2006 Ohio Revised Code - 3309. Public School Employees Retirement System.

• 3309.01. Definitions.
• · · · [3309.01.1] 3309.011.Persons excluded from definition of "employee".
• · · · [3309.01.2] 3309.012.School or governing board member to elect whether to become member of system.

Military Service.

• 3309.02. Military service credit.
• · · · [3309.02.1] 3309.021.Purchase of military service credit.
• · · · [3309.02.2] 3309.022.Purchase of uniformed services credit.

Board.

• 3309.03. School employees retirement system established; rights of board; income tax avoidance.
• · · · [3309.03.1] 3309.031.Plans constituting system.
• 3309.04. Administration and management of system; rules.
• · · · [3309.04.1] 3309.041.Policies regarding travel and payment of travel expenses and bonuses; operating budget; plan for disseminating public information.
• · · · [3309.04.2] 3309.042.Ethics policy and training.
• · · · [3309.04.3] 3309.043.Chief investment officer.
• · · · [3309.04.4] 3309.044.Committee to oversee selection of internal auditor.
• 3309.05. Membership of board.
• · · · [3309.05.1] 3309.051.Orientation program for new members; continuing education.
• · · · [3309.05.2] 3309.052.Ineligibility of certain members for re-election or reappointment.
• 3309.06. Election of board members; vacancies.
• · · · [3309.06.1] 3309.061.Convictions resulting in loss of office; ineligibility for election; removal of board member.
• 3309.07. Rules for elections; eligibility for nomination and election.
• · · · [3309.07.1] 3309.071.Election unnecessary if only one candidate nominated.
• · · · [3309.07.2] 3309.072.Filing of campaign finance statement or independent expenditure statement.
• · · · [3309.07.3] 3309.073.Failure to file statement; prohibitions concerning elections.
• · · · [3309.07.4] 3309.074.Complaint alleging violation.
• · · · [3309.07.5] 3309.075.Rules concerning elections; contract for election services.
• 3309.08. Oath of office.
• 3309.09. Quorum; public access to meetings.
• 3309.10. Reimbursement of expenses of board members; liability insurance.
• 3309.11. Chairman; executive director.
• 3309.12. Treasurer of state shall be custodian of funds; bond required; deposit of funds.
• 3309.13. Legal adviser.
• 3309.14. Employees; payment of compensation and expenses; applications for retirement.

Funds; Bonds.

• 3309.15. Investment and fiduciary duties of board.
• · · · [3309.15.1-3309.15.4] 3309.151-3309.154  Repealed.
• · · · [3309.15.5] 3309.155.Dealings with former officers, employers prohibited.
• · · · [3309.15.6] 3309.156.Prohibited transactions; liability and bond of fiduciary.
• · · · [3309.15.7] 3309.157.Designation and use of Ohio-qualified agents; policy concerning agents executing securities transactions.
• · · · [3309.15.8] 3309.158.Disclosures to ethics commission concerning agents.
• · · · [3309.15.9] 3309.159.Ohio-qualified investment managers.
• 3309.16. Denomination or consolidation of bonds.
• 3309.17. Officers of taxing district required to comply; duty of secretary of sinking fund.
• 3309.18. Interest credited annually.
• 3309.19. Trustee or employee of board shall have no interest in profits nor borrow funds.

Accounts; Reports; Records.

• 3309.20. Individual accounts of contributor; mortality tables.
• 3309.21. Actuarial reports; analysis of proposed legislation; annual accounting.
• · · · [3309.21.1] 3309.211.Amortization of unfunded actuarial accrued pension liability.
• 3309.22. Access to records; match with public assistance recipients.

Membership.

