement system at the time the credit was | 4268 |
earned, with interest on that amount from the last day of the year | 4269 |
for which the service credit was earned or in which payment was | 4270 |
made for military service to the date of the transfer. | 4271 |
(B) A member of the state teachers retirement system | 4318 |
participating in the STRS defined benefit plan described in | 4319 |
sections 3307.50 to 3307.79 of the Revised Code who has | 4320 |
contributions on deposit with, but is no longer contributing to, | 4321 |
the Cincinnati retirement system shall, in computing years of | 4322 |
service credit, be given credit for service credit earned under | 4323 |
the Cincinnati retirement system or purchased or obtained as | 4324 |
military service credit if, for each year of service, the | 4325 |
Cincinnati retirement system transfers to the state teachers | 4326 |
retirement system the sum of the following: | 4327 |
(C) A member of the state teachers retirement system with at | 4340 |
least one and one-half years of contributing service credit with | 4341 |
the state teachers retirement system who has received a refund of | 4342 |
the member's contributions to the Cincinnati retirement system | 4343 |
shall, in computing years of service, be given credit for service | 4344 |
credit earned under the Cincinnati retirement system or purchased | 4345 |
or obtained as military service credit if, for each year of | 4346 |
service, the state teachers retirement system receives the sum of | 4347 |
the following: | 4348 |
Sec. 3307.764. (A) If the conditions described in division | 4406 |
(B) of section 3307.762 of the Revised Code are met and a person | 4407 |
who is a member or former member of the state teachers retirement | 4408 |
system through participation in the STRS defined benefit plan | 4409 |
described in sections 3307.50 to 3307.79 of the Revised Code, but | 4410 |
is not a current contributor and who is not receiving a pension or | 4411 |
benefit from the state teachers retirement system elects to | 4412 |
receive credit under the Cincinnati retirement system for service | 4413 |
for which the person contributed to the state teachers retirement | 4414 |
system or purchased or obtained as military service credit, the | 4415 |
state teachers retirement system shall transfer the amounts | 4416 |
specified in division (B) or (C) of this section to the Cincinnati | 4417 |
retirement system. | 4418 |
(B) Any member of the state teachers retirement system | 4481 |
participating in the STRS defined benefit plan described in | 4482 |
sections 3307.50 to 3307.79 of the Revised Codeor the STRS | 4483 |
combined plan who is, or has been, prevented from making | 4484 |
contributions under section 3307.26 of the Revised Code because of | 4485 |
an absence due to the member's own illness or injury, or who is, | 4486 |
or has been, granted a leave for educational, professional, or | 4487 |
other purposes pursuant to section 3319.13, 3319.131, or 3345.28 | 4488 |
of the Revised Code or for any other reason approved by the state | 4489 |
teachers retirement board, may purchase service credit, not to | 4490 |
exceed two years for each such period of absence or leave, either | 4491 |
by having deductions made in accordance with division (C) of this | 4492 |
section or by making the payment required by division (D) or (E) | 4493 |
of this section. | 4494 |
(C) If the absence or leave begins and ends in the same year, | 4495 |
the member may purchase credit for the absence or leave by having | 4496 |
the employer deduct and transmit to the system from payrolls in | 4497 |
that year employee contributions on the amount certified by the | 4498 |
employer as the compensation the member would have received had | 4499 |
the member remained employed in the position held when the absence | 4500 |
or leave commenced. The deductions may be made even though the | 4501 |
minimum compensation provided by law for the member is reduced | 4502 |
thereby, unless the amount to be deducted exceeds the compensation | 4503 |
to be paid the member from the time deductions begin until the end | 4504 |
of the year, in which case credit may not be purchased under this | 4505 |
division. The employer shall pay the system the employer | 4506 |
contributions on the compensation amount certified under this | 4507 |
division. Employee and employer contributions shall be made at the | 4508 |
rates in effect at the time the absence or leave occurred. If the | 4509 |
employee or employer rates in effect change during the absence or | 4510 |
leave, the contributions for each month of the absence or leave | 4511 |
shall be made at the rate in effect for that month. | 4512 |
