Ohio Admin. Code 3307:2-4-02 - Military service
(A) A
participant in the defined contribution plan or the combined plan may make
contributions for periods when Ohio teaching service was interrupted by
military service under the same terms and conditions as specified for
participants in the defined benefit plan by section
3307.752 of the Revised Code.
The interest rate used to calculate the cost of any such purchase shall be at
the same rate established pursuant to rule
3307:1-3-01 of the
Administrative Code for purchases of military service under section
3307.752 of the Revised
Code.
(B) The retirement board
shall specify the portion of contributions that would have been paid by the
participant pursuant to section
3307.26 of the Revised Code, and
interest thereon as directed by section
3307.752 of the Revised Code, to
be credited as specified by the plan document to
the participant's account in the defined contribution fund created by division
(G) of section 3307.14 of the Revised Code. The
remaining contributions that would have been paid by the participant
for Ohio teaching service interrupted by military
service
, if applicable, and all employer
contributions that would have been paid by the employer pursuant to section
3307.28 of the Revised Code for
the participant's period of interrupted military service shall be applied
to provide retirement, disability, and survivor
benefits under the terms, conditions, and schedules
as specified by the plan document. A portion of the
employer contributions may be allocated to the health care fund under the
terms, conditions and schedules specified by the retirement board.
(C) No refund will be made of amounts paid by
a participant to purchase credit as herein provided, except as a part of a
total withdrawal of funds.
(D) A
participant in the combined plan may make contributions for periods of service
as outlined in paragraph (A) of this rule up to three months after the earlier
of either:
(1) The annuity starting date for
the participant's defined benefit portion of the combined plan; or
(2) The annuity starting date for the
participant's defined contribution portion of the combined plan.
Notes
Promulgated Under: 111.15
Statutory Authority: 3307.80
Rule Amplifies: 3307.81
Prior Effective Dates: 07/01/2001 (Emer.), 09/17/2001, 07/16/2004, 07/01/2013 (Emer.), 09/09/2013, 06/07/2019, 07/01/2021
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