• 3309.23. Contributors to retirement system.
• 3309.24. Members of local district pension system excluded from membership; membership by petition.
• 3309.25. Notice to new employee concerning election of plan.
• · · · [3309.25.1] 3309.251.Election of defined benefit or defined contribution plan.
• · · · [3309.25.2] 3309.252.Election of defined contribution plan by member with less than five years service credit.
• · · · [3309.25.3] 3309.253.Preclusive effect of electing defined contribution plan.
• 3309.26. Termination and restoration of membership; restoration of service credit.
• · · · [3309.26.1] 3309.261.Restoration of PERS or STRS service credit via payroll deduction plan.
• · · · [3309.26.2] 3309.262.Action on request from PERS or STRS concerning restoration of service credit.
• 3309.27. Payroll deduction plans for service credit and long-term health care benefits purchases.

Service Credit.

• 3309.28. Statement to be filed upon becoming employed.
• 3309.29. Verification of statement.
• 3309.30. Service credit.
• · · · [3309.30.1] 3309.301.Purchase of service credit for period of exemption.
• 3309.31. Purchase of service credit for prior school or public service.
• · · · [3309.31.1] 3309.311.Purchase of credit for service as school or governing board member.
• · · · [3309.31.2] 3309.312.Election by Akron University law enforcement officer to transfer to public employees retirement system.
• 3309.32. Prior service credit.

Retirement.

• 3309.33. Retirement incentive plan.
• 3309.34. Eligibility for service retirement.
• · · · [3309.34.1] 3309.341.Employment of SERS or other system retirant.
• · · · [3309.34.2] 3309.342.Waiver of penalties for certain employed retirants.
• · · · [3309.34.3] 3309.343.Retirement from one SERS position while continuing to make contributions for another SERS or other state system position.
• · · · [3309.34.4] 3309.344.SERS or other system retirant may apply for benefit or return of contributions.
• · · · [3309.34.5] 3309.345.Procedure for continuing employment of or rehiring certain retirants.
• 3309.35. Co-ordinating membership in state retirement systems; combining contributions and service credits.
• · · · [3309.35.1] 3309.351.Renumbered.
• · · · [3309.35.3] 3309.353.Benefits established prior to 2-1-83 to be increased.
• · · · [3309.35.4] 3309.354.Benefit increase where eligibility established prior to 9-9-88.
• 3309.36. Allowances upon service retirement.
• · · · [3309.36.1] 3309.361.Annual lifetime benefit.
• · · · [3309.36.2] 3309.362.Increase in annual amount of benefit.
• 3309.37. [Repealed]
• · · · [3309.37.1] 3309.371.Supplemental allowance.
• · · · [3309.37.2] 3309.372.Increase in benefits.
• · · · [3309.37.3] 3309.373.Additional allowance.
• · · · [3309.37.4] 3309.374.Effective until 10-27-06.
• · · · [3309.37.4] 3309.374.Effective 10-27-06.
• · · · [3309.37.5] 3309.375.Medicare equivalent benefits.
• · · · [3309.37.6] 3309.376.Additional monthly payment.
• · · · [3309.37.7] 3309.377.Additional monthly payment.
• · · · [3309.37.8] 3309.378.Additional monthly payment.
• · · · [3309.37.9] 3309.379.Benefit recalculated.
• · · · [3309.37.10] 3309.3710.Increase in monthly allowance, pension or benefit.
• · · · [3309.37.11] 3309.3711.Increase in benefit or allowance when § 415 limits increased.
• · · · [3309.37.12] 3309.3712.Qualified governmental excess benefit arrangement.
• 3309.38. Commuted service retirement allowance.
• · · · [3309.38.1] 3309.381.Disability allowance recipient may apply for service retirement.
• 3309.39. Disability coverage; election of coverage; application for benefit; duty to obtain treatment; restoration to active service.
• · · · [3309.39.1] 3309.391.Annual report on each employer's disability retirement experience.
• 3309.40. Disability retirement.
• · · · [3309.40.1] 3309.401.Disability allowance.
• 3309.41. Disability benefit recipient considered on leave of absence; medical examinations; termination; employment of recipient.

Ceasing to be Employee.

• 3309.42. Payment of accumulated contributions upon ceasing membership.
• 3309.43. Withdrawal of contributions by multi-system member.

Death of Contributor; Beneficiary.

