Terms Used In Ohio Code > Chapter 3305 - Alternative Retirement Plans

• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Another: when used to designate the owner of property which is the subject of an offense, includes not only natural persons but also every other owner of property. See Ohio Code 1.02
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Child: includes child by adoption. See Ohio Code 1.59
• Contract: A legal written agreement that becomes binding when signed.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Electing employee: means any eligible employee who elects, pursuant to section 3305. See Ohio Code 3305.01
• Eligible employee: means any person employed as a full-time employee of a public institution of higher education. See Ohio Code 3305.01
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• in writing: includes any representation of words, letters, symbols, or figures; this provision does not affect any law relating to signatures. See Ohio Code 1.59
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
• Property: means real and personal property. See Ohio Code 1.59
• Provider: means , with respect to each public institution of higher education, a vendor that has entered into an agreement with that public institution of higher education in accordance with section 3305. See Ohio Code 3305.01
• Public institution of higher education: means a state university as defined in section 3345. See Ohio Code 3305.01
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• state: means the state of Ohio. See Ohio Code 1.59
• State retirement system: means the public employees retirement system created under Chapter 145 of the Revised Code, the state teachers retirement system created under Chapter 3307. See Ohio Code 3305.01
• Vendor: means an entity designated under section 3305. See Ohio Code 3305.01