145-1-76. [Effective 1/1/2021] Benefits payable to a reemployed retirant

(A)

(1) Benefits payable to a PERS or other system retirant pursuant to section 145.384 of the Revised Code shall be effective as provided in that section.

(2) Benefits payable to the beneficiary of a PERS or other system retirant shall be effective the first of the month following the retirant's date of death.

(B) A PERS or other system retirant may withdraw an application for benefits in the same method as described in rule 145-1-71 of the Administrative Code.

(C) Unless voided by an event as described in division (G) of section 145.384 of the Revised Code, the designation of a beneficiary by a PERS or other system retirant shall apply for all re-employment periods except for a period for which a benefit has already been paid or for which a retirant is accruing a supplemental benefit. A designation shall be made on a form provided by the public employees retirement board, signed by the retirant and filed with the board.

(D) If a retirant makes an application for a benefit pursuant to division (B)(2) of section 145.384 of the Revised Code, the retirant shall select a plan of payment as described in division (B) of section 145.46 of the Revised Code and designate a beneficiary.

(E) For those contributors whose benefit under section 145.384 of the Revised Code is commenced under the single-life plan in accordance with section 401(a)(9) of the Internal Revenue Code and the regulations thereunder, not later than one year after the effective date of the benefit described in this paragraph, a contributor who was married on the effective date of the benefit may elect the joint-life plan based on the actuarial equivalent of the contributor's single life annuity as determined by the board. The election shall be made on a form approved by the retirement system and shall be effective on the effective date of the benefit paid under the single-life plan. Any benefit overpayment may be recovered as provided in section 145.563 of the Revised Code.

(F) Except as provided in section 145.384 of the Revised Code or this rule, beneficiary and plan of payment changes shall be made in accordance with rules 145-2-44, 145-2-46, and 145-2-47 of the Administrative Code.

Effective: 1/1/2021
Five Year Review (FYR) Dates: 9/30/2020 and 09/25/2025
Promulgated Under: 111.15
Statutory Authority: 145.09
Rule Amplifies: 145.38, 145.383, 145.384
Prior Effective Dates: 08/01/1992, 04/05/2001, 01/01/2003, 06/20/2003, 10/27/2006, 04/01/2008 (Emer.), 06/23/2008, 01/01/2010, 01/07/2013 (Emer.), 03/24/2013, 09/01/2013 (Emer.), 09/16/2013