Ohio Admin. Code 3307:2-5-08 - [Rescinded] Spousal consent
The following rule is adopted to implement section 3307.87 of the Revised Code:
(A) If a defined
contribution program participant who has terminated covered employment is
married and is at least age fifty at the time of application for withdrawal of
a balance of five thousand dollars or more, consent of the spouse shall be
required under the circumstances and subject to the exceptions specified by
section
3307.87
of the Revised Code.
(B) If a
defined contribution program participant is married at the time of the
application for a retirement benefit as specified by these rules and the terms
of the plan document, the consent of the spouse shall be required for the
member
participant to select any form of payment, benefit or
plan of payment that is not of a joint and survivor annuity with at least fifty
per cent continuing for the lifetime of the spouse upon the death of the
participant.
(C) The designation of
a beneficiary other than the spouse by a participant married at the time of
designation shall be subject to the consent of the spouse.
(D) The defined contribution portion of the
combined plan and the defined benefit portion of that plan shall be subject to
separate requirements of spousal consent.
(E) The foregoing requirements shall not
apply if a spouse cannot be located or for any other reason specified by rule 3307:1-5-02 or 3307:1-12-01 of the Administrative Code.
Notes
Promulgated Under: 111.15
Statutory Authority: 3307.80
Rule Amplifies: 3307.81, 3307.87
Prior Effective Dates: 07/01/2001 (Emer.), 09/17/2001, 09/17/2002, 06/18/2009, 06/12/2014
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