3309-1-58 Retirement of member pursuant to section 3309.343 of the Revised Code.

 

 

 

3309-1-58                    Retirement  of  member  pursuant  to  section  3309.343  of  the Revised Code.

 

 

 

(A)  For purposes of section 3309.343 of the Revised Code and this rule:

 

(1)   "Active position" means a position for which contributions were being received by a state retirement system at the time of retirement pursuant to section

3309.343 of the Revised Code.

 

(2)    "Sers SERS annual compensation" means a member's compensation for an active position reported by an employer to the school employees retirement system for the most recent twelve-month period. If the compensation has been reported for less than a twelve-month period, the system shall convert the compensation to an annual basis.

 

(3)     "Other retirement system annual compensation" means a member's annual earnable salary or compensation for an active position as certified to this system by the public employees retirement system or the state teachers retirement system.

 

(4)    "Highest annual compensation" means the highest of the sers SERS annual compensation or the other retirement system annual compensation for an active position.

 

(5)   "Position" means employment for which a member is covered and contributes to a state retirement system.

 

(6)   "State retirement system" means the school employees retirement system, the public employees retirement system or the state teachers retirement system.

 

(7)   "Other retirement system" means the public employees retirement system or the state teachers retirement system.

 

(B)

 

(1)   When a member holds more than one active position in this system, no active positions in an other retirement system, and is electing to take a retirement benefit pursuant to section 3309.343 of the Revised Code, the member shall:

 

(a)    Apply for a benefit pursuant to section 3309.35, 3309.36, 3309.38, or

3309.46 of the Revised Code, for the active position which has the highest sers SERS annual compensation; and

 

 

 

(b)    Select which other active position or positions upon which the member shall continue to contribute to this system.

(2)    In computing the benefit described in paragraph (B)(1) of this rule all service credit in this system shall be used.

(C)

(1)    When a member holds one or more active positions in this system and one or more active positions in an other retirement system, and the active position which has the highest annual compensation is in this system, the member shall:

(a)    Apply for a benefit pursuant to section 3309.35, 3309.36, 3309.38, or

3309.46 of the Revised Code, for the active position which has the highest annual compensation; and

(b)    Select which other active position or positions upon which the member shall continue to contribute to this system or to an other retirement system.

(2)   In computing the benefit described in paragraph (C)(1) of this rule, all service credit in any state retirement system shall be used.

(D) Employment in any position covered by this system that begins subsequent to the effective retirement benefit date under section 3309.343 of the Revised Code shall be subject to section 3309.341 of the Revised Code, and rule 3309-1-50 of the Administrative Code.

Effective:                                                     05/11/2006

R.C. 119.032 review dates:                         01/23/2006 and 02/01/2011

CERTIFIED ELECTRONICALLY

Certification

05/01/2006

Date

Promulgated Under:                           111.15

Statutory Authority:                           3309.04

Rule Amplifies:                                  3309.343

Prior Effective Dates:                         5/2/01