145-2-06 Purchase of military service credit.

 

 

 

145-2-06                      Purchase of military service credit.

 

 

 

(A)  This rule amplifies sections 145.301 and 145.302 of the Revised Code.

 

(B)   The member shall submit report(s) of separation (form DD214) or other satisfactory documentation to the public employees retirement system as evidence of the member's military service and discharge.

 

(C)   If a member has been in military service more than once as evidenced by more than one report of separation or service and wishes to purchase credit under section

145.302 of the Revised Code for more than one period of military service, interest as set in rule 145-1-35 of the Administrative Code shall be charged from the date the member last terminated military service.

 

(D)  For

 

(1)For military service purchased under section 145.301 of the Revised Code:, the retirement system shall calculate the cost by using the member's earnable salary for the twelve months of contributing service under Chapter 145., 3307., or 3309. of the Revised Code immediately preceding the month in which the application to purchase is received by the system.

 

(1)A member shall have at least twelve months of contributing service for purposes of the calculation described in paragraph (D)(2) of this rule;

 

(2)The retirement system shall calculate the cost by using the greater of the member's final average salary or earnable salary for the twelve months of contributing service under Chapter 145., 3307., or 3309. of the Revised Code immediately preceding the month in which the application to purchase is received by the system. The public employees retirement board shall, based upon its actuary's recommendation, set the percentage rate for the cost of service allowed under section 145.301 of the Revised Code.

 

(2) Annually the public employees retirement board shall set the percentage rate for the cost of service allowed under section 145.301 of the Revised Code, based upon its actuary's recommendation.

 

(E)   Where applicable, the member's public employer shall certify information including, but not limited to, the earnable salary the member would have earned during the member's military service on a form provided by the retirement system.

 

(F)    The employer contributions due pursuant to section 145.302 of the Revised Code shall be billed to the employer for payment after the member has paid all or part of the employee contributions due. If the employer fails to make the payments required,  any  employer  amounts  not  paid  shall  be  certified  for  collection  and

 

 

subject to the same penalty and interest described in section 145.51 of the Revised Code.

Effective:                                                     03/24/2013

R.C. 119.032 review dates:                         09/29/2016

CERTIFIED ELECTRONICALLY

Certification

03/14/2013

Date

Promulgated Under:                           111.15

Statutory Authority:                           145.09

Rule Amplifies:                                  145.302, 145.302

Prior Effective Dates:                         8/15/73, 1/1/78, 1/2/90, 8/6/90, 11/2/96, 5/4/00,

1/1/03, 1/1/07