145-2-49 Retirement benefits for law enforcement officers.

 

 

 

145-2-49                      Retirement benefits for law enforcement officers.

 

 

 

(A)  Definitions

 

(1)   "Law enforcement officer" means a member defined in divisions (AA) to (UU)

(VV) of section 145.01 of the Revised Code and described in division (VV) (WW) of section 145.01 of the Revised Code.

 

(2)   "Law enforcement service" means service as a law enforcement officer.

 

(3)   "Non law Non-law enforcement service" means service covered covered by the public employees retirement system which is other than law enforcement service.

 

(B)   If a law enforcement officer is eligible, applies for, and elects to receive retirement benefits pursuant to division (E)(1)(b) of section 145.33 of the Revised Code, the law enforcement officer shall elect to receive the benefit amount for the non law non-law enforcement service as one of the following:

 

(1)   A monthly annuity for life;

 

(2)   A lump sum payment discounted to the present value.

 

If the monthly annuity would be less than twenty-five dollars per month, the law enforcement officer shall receive a lump sum payment. If at the time of the retirant's death the retirant has received a total amount of monthly benefits which were less than the retirant would have received as a lump sum payment discounted to the present value of the non law non-law enforcement service benefit, the difference between the amount the retirant received and the amount the retirant would have received shall be paid to the retirant's beneficiary.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

145-2-49                                                                                                                                2

Effective:                                                     01/01/2006

R.C. 119.032 review dates:                         09/29/2006

CERTIFIED ELECTRONICALLY

Certification

12/13/2005

Date

Promulgated Under:                           111.15

Statutory Authority:                           145.09

Rule Amplifies:                                  145.33

Prior Effective Dates:                         1/1/03, 4/5/01, 2/30/00, 12/6/93, 12/30/91, 7/31/89,

8/20/76