Ohio Administrative Code (Last Updated: January 12, 2021)

742-3-28. Plan of payment selection for DROP participants

Latest version.

In cases where a member designates a beneficiary upon the person's election to participate in DROP and the member is required to elect a joint and survivor annuity pursuant to a court order , the member shall have the right to designate a former spouse as an additional beneficiary under division (A)(4) of section 742.3711 of the Revised Code in such cases without a corresponding reduction in DROP benefits. In all other cases, the member will not be permitted to make additional selections of beneficiaries upon the person's retirement.

Effective: 1/30/2017
Five Year Review (FYR) Dates: 11/15/2016 and 01/20/2022
Promulgated Under: 111.15
Statutory Authority: 742.10
Rule Amplifies: 742.3711
Prior Effective Dates: 10/23/06(Emer), 01/07/2007

                    
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