(D) During or following the absence or leave, but no later | 4513 |
than two years following the last day of the year in which the | 4514 |
absence or leave terminates, a member may purchase credit for the | 4515 |
absence or leave by paying to the employer, and the employer | 4516 |
transmitting to the system, employee contributions on the amount | 4517 |
certified by the employer as the compensation the member would | 4518 |
have received had the member remained employed in the position | 4519 |
held when the absence or leave commenced. The employer shall pay | 4520 |
the system the employer contributions on the compensation amount | 4521 |
certified under this division. Employee and employer contributions | 4522 |
shall be made at the rates in effect at the time the absence or | 4523 |
leave occurred. If the employee or employer rates in effect change | 4524 |
during the absence or leave, the contributions for each month of | 4525 |
an absence or leave shall be made at the rate in effect for that | 4526 |
month. | 4527 |
The employer shall pay to the system for each year of credit | 4553 |
purchased under this division an amount determined by multiplying | 4554 |
the employer contribution rate in effect at the time the absence | 4555 |
or leave commenced by the member's annual compensation for the | 4556 |
member's last full year of service prior to the commencement of | 4557 |
the absence or leave, or, if the member has not had a full year of | 4558 |
service, the compensation the member would have received for the | 4559 |
year the absence or leave commenced had the member continued in | 4560 |
service for a full year. | 4561 |
A member of the state teachers retirement system | 4573 |
participating in the STRS defined benefit plan
described in | 4574 |
sections 3307.50 to 3307.79 of the Revised Code who prior to July | 4575 |
1, 1982, was granted a leave of absence for pregnancy or resigned | 4576 |
due to pregnancy or adoption of a child may purchase service | 4577 |
credit under section 3307.70 of the Revised Code for a period for | 4578 |
which the member did not make contributions under section 3307.26 | 4579 |
of the Revised Code. ServiceThe service credit purchased under | 4580 |
this section shall not exceed the lesser of two years or the | 4581 |
period from the day the leave commenced or the effective date of | 4582 |
resignation to the date of the member's return to regular | 4583 |
employment as a contributor to the retirement system. A member may | 4584 |
purchase credit for more than one period of absence due to | 4585 |
pregnancy or adoption, but the total service credit and credit | 4586 |
purchased under this section, former section 3307.513, and former | 4587 |
section 3307.514 of the Revised Code shall not exceed two years. | 4588 |
The member shall submit evidence satisfactory to the retirement | 4589 |
board documenting that the leave or resignation was due to | 4590 |
pregnancy or adoption of a child. | 4591 |
For each year of service credit purchased under this section, | 4592 |
the member shall pay to the system for credit to the member's | 4593 |
accumulated account an amount determined by multiplying the | 4594 |
employee rate of contribution in effect at the time the leave or | 4595 |
absence commenced by the member's annual compensation for | 4596 |
full-time employment during the first year of service in Ohio | 4597 |
following termination of the absence or leave and adding to that | 4598 |
amount interest compounded annually, at a rate established by the | 4599 |
board, from the date the absence or leave terminated to the date | 4600 |
of payment. | 4601 |
A member may purchase all or part of the credit for which the | 4602 |
member is eligible in one or more payments. A member who purchases | 4603 |
service credit for an absence or leave underdescribed in this | 4604 |
section may not purchase credit for that absence or leave under | 4605 |
section 3307.77 of the Revised Code. A member who has purchased | 4606 |
service credit for an absence or leave under former section | 4607 |
3307.513 or 3307.514 or section 3307.77 of the Revised Code may | 4608 |
not purchase credit underdescribed in this section for the same | 4609 |
period of absence or leave. | 4610 |
(B) A member of the state teachers retirement system | 4618 |
participating in the STRS defined benefit plan described in | 4619 |
sections 3307.50 to 3307.79 of the Revised Code who does both of | 4620 |
the following may purchase credit under section 3307.70 of the | 4621 |
Revised Code for service as a school board or governing board | 4622 |
member, other than service subject to the tax on wages imposed by | 4623 |
