Ohio Code 3309.312 – University of Akron law enforcement officers electing transfer to public employees retirement system
(A) Not later than ninety days after September 16, 1998, a member who, on September 16, 1998, is employed full time pursuant to section 3345.04 of the Revised Code by the university of Akron as a state university law enforcement officer may elect to transfer to the public employees retirement system in accordance with this section. An election shall be made by giving notice to the school employees retirement system on a form provided by the school employees retirement board and shall be irrevocable.
Terms Used In Ohio Code 3309.312
- Accumulated contributions: means the sum of all amounts credited to a contributor's account in the employees' savings fund together with any regular interest credited thereon at the rates approved by the retirement board prior to retirement. See Ohio Code 3309.01
- Member: includes a disability benefit recipient. See Ohio Code 3309.01
- state: means the state of Ohio. See Ohio Code 1.59
- Year: means the year beginning the first day of July and ending with the thirtieth day of June next following. See Ohio Code 3309.01
(B) When a member makes the election described in this section, the school employees retirement system shall notify the public employees retirement system. The school employees retirement system shall transfer all of the member’s service credit to the public employees retirement system and shall certify to the public employees retirement system a copy of the member’s records of service and contributions. For each year or portion of a year of credit, the school employees retirement system shall transfer to the public employees retirement system all of the following:
(1) An amount equal to the accumulated contributions standing to the member’s credit;
(2) An amount equal to the total employer contributions paid on behalf of the member;
(3) Any amount paid by the member or employer to the school employees retirement system for the purchase of service credit.
At the request of the public employees retirement system, the employer of a member who makes an election under this section shall certify to the public employees retirement system the member’s salary.
(C) A member who elects to transfer to the public employees retirement system under this section shall make contributions and receive benefits in accordance with section 145.332 of the Revised Code.
(D) A member who fails to make an election in accordance with this section shall remain a member of the school employees retirement system.
Last updated February 17, 2022 at 2:50 PM