145-3-21 Purchase of service credit by combined plan members.

 

Rule Summary and Fiscal Analysis (Part A)

 

Public Employees Retirement System

Agency Name

 

Julie Emch Becker

Division                                                                  Contact

 

277 East Town St. Columbus OH 43215 - 4642	614-222-0040	614-857-1117
Agency Mailing Address (Plus Zip)	Phone	Fax

 

 

145-3-21

Rule Number

NEW

TYPE of rule filing

Rule Title/Tag Line              Purchase of service credit by combined plan members.

RULE SUMMARY

1.  Is the rule being filed consistent with the requirements of the RC 119.032 review? No

2.  Are you proposing this rule as a result of recent legislation? Yes

Bill Number: SB247               General Assembly: 124           Sponsor: Blessing

3.  Statute prescribing the procedure in accordance with the agency is required to adopt the rule: 111.15

4.  Statute(s) authorizing agency to adopt the rule: 145.80.

5.  Statute(s) the rule, as filed, amplifies or implements: 145.01, 145.20, 145.201, 145.28, 145.29, 145.2911, 145.293, 145.295, 145.299, 145.2913, 145.301, 145.302, 145.44, 145.47, 145.81, 145.82.

6.  State the reason(s) for proposing (i.e., why are you filing,) this rule:

Reorganize and renumber. New rule to implement the new retirement plans.

7.  If the rule is an AMENDMENT, then summarize the changes and the content of the proposed rule; If the rule type is RESCISSION, NEW or NO CHANGE, then summarize the content of the rule:

Addresses the establishment of the combined plan by incorporating by reference provisions of the traditional plan to allow a member participating in the combined plan to purchase service credit.

8.  If revising or refiling this rule, identify changes made from the previously filed version of this rule; if none, please state so:

Not Applicable.

9.  119.032 Rule Review Date:

(If you answered NO to question No. 1, provide the scheduled review date. If you answered YES to No. 1, the review date for this rule is the filing date.)

NOTE: At time of final filing, two dates are required: the current review date plus a date not to exceed 5 years from the effective date for Amended rules or a date not to exceed 5 years from the review date for No Change rules.

FISCAL ANALYSIS

10.  Estimate the total amount by which this proposed rule would increase / decrease either revenues / expenditures for the agency during the current biennium (in dollars): Explain the net impact of the proposed changes to the budget of your agency/department.

This will have no impact on Revenues or Expenditures

$ 0.00

This proposed rule will not change the Agency's projected budget during the current biennium.

11.  Identify the appropriation (by line item etc.) that authorizes each expenditure necessitated by the proposed rule:

Item: N/A

Expenditure: N/A

12.  Provide a summary of the estimated cost of compliance with the rule to all directly affected persons. When appropriate, please include the source for your

information/estimated costs, e.g. industry, CFR, internal/agency:

N/A

13.  Does this rule have a fiscal effect on school districts, counties, townships, or municipal corporations? No

14.  Does this rule deal with environmental protection or contain a component dealing with environmental protection as defined in R. C. 121.39? No