Ohio Admin. Code 3309-1-33 - Retirement and benefit effective dates

(A) For purposes of this rule, "retirement allowance" refers to a monthly retirement allowance, including an "estimated retirement allowance" as defined in paragraph (A) of rule 3309-1-21 of the Administrative Code, as well as a lump sum payment made under a plan described in division (B)(4) of section 3309.46 of the Revised Code.

(B)

(1)

(a) The effective date of a service retirement under sections 3309.34, 3309.35, 3309.36, and 3309.46 of the Revised Code shall be as follows:

The first of the month following the last date of compensated service, the first of the month following the date that age and service credit eligibility is met, the first of the month after all purchases of service credit are completed, or at the date requested by the applicant in writing at retirement, whichever is later.

(b) The effective date of a service retirement under section 3309.343 of the Revised Code shall be as follows:

The first of the month following the last date of compensated service for the position from which the member is retiring, the first of the month following the date that age and service credit eligibility is met, the first of the month after all purchases of service credit are completed, or at the date requested by the applicant in writing at retirement, whichever is later.

(c) Notwithstanding any other provision of this rule to the contrary, the effective date of a service retirement under this rule of a member who is an other system retirant as defined in division (A)(2) of section 3309.341 of the Revised Code shall not be sooner than the effective date of retirement in the other system.

(2) The effective date of reemployment, conversion retirement, disability, and survivor benefits shall be the date as provided by section 3309.344, 3309.381, 3309.39, 3309.40, 3309.401, or 3309.45 of the Revised Code.

(C) A member, a beneficiary eligible for benefits pursuant to section 3309.45 of the Revised Code, or a SERS retirant or other system retirant as defined in section 3309.341 of the Revised Code, may withdraw an application for a retirement allowance, survivor benefit or annuity to which the member, beneficiary, SERS or other system retirant is entitled by delivering to the retirement system a signed written request over the applicant's signature and as follows:

(1) If the payment was made by check, by returning to the retirement system the warrant uncashed no later than thirty days after issuance of the check.

(2) If the payment was transmitted by direct deposit to the member, beneficiary, or retirant's financial institution(s), by remitting to the retirement system a personal check or money order repaying all payments transmitted no later than thirty days after the institution's receipt of the payment.

(3) If any portion of a payment was delivered as a direct rollover pursuant to rule 3309-1-53 of the Administrative Code, the retirement plan that received the distribution must return to the retirement system the amount transferred not later than sixty days after the transfer.

(4) If any portion of a payment was paid to satisfy a court order or was otherwise deducted as required by law, the application may not be withdrawn as provided in this rule.

(1) If a retirement allowance, survivor benefit or annuity payment has not been sent, by sending a signed written request over the applicant's signature to the school employees retirement system prior to the date the first payment is sent or transmitted.

(2) If a retirement allowance, survivor benefit or annuity payment has been sent, then by:

(a) Returning to the retirement system all warrants sent, uncashed, with a signed written request over the applicant's signature to withdraw the application and, if applicable, a personal check or money order for any amounts deducted from the payment and disbursed by the retirement system as authorized by law; and/or

(b) Remitting to the retirement system a personal check or money order repaying all payments transmitted by the retirement system to the applicant's financial institution no later than thirty days after the institution's receipt of the first payment with a signed written request over the applicant's signature to withdraw the application, and, if applicable, a personal check or money order for any amounts deducted from the payment and disbursed by the retirement system as authorized by law.

(3) If deductions equal the amount of the payment and no warrant was sent or payment was transmitted, by sending a written request over the applicant's signature to the retirement system to withdraw the application no later than thirty days after receipt of the first payment stub, and, if applicable, a personal check or money order for any amounts deducted from the payment and disbursed by the retirement system as authorized by law.

(D) A beneficiary who requested his or her benefit payment to be distributed as a direct rollover pursuant to rule 3309-1-53 of the Administrative Code may withdraw the application for payment by delivering to the retirement system a signed written request over the applicant's signature to withdraw the application, and if the retirement plan that received the distribution returns to the retirement system the full amount transferred not later than sixty days after the transfer.

(E) (D) The retirement laws in effect on the benefit effective dates shall determine the amount and eligibility for a retirement allowance, survivor benefit, or annuity.

(F) (E) The annuity and option tables as adopted by the board and in effect shall be used to determine reserve liability and retirement allowance, survivor benefit payments and annuity.

Notes

Ohio Admin. Code 3309-1-33

Five Year Review (FYR) Dates: 2/1/2024 and 02/01/2029
Promulgated Under: 111.15
Statutory Authority: 3309.04
Rule Amplifies: 3309.34, 3309.343, 3309.344, 3309.35, 3309.36, 3309.381, 3309.39, 3309.40, 3309.401, 3309.45, 3309.46
Prior Effective Dates: 12/24/1976, 02/01/1992, 01/02/1993, 05/02/2001, 07/30/2001 (Emer.), 11/01/2001, 01/02/2003, 01/02/2004, 05/11/2006, 04/02/2010, 01/07/2013, 12/14/2013, 03/30/2015, 05/03/2019

Effective: 5/3/2019
Five Year Review (FYR) Dates: 2/1/2019 and 02/01/2024
Promulgated Under: 111.15
Statutory Authority: 3309.04
Rule Amplifies: 3309.34, 3309.343, 3309.344, 3309.35, 3309.36, 3309.381, 3309.39, 3309.40, 3309.401, 3309.45, 3309.46
Prior Effective Dates: 12/24/1976, 02/01/1992, 01/02/1993, 05/02/2001, 07/30/2001 (Emer.), 11/01/2001, 01/02/2003, 01/02/2004, 05/11/2006, 04/02/2010, 01/07/2013, 12/14/2013, 03/30/2015