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As Passed by the House
123rd General Assembly
Regular Session
1999-2000 | Sub. H. B. No. 186 |
REPRESENTATIVES JOLIVETTE-COUGHLIN-GRENDELL-PRINGLE-
TERWILLEGER-OGG-VESPER-WILLAMOWSKI-OLMAN-BARNES-DePIERO-
HOLLISTER-TIBERI-MOTTLEY-KRUPINSKI-SULLIVAN-D.MILLER-
HARTNETT-JONES-FORD-CORBIN-O'BRIEN-LOGAN-ALLEN-VERICH-DISTEL-
ROMAN-GARNDER-HAINES-METZGER-PERZ-YOUNG
A BILL
To amend section 145.301 of the Revised Code to change the method of computing
the cost of purchasing military service credit for eligible members of the
Public Employees Retirement System.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That section 145.301 of the Revised Code be amended to read as
follows:
Sec. 145.301. (A)
A member may purchase service credit
that shall be considered as the equivalent of Ohio service for
each year of service incurred by reason of having been on active
duty as a member of the armed forces of the United States, as
defined in section 145.30 of the Revised Code. The credit may be
purchased at any time prior to receipt of a retirement allowance. The
number of years purchased shall not
exceed five. The member may choose to purchase only part of such
credit in any one payment, subject to PUBLIC EMPLOYEES RETIREMENT board
rules.
(B) For the purposes of this division, "prisoner of war"
means any regularly appointed, enrolled, enlisted, or inducted
member of the armed forces of the United States who was captured,
separated, and incarcerated by an enemy of the United States.
A member may purchase service credit that shall be
considered as the equivalent of Ohio service for each year of
service such member was a prisoner of war. The number of years
purchased under this division shall not exceed five. Service
credit may be purchased under this division for the same years of
service used to purchase service credit under division (A) of
this section. The member may choose to purchase only part of
such credit in any one payment, subject to board rules.
(C) The total number of years purchased under this section
shall not exceed the member's total accumulated number of years
of Ohio service.
(D) For each year of service purchased under division (A)
or (B) of this section, the member shall pay to the public
employees retirement system for credit to the member's
accumulated account
an amount determined by the member rate of contribution in effect
at the time the military service began, multiplied
by the member's salary, earnable salary, or compensation for
full-time employment during the first year of service covered by a state
retirement system or the Cincinnati retirement system
following termination of military service. If,
however, a limit on maximum salary or maximum contribution was in
effect at the time the military service began, the
limit shall be
applied to the salary, earnable salary, or compensation
received during the first year of
service covered by a state retirement system or the Cincinnati
retirement system to calculate the amount of payment. To this amount
shall be added an amount equal to compound interest at a
rate established by the public employees retirement board from
the date active military service terminated
to date of payment SPECIFIED BY THE RETIREMENT BOARD THAT SHALL BE NOT
LESS THAN FIFTY PER CENT OF THE ADDITIONAL LIABILITY RESULTING FROM THE
PURCHASE OF THAT YEAR OF SERVICE AS DETERMINED BY AN ACTUARY EMPLOYED BY THE
BOARD.
(E) A member is ineligible to purchase service credit
under this section for any year of military service that was:
(1) Used in the
calculation of any retirement benefit currently being paid to the
member or payable in the future under any other retirement
program, except social security, or for retired pay
for nonregular service under Chapter 1223 of Section 1662 of Title
XVI of the "National Defense
Authorization Act for Fiscal Year 1995," 108 Stat. 2998 (1994), 10
U.S.C.A. 12731 to 12739;
(2) Used to obtain service credit pursuant to section
145.30 or 145.302 of the Revised Code.
At the time the credit is
purchased, the member shall certify on a form furnished by the
retirement board that the member does and will conform to
this requirement.
(F)
A MEMBER WHO, ON THE EFFECTIVE
DATE OF THIS AMENDMENT, IS PURCHASING SERVICE CREDIT UNDER THIS SECTION
BY MAKING INSTALLMENT PAYMENTS TO THE SYSTEM OR BY A PAYROLL
DEDUCTION PLAN AUTHORIZED UNDER SECTION 145.294 OF THE REVISED
CODE MAY ELECT, ON A FORM PROVIDED BY THE BOARD, TO HAVE A PORTION OF THE COST OF THE SERVICE CREDIT RECALCULATED UNDER
DIVISION (D) OF THIS SECTION AS AMENDED BY THIS ACT. THE
RECALCULATION SHALL APPLY ONLY TO THE AMOUNT STILL OWED BY THE MEMBER AS OF THE DATE THE ELECTION
IS FILED WITH THE BOARD.
FOR EACH MEMBER WHO MAKES AN ELECTION, THE BOARD SHALL DO ALL OF
THE FOLLOWING:
(1) DETERMINE THE AMOUNT OF THE TOTAL COST OF THE SERVICE CREDIT
STILL OWED BY THE MEMBER AS OF THE DATE THE ELECTION IS FILED WITH THE
BOARD AND THE NUMBER OF YEARS OR PORTION OF A YEAR OF SERVICE CREDIT
ATTRIBUTABLE TO THAT AMOUNT;
(2) RECALCULATE UNDER DIVISION (D) OF THIS SECTION THE COST OF
THE SERVICE CREDIT DESCRIBED IN DIVISION (F)(1) OF THIS SECTION;
(3) NOTIFY THE MEMBER OF THE RECALCULATED AMOUNT.
IF THE RECALCULATED AMOUNT IS LESS THAN THE AMOUNT STILL OWED BY
THE MEMBER AS OF THE DATE THE ELECTION IS FILED, THE RECALCULATED AMOUNT
SHALL BE THE AMOUNT OWED BY THE MEMBER.
(G)
Credit purchased under this section may be combined
pursuant to section 145.37 with credit for military service
purchased under sections 3307.021 and 3309.021, except that not
more than an aggregate total of five years of credit purchased
under division (A) of this section, division (A) of section
3307.021, and division (A) of section 3309.021, and not more than
an aggregate total of five years of credit purchased under
division (B) of this section, division (B) of section 3307.021,
and division (B) of section 3309.021 shall be used in determining
retirement eligibility or calculating benefits under section
145.37 of the Revised Code.
Section 2. That existing section 145.301 of the Revised Code is hereby
repealed.
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