US Laws, Codes, Statutes & Cases

[§ 742.37.17] § 742.3717. Cost-of-living increase for certain retirees prior to 7-24-86.
 

(A) (1)  Except as provided in division (A)(2) of this section, as used in this section, "eligible person" means a person who meets both of the following conditions: 

(a) The person is receiving an annual pension or benefit under division (A), (B), or (C) of section 742.37 or division (C)(2), (3), (4), or (5) of former section 742.37 of the Revised Code based on an award made prior to July 24, 1986. 

(b) The person has not elected under section 742.3711 [742.37.11] of the Revised Code to receive a retirement allowance under an optional benefit plan. 

(2) A person is not an eligible person if the person is receiving a pension or benefit in accordance with rules in force on April 1, 1947, that govern the granting of pensions and benefits and that provide an increase in the original pension or benefit from time to time pursuant to changes in the salaries of active members. 

(B) (1)  The board of trustees of the Ohio police and fire pension fund shall annually increase all benefits payable to eligible persons by three hundred sixty dollars, except that no benefit shall exceed the limit established by section 415 of the "Internal Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C.A. 415, as amended. 

(2) The first increase is payable to all eligible persons on July 1, 1988. The increase is payable for the ensuing twelve-month period or until the next increase is granted under this section, whichever is later. 

The date of the first increase payable under this section shall be the anniversary date for future increases. 
 

HISTORY: 142 v H 389 (Eff 9-9-88); 143 v S 240 (Eff 7-1-90); 146 v H 365 (Eff 9-27-96); 147 v H 648 (Eff 9-16-98); 148 v H 222 (Eff 11-2-99); 148 v H 275 (Eff 3-17-2000); 149 v H 157. Eff 2-1-2002.