Public School Employees Retirement System | Midpage

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Ohio Revised Code

Chapter 3309

Public School Employees Retirement System

3309.01Public school employees retirement system definitions 3309.011Exclusions from definition of employee 3309.012Board member to elect whether to become member of system 3309.013Exclusions from definition of employee under ORC section 3309.01 3309.02Credit for military service 3309.021Purchasing military service credit 3309.022Purchasing uniformed services credit 3309.03School employees retirement system - board 3309.031System consists of plans established by chapter 3309.04General administration and management vested in board 3309.041Travel expense policies - bonus policy - budget 3309.042Ethics policy - commission approval - ethics training 3309.043Chief investment officer - supervision duties - monitoring of securities transactions 3309.044Selection of internal auditor 3309.05Board membership 3309.051Orientation program required for new members - continuing education 3309.052Members with excessive travel expenses ineligible for another term 3309.06Board elections 3309.061Disqualification of convicted member - misconduct in office - removal procedure 3309.07Electing employee and retirant members 3309.071No election when only one nominee for employee or retirant member 3309.072Candidate campaign finance statements - donor statement of independent expenditures 3309.073Filing of statements - prohibited campaign activities 3309.074Complaint alleging violation of RC 3309.073 - procedure - fine 3309.075Adoption of election rules - certification of nominating petitions and election results 3309.08Oath of office 3309.09Quorum 3309.091Video conference meetings 3309.10Service on board; reimbursement for employer; expenses; liability insurance 3309.11Officers - executive director 3309.12Treasurer of state is custodian of funds 3309.13Legal adviser 3309.14Technical and administrative employees - retirement applications 3309.15Investment and fiduciary duties of board 3309.155Prohibited business transactions 3309.156Restrictions on fiduciaries 3309.157Designation of Ohio-qualified agents - selection policy - utilization - annual report 3309.158Annual disclosures to Ohio Ethics Commission 3309.159Designation of Ohio-qualified investment managers - utilization - annual report 3309.16Denomination or consolidation of bonds 3309.17Record of proceedings between board and taxing district 3309.18Interest credited annually 3309.19Trustee or employee of board shall have no interest in profits nor borrow funds 3309.20Maintenance of individual account 3309.21Actuarial valuation of pension assets, liabilities, and funding requirements 3309.211Amortizing unfunded actuarial accrued pension liability 3309.212Study to determine percentage of electing employee's compensation to be contributed by public institution of higher education 3309.22Annual statement of funds 3309.23Contributors to school employees retirement system 3309.24Members of local district pension system excluded from membership - membership by petition 3309.25Information to new employees 3309.251Electing defined benefit or defined contribution plan 3309.252Employee with less than 5 years of service electing to participate in defined contribution plan 3309.253Effect of electing defined contribution plan 3309.26Restoring service credit 3309.261Payroll deduction plans - restoring PERS or STERS credit 3309.262Proceedings on request for restoration of service credit 3309.27Payroll deduction plans 3309.28Statement to be filed by employee member 3309.29Verifying termination of active service 3309.30Service credit 3309.301Purchase of service credit for period of self-exemption 3309.31Credit for prior service - comparable public position 3309.311Purchasing credit for service as school board member 3309.312University of Akron law enforcement officers electing transfer to public employees retirement system 3309.32Prior service credit 3309.33Retirement incentive plan 3309.34Eligibility for service retirement 3309.341Employment of retirant 3309.343Continuing contributions to state system after retirement 3309.344Retirant may apply for monthly annuity or lump sum payment 3309.345Reemployed superannuate or rehire in position filled by vote of members of board or commission 3309.35Coordinating and integrating membership in state retirement systems 3309.353Increase in benefits established prior to 2/1/1983 3309.354Increase in benefits where eligibility established prior to 9-9-88 3309.36Allowances for service retirement 3309.361Annual lifetime benefit 3309.362Increase in annual amount of benefit effective 7-1-81 3309.363Contribution based benefit cap 3309.374Cost of living increase 3309.375Benefits equivalent to medicare 3309.376Additional monthly payment as of 12-31-71 3309.377Additional monthly payment where member died prior to 7-1-68 3309.378Additional monthly payment as of 12-19-73 3309.379Recalculating benefits 3309.3710Increase in monthly allowance, pension or benefit effective 7-1-81 3309.3711Increasing pension, benefit, or allowance when limits of 26 USC 415 are raised 3309.3712Establishing and maintaining qualified governmental excess benefit arrangement 3309.381Disability allowance recipient applying for service retirement 3309.39Providing disability coverage for on-duty illness or injury 3309.391Annual report disability retirement experience of each employer 3309.392Social security disability insurance benefits 3309.40Benefits upon disability retirement 3309.401Annual amount of disability allowance 3309.41Disability benefit recipient to retain membership status 3309.42Payment to member who ceases to be a public employee 3309.43Payments to members who are members of another state retirement system 3309.44Designation or qualification of beneficiaries 3309.45Beneficiary may substitute other benefits 3309.451Service credit purchased upon death of member 3309.46Electing a plan of payment 3309.47Contribution of contributor 3309.471Contributions during disability leave 3309.472Purchasing service credit for time spent on pregnancy 3309.473Purchasing service credit for time spent on pregnancy or adoption 3309.474Purchase of service credits for leaves of absence 3309.48Employer failing to deduct employee contribution 3309.49Employer contribution 3309.491Employer minimum compensation contribution 3309.50Payment of death benefit 3309.51Payment into employers' trust fund 3309.53Written statement to employee of duties and obligations 3309.55Notifying board of personnel changes 3309.56Deductions; report 3309.57Transmission of contributions 3309.571Penalties 3309.59Levying additional taxes 3309.60Creation of funds - trustees 3309.61Each fund is separate legal entity 3309.62Estimating expenses annually 3309.63Merger of local pension system with school employees retirement system - procedure 3309.64Payment of accrued liability - interest - rate 3309.65Procedure for transfer of moneys and securities in event of merger 3309.66Tax exemptions 3309.661Acquiring vested right in pension when granted 3309.662Waiver of rights 3309.663Payroll deduction of membership dues and fees of retiree organizations 3309.67Restitution order based on theft in office or certain sex offenses 3309.671Order for division of marital property 3309.672Forfeiture of retirement benefits under RC 2929.192 3309.673Benefits subject to termination 3309.68Payment of amounts due retirement system from treasury 3309.69Group health care coverage for eligible individuals or dependents 3309.691Establishing programs for long term health care insurance 3309.692Additional deposits to fund medical expenses 3309.70Recovering erroneous payments 3309.73Credit for service in uniform retirement system 3309.731Transferred service credit from uniform retirement system 3309.74Transferring service credit and contributions between SERS and Cincinnati retirement system 3309.75Eligibility for credit for service in Cincinnati retirement system 3309.76Transferring contributions to Cincinnati retirement system 3309.80Rules for defined contribution plans 3309.81Establishment and administration of defined contribution plan 3309.811Qualification of plan as governmental plan for federal tax purposes 3309.812Qualification of plan as retirement system maintained by a state or local government entity for federal tax purposes 3309.813Maintaining individual account for each participant 3309.82Application of chapter to defined contribution plan 3309.85Contributions of members 3309.86Contributions of employers 3309.87Deposit and crediting of contributions 3309.88Transfer of portion of employer contribution to employers' trust fund to mitigate negative financial impact on system 3309.91Member rights governed by plan selected 3309.92Spousal consent or waiver 3309.95Right to payment or benefit vested 3309.97Deposits of members 3309.98Ceasing contributions 3309.99Penalty