145-1-63 Guardianship and power of attorney.

 

 

 

TO BE RESCINDED

 

145-1-63                      Guardianship and power of attorney.

 

 

 

(A)   For the purpose of this rule, "recipient" means a member, a contributor, a retirant, or a beneficiary who is eligible to receive a benefit or a payment as provided in Chapter 145. of the Revised Code.

 

(B)    Guardianship of the estate shall be required and the guardian shall obtain a court order approving a change of retirement plan, selection of a plan of payment, designation of a beneficiary, or application for and receipt of a refund if:

 

(1)   The recipient is eighteen years of age or older and suffers from a legal disability as defined in division (B), (C), or (D) of section 2131.02 of the Revised Code; or

 

(2)   The recipient is a beneficiary and is under eighteen years of age.

 

(C)  Notwithstanding paragraph (B) of this rule, guardianship shall not be required if:

 

(1)   The lump sum amount payable to a recipient regardless of legal disability or age who is in the care of the recipient's parent does not exceed ten thousand dollars per recipient.

 

(2)   The lump sum amount payable to a recipient regardless of legal disability or age who is in the care of someone other than the recipient's parent or child does not exceed one thousand dollars.

 

(3)   The annual amount payable to a recipient under eighteen who is in the care of the recipient's parent will not exceed five thousand dollars per recipient.

 

(4)     A court of competent jurisdiction has issued an order pursuant to section 2111.02, 2111.021, 2111.05 or 2111.131 of the Revised Code or a comparable non-Ohio statute.

 

(5)   The recipient is a member who is eligible to receive a refund pursuant to section

145.40 of the Revised Code or article VIII of the member-directed or combined plan document and is under eighteen years of age and otherwise competent.

 

(D)    When the recipient has designated an attorney in fact with the authority to act pursuant to a power of attorney, or, a durable power of attorney if the recipient is mentally  incapacitated  as  evidenced  by  a  physician's  statement,  the  retirement

 

 

system may permit a recipient's attorney in fact to authorize the release of account information, provide and update bank information for direct deposit of the recipient's benefits, update the recipient's address, receive correspondence on the recipient's behalf, and make changes to the recipient's health care coverage.

Effective:	01/01/2007
R.C. 119.032 review dates:	09/29/2006
CERTIFIED ELECTRONICALLY
Certification
12/15/2006
Date
Promulgated Under:	111.15
Statutory Authority:	145.09.
Rule Amplifies:	145.32, 145.35, 145.36, 145.361, 145.384, 145.40,
Prior Effective Dates:	145.43, 145.45, 145.46. 1/1/06; 12/24/04; 1/1/03; 5/29/95; 8/31/92; 1/1/90; 12/9/88/ 9/27/85; 10/17/73.