145-2-62 Calculation of amount due retirant or contributor with multiple beneficiaries under the multiple-life plan.

 

 

 

145-2-62                      Calculation of amount due retirant with multiple beneficiaries under "plan F".

 

 

 

(A)This rule applies to a contributor who elects a plan of payment under which a portion of the contributor's benefit continues, after the death of the contributor, to two, three, or four surviving beneficiaries. Amounts due to a retirant and unpaid to the retirant at death, shall be paid to the surviving designated beneficiaries as provided in division (D) of section 145.43 of the Revised Code and paragraph (B) of this rule.

 

(B)The amount payable to each surviving designated beneficiary described in paragraph (A) of this rule shall be determined by multiplying the amount due the retirant by a fraction whose numerator is the gross monthly amount the beneficiary will be paid and whose denominator is the total gross monthly amount all beneficiaries will be paid.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

145-2-62         Effective:	10/27/2006	2
R.C. 119.032 review dates:	09/29/2011
CERTIFIED ELECTRONICALLY
Certification
09/20/2006
Date
Promulgated Under:	111.15
Statutory Authority: Rule Amplifies:	145.09 145.43(D), 145.46.