145-1-88 Changes to election to participate.

 

 

 

145-1-88                      Changes to election to participate.

 

 

 

(A)    This rule amplifies section 145.814 of the Revised Code and section 2.03 of the combined plan document and member-directed plan document.

 

(B)  As used in this rule and rules 145-1-89, 145-2-18, and 145-3-40 of the Administrative Code:

 

(1)    , "Additional liability," and "eligible member" have the same meanings as in section 145.814 of the Revised Code;.

 

(2)   "Amount on deposit" means the sum of the amounts available to a member to purchase service in the member's new plan as described in section 6.01 of the combined plan or section 6.01 or 6.02 of the member-directed plan.

 

(C)  Subject

 

(1)As used in this rule, "total service credit" means the sum of a member's service credit in the traditional pension plan, service credit in the combined plan, and contributing months in the member-directed plan.

 

(2)Subject to the requirements of this rule and rule 145-1-89 of the Administrative Code, in addition to the enrollment period described in sections 145.19 and

145.191 of the Revised Code, an eligible member who is  actively contributing to the retirement system may elect to participate in a different plan during the following periods of service as a public employee:

 

(1)(a) Once prior to attaining five years of total service credit;

 

(2)(b) Once after attaining five but no more than ten years of total service credit;

 

(3)(c) Once after attaining ten years of total service credit.

 

(3)An election that is not used within the specified time period may not be made in a subsequent time period.

 

An election that is not used within the specified time period may not be made in subsequent time period.

 

(D)   Except as provided in rule 145-1-89 of the Administrative Code, an election under this rule applies only to employer and employee contributions made after the effective date of the election.

 

 

 

145-1-88                                                                                                                                2

Effective:                                                     01/01/2006

R.C. 119.032 review dates:                         09/29/2005 and 09/29/2010

CERTIFIED ELECTRONICALLY

Certification

12/13/2005

Date

Promulgated Under:                           111.15

Statutory Authority:                           145.80.

Rule Amplifies:                                  145.81, 145.814.

Prior Effective Dates:                         11/15/03, 1/1/03.