the "Federal Insurance Contributions Act," 68A Stat. 415 (1954), | 4624 |
26 U.S.C.A. 3101, as amended, if the member is eligible to retire | 4625 |
under this chapter or will become eligible to retire as a result | 4626 |
of purchasing the credit: | 4627 |
(C) On receipt of a request from a member eligible to | 4643 |
purchase credit underdescribed in this section, the system shall | 4644 |
obtain from its actuary certification of the additional liability | 4645 |
to the system for each quarter year of credit the member is | 4646 |
eligible to purchase and shall notify the member of such | 4647 |
additional liability. Within ninety days after receiving notice of | 4648 |
the additional liability, the member may purchase in quarter-year | 4649 |
increments any portion of the credit the member is eligible to | 4650 |
purchase. For each quarter year of credit purchased, the member | 4651 |
shall pay to the system an amount equal to the additional | 4652 |
liability resulting from the purchase. Payment shall be made in | 4653 |
full at the time of purchase. | 4654 |
Sec. 3307.79. (A) A member whose death occurred prior to | 4665 |
July 1, 1973, who at the time of death had more than thirty-four | 4666 |
but less than thirty-five years of service credit shall be | 4667 |
presumed to have completed thirty-five years of such credit. Any | 4668 |
member whose death occurred on or after July 1, 1973, but prior to | 4669 |
August 20, 1976, and who at the time of death had more than | 4670 |
thirty-one but less than thirty-two years of service credit shall | 4671 |
be presumed to have completed thirty-two years of such credit. Any | 4672 |
member participating in the STRS defined benefit plan described in | 4673 |
sections 3307.50 to 3307.79 of the Revised Code whose death occurs | 4674 |
on or after August 20, 1976, but prior to July 1, 2015, and who at | 4675 |
the time of death has more than twenty-nine but less than thirty | 4676 |
years of service credit shall be presumed to have completed thirty | 4677 |
years of such credit. | 4678 |
(B) On the death of a member who is participating in the STRS | 4679 |
defined benefit plan
described in sections 3307.50 to 3307.79 of | 4680 |
the Revised Code prior to service retirement, the surviving spouse | 4681 |
or dependents of the deceased member shall have the right to | 4682 |
purchaseobtain any service credit the member, had the member not | 4683 |
died, would have been eligible to purchaseobtain pursuant to | 4684 |
sections 3307.71, 3307.72, 3307.73, 3307.74, 3307.741, 3307.751, | 4685 |
3307.752, 3307.76, 3307.761,and 3307.763, 3307.77, and 3307.771 | 4686 |
of the Revised Code upon the same terms and conditions which the | 4687 |
deceased member could have
purchasedobtained such service credit | 4688 |
had the deceased member not died. Any service credit purchased | 4689 |
obtained under this section shall be applied under the provisions | 4690 |
of this chapter in the same manner as it would have been applied | 4691 |
had it been purchasedobtained by the deceased member during the | 4692 |
deceased member's lifetime. | 4693 |
Sec. 3307.812. In establishing aan STRS defined | 4721 |
contribution plan under section 3307.81 of the Revised Code, the | 4722 |
state teachers retirement board may do all things necessary to | 4723 |
avoid the system being required to pay federal or state income | 4724 |
taxes on contributions to the plan or amounts earned under the | 4725 |
plan and, to the extent permitted under federal or state law, to | 4726 |
allow members participating in the plan to make tax deferred | 4727 |
contributions for periods of interrupted or prior service. | 4728 |
Sec. 3307.84. For each member participating in aan STRS | 4735 |
defined contribution plan
established under section 3307.81 of the | 4736 |
Revised Code, the state teachers retirement system shallmay | 4737 |
transfer to the employers' trust fund a portion of the employer | 4738 |
contribution required under section 3307.28 of the Revised Code | 4739 |
that is equal to. If the state teachers retirement board elects to | 4740 |
make a transfer under this section, the portion transferred shall | 4741 |
not exceed the percentage of compensation of members described in | 4742 |
this section for whom the contributions are being made that is | 4743 |
determined by the board's actuary to be necessary to mitigate any | 4744 |
negative financial impact on the state teachers retirement system | 4745 |
of the participation of members in
aan STRS defined contribution | 4746 |
plan established under section 3307.81 of the Revised Code. The | 4747 |
remainder shall be credited as provided in section 3307.28 of the | 4748 |
Revised Code. | 4749 |