• 3309.44. Payments to beneficiaries of members.
• 3309.45. Beneficiary may elect to substitute other benefits.
• · · · [3309.45.1] 3309.451.Service credit purchased after death of member.
• 3309.46. Effective until 10-27-06.
• 3309.46. Effective 10-27-06.

Contributions.

• 3309.47. Contributor contributions; payment to expense fund; additional payments.
• · · · [3309.47.1] 3309.471.Payment of contributions during disability leave.
• · · · [3309.47.2] 3309.472.Purchase of service credit for period of absence due to pregnancy.
• · · · [3309.47.3] 3309.473.Purchase of service credit for period following resignation due to pregnancy or adoption of child.
• 3309.48. Allowances where employer failed to deduct employee contribution.
• 3309.49. Employer's contribution rate.
• · · · [3309.49.1] 3309.491.Employer minimum compensation contribution to fund future health care benefits.
• · · · [3309.49.2] 3309.492.[Repealed]
• 3309.50. Lump sum payment upon death.
• 3309.51. Payment by board of education into employers' trust fund.
• 3309.52. [Repealed]

Miscellaneous.

• 3309.53. Statement to employee of duties and obligations.
• 3309.54. Names of employees certified to board.
• 3309.55. Board to be advised of changes; records; cooperation with board.
• 3309.56. Deductions and statements.
• 3309.57. Payments to board transmitted monthly.
• · · · [3309.57.1] 3309.571.Penalty for failure of employer to transmit amounts due.
• 3309.58. [Repealed]
• 3309.59. Levy of additional taxes; preference.
• 3309.60. Funds created; board may accept gifts and bequests.
• 3309.61. Funds are separate legal entities.
• 3309.62. Annual estimate of expense; apportionment; transfer of funds.
• 3309.63. Merger of local pension system with school employees retirement system; procedure.
• 3309.64. Payment of accrued liability; interest; rate.
• 3309.65. Procedure in event of merger.
• 3309.66. Exemptions from taxes and actions by creditors; nonassignability.
• · · · [3309.66.1] 3309.661.Person acquires vested right in pension when granted.
• · · · [3309.66.2] 3309.662.Waiver.
• · · · [3309.66.3] 3309.663.Payroll deduction of dues and fees of certain retiree organizations.
• 3309.67. Effect of restitution order based on theft in office or certain sex offenses.
• · · · [3309.67.1] 3309.671.Compliance with order for division of marital property.
• 3309.68. Effective until 12-1-06.
• 3309.68. Effective 12-1-06.
• 3309.69. Group health insurance for recipients of retirement, disability or survivor benefits and their dependents.
• · · · [3309.69.1] 3309.691.Program for participation in contracts for long-term health care insurance.
• 3309.70. Recovery of erroneous payments.
• 3309.73. Transfers from uniform retirement system.
• · · · [3309.73.1] 3309.731.Transferred service credit from uniform retirement system.
• 3309.74. Transfers between SERS and Cincinnati retirement system.
• 3309.75. Credit for service in Cincinnati retirement system.
• 3309.76. Transfers to Cincinnati retirement system.

Defined Contribution Plans.

• 3309.80. Rules for defined contribution plans.
• 3309.81. Benefit options; administration of plans.
• · · · [3309.81.1] 3309.811.Plans to be qualified.
• · · · [3309.81.2] 3309.812.Plans and participants to be qualified.
• · · · [3309.81.3] 3309.813.Individual accounts for each participant.
• 3309.82. Application of rest of chapter.
• 3309.85. Member contributions.
• 3309.86. Employer contributions.
• 3309.87. Deposit, crediting of contributions.
• 3309.88. Transfer of portion of employer contribution to mitigate negative financial impact on system.
• 3309.91. Member rights governed by plan selected.
• 3309.92. Effective until 10-27-06.
• 3309.92. Effective 10-27-06.
• 3309.95. Vesting of rights; rights are nonforfeitable.
• 3309.97. Member deposits; redeposit of withdrawals.
• 3309.98. Ceasing of contributions.
• 3309.99. Penalties.