145-2-46. [Effective 1/1/2021] Beneficiary's percentage under joint-life and multiple-life plans

Unless a court order specifically requires a member to allocate to the member's former spouse less than ten per cent of the member's monthly retirement allowance, the portion of a retirement allowance that continues after death to a member's surviving beneficiary pursuant to the plan of payment described in division (B)(1) or (B)(3) of section 145.46 of the Revised Code or section 9.03(e)(1)(i) or (e)(1)(iii) of the combined plan document shall be expressed as a whole percentage and shall meet or exceed the greater of the following:

(A) Ten percent of the member's monthly retirement allowance;

(B) A percentage that causes the beneficiary's monthly benefit to be at least fifty dollars.

Effective: 1/1/2021
Five Year Review (FYR) Dates: 9/29/2021
Promulgated Under: 111.15
Statutory Authority: 145.09, 145.46
Rule Amplifies: 145.32, 145.33, 145.331, 145.332, 145.37, 145.46
Prior Effective Dates: 07/01/2004, 10/27/2006, 04/06/2007 (Emer.), 07/01/2007, 01/01/2010, 01/07/2013 (Emer.), 03/24/2013, 09/01/2013 (Emer.), 09/16/2013