The state teachers retirement board shallmay have prepared | 4750 |
annually, at intervals determined by the board, an actuarial study | 4751 |
to determine whether the percentage transferreda transfer under | 4752 |
this section should be changedis necessary to reflect a change in | 4753 |
the level of the negative financial impact resulting from | 4754 |
participation of members in aan STRS defined contribution plan | 4755 |
established under section 3307.81 of the Revised Code. The board | 4756 |
shall increase or decrease the percentage transferred, if any, | 4757 |
under this section to reflect the amount needed to mitigate the | 4758 |
negative financial impact, if any, on the system based on the | 4759 |
actuarial study. An increase or decrease in the percentage | 4760 |
transferred shall take effect on the first day of the month | 4761 |
following the date the conclusions of the actuarial study are | 4762 |
reported toa date determined by the board. | 4763 |
TheIf a transfer under this section is made, the system | 4764 |
shall make the transfer required under this section until the | 4765 |
unfunded actuarial accrued liability for all benefits, except | 4766 |
health care benefits provided under section 3307.39 or 3307.61 of | 4767 |
the Revised Code and benefit increases provided to members and | 4768 |
former members participating in the STRS defined benefit plan | 4769 |
described in sections 3307.50 to 3307.79 of the Revised Code after | 4770 |
July 13, 2000, is fully amortized, as determined by the annual | 4771 |
actuarial valuation prepared under section 3307.51 of the Revised | 4772 |
Code. | 4773 |
Sec. 3307.86. The state teachers retirement system may | 4774 |
require members participating in aan STRS defined contribution | 4775 |
plan established under section 3307.81 of the Revised Code and | 4776 |
their employers to furnish the contributions and information | 4777 |
required under this chapter at more frequent intervals than those | 4778 |
required for members participating in the STRS defined benefit | 4779 |
plan described in sections 3307.50 to 3307.79 of the Revised Code. | 4780 |
The system has no duty to accept contributions by or on behalf of | 4781 |
a member if a contribution or information is not furnished at such | 4782 |
intervals. | 4783 |
(C) Consent is valid only if it is evidenced by a signed | 4804 |
statement that is witnessed by a notary public. Each plan may | 4805 |
waive the requirement of consent if the spouse is incapacitated or | 4806 |
cannot be located or for any other reason specified by the plan or | 4807 |
in rules adopted by the state teachers retirement board. A plan | 4808 |
shall waive the requirement of consent if a plan of payment that | 4809 |
provides for payment in a specified amount continuing after the | 4810 |
member's death to a former spouse is required by a court order | 4811 |
issued prior to the effective date of the member's retirement | 4812 |
under section 3105.171 or 3105.65 of the Revised Code or laws of | 4813 |
another state regarding division of marital property. | 4814 |
Sec. 3307.98. The increasing contribution determined as | 4826 |
provided in sections 3307.96 and 3307.97 of the Revised Code by | 4827 |
the actuary shall be paid by the employer. In the event of merger, | 4828 |
the moneys and securities to the credit of the local district | 4829 |
pension system, not exceeding an aggregate amount equal to the | 4830 |
present value of the payments to be made on account of all | 4831 |
pensions to the pensioners on the rolls of the local district | 4832 |
pension system, shall be transferred to the employers' | 4833 |
accumulation fund and the pensions then payable by the local | 4834 |
district pension system shall thereafter be paid from the | 4835 |
employers' accumulation fund until the reserves on these pensions | 4836 |
with the other pensions payable from the employers' accumulation | 4837 |
fund have been accumulated and shall be transferred to the annuity | 4838 |
and pension reserve fund, from which fund they shall thereafter be | 4839 |
payable. The pensions of the active members of the local district | 4840 |
pension system and of the new entrants shall thereafter be payable | 4841 |
as are the pensions of other members of the state teachers | 4842 |
retirement system. The amount of the excess of the moneys and | 4843 |
securities of the local district pension system over and above the | 4844 |
present value of the payments to be made on account of all | 4845 |
pensions to the pensioners of the rolls of the local district | 4846 |
pension system shall be transferred to the teachers' savings fund | 4847 |
and shall be credited pro rata to the active teachers of such | 4848 |
local district pension system on the basis of the amounts of their | 4849 |
previous contributions to the local district pension system. In | 4850 |
case such method of distribution is not found practicable by the | 4851 |
state teachers retirement board, the board may use such other | 4852 |
method of apportionment as seems fair and equitable to such board. | 4853 |
The amount so credited in any case shall be considered as a part | 4854 |
of the teacher's accumulated contributions, as defined in section | 4855 |
3307.50 of the Revised Code, for all purposes except in the case | 4856 |
of retirement under the STRS defined benefit plan described in | 4857 |
sections 3307.50 to 3307.79 of the Revised Code in which it shall | 4858 |
be considered as an amount in excess of the teacher's accumulated | 4859 |
contributions and shall be used in purchasing from the annuity and | 4860 |
pension reserve fund an annuity, in addition to any other annuity | 4861 |
or pension benefit otherwise provided by this chapter. | 4862 |
(A) The superintendent of public instruction shall establish | 4872 |
a pilot project scholarship program and shall include in such | 4873 |
program any school districts that are or have ever been under | 4874 |
federal court order requiring supervision and operational | 4875 |
management of the district by the state superintendent. The | 4876 |
program shall provide for a number of students residing in any | 4877 |
such district to receive scholarships to attend alternative | 4878 |
schools, and for an equal number of students to receive tutorial | 4879 |
assistance grants while attending public school in any such | 4880 |
district. | 4881 |
(2) If the general assembly discontinues the scholarship | 4901 |
program, all students who are attending an alternative school | 4902 |
under the pilot project shall be entitled to continued admittance | 4903 |
to that specific school through all grades that are provided in | 4904 |
such school, under the same conditions as when they were | 4905 |
participating in the pilot project. The state superintendent shall | 4906 |
continue to make scholarship payments in accordance with division | 4907 |
(A) or (B) of section 3313.979 of the Revised Code for students | 4908 |
who remain enrolled in an alternative school under this provision | 4909 |
in any year that funds have been appropriated for this purpose. | 4910 |
(D) Notwithstanding sections 124.39, 3307.54, and 3319.17 of | 4919 |
the Revised Code, if the pilot project school district experiences | 4920 |
a decrease in enrollment due to participation in a state-sponsored | 4921 |
scholarship program pursuant to sections 3313.974 to 3313.979 of | 4922 |
the Revised Code, the district board of education may enter into | 4923 |
an agreement with any teacher it employs to provide to that | 4924 |
teacher severance pay or early retirement incentives, or both, if | 4925 |
the teacher agrees to terminate the employment contract with the | 4926 |
district board, provided any collective bargaining agreement in | 4927 |
force pursuant to Chapter 4117. of the Revised Code does not | 4928 |
prohibit such an agreement for termination of a teacher's | 4929 |
employment contract. | 4930 |
Section 2. That existing sections 3305.06, 3307.01, 3307.031, | 4931 |
3307.04, 3307.044, 3307.061, 3307.14, 3307.142, 3307.20, 3307.214, | 4932 |
3307.25, 3307.251, 3307.252, 3307.26, 3307.28, 3307.33, 3307.35, | 4933 |
3307.351, 3307.352, 3307.371, 3307.39, 3307.391, 3307.42, 3307.46, | 4934 |
3307.47, 3307.50, 3307.501, 3307.51, 3307.512, 3307.52, 3307.53, | 4935 |
3307.56, 3307.561, 3307.562, 3307.563, 3307.57, 3307.58, 3307.59, | 4936 |
3307.60, 3307.62, 3307.63, 3307.631, 3307.64, 3307.66, 3307.661, | 4937 |
3307.67, 3307.671, 3307.694, 3307.71, 3307.711, 3307.712, 3307.72, | 4938 |
3307.73, 3307.74, 3307.75, 3307.751, 3307.752, 3307.76, 3307.761, | 4939 |
3307.763, 3307.764, 3307.77, 3307.771, 3307.78, 3307.79, 3307.80, | 4940 |
3307.81, 3307.811, 3307.812, 3307.83, 3307.84, 3307.86, 3307.87, | 4941 |
3307.89, 3307.98, and 3313.975 and sections 3307.54, 3307.61, | 4942 |
3307.741,
3307.88, 3307.881, and 3307.882 of the Revised Code are | 4943 |
hereby repealed. | 4944 |
The General Assembly finds that certain changes to the STRS | 4973 |
defined benefit plan, including changes to member contribution | 4974 |
rates, retirement eligibility, benefit formulas, the number of | 4975 |
years used to calculate final average salary, and future | 4976 |
cost-of-living adjustments, are reasonable and necessary to | 4977 |
further these legitimate and important state interests. The | 4978 |
General Assembly bases this finding on all of the following: | 4979 |