Section 3307.87 | Spousal Consent or Waiver.
Effective: January 7, 2013 Latest Legislation: Senate Bill 342 – 129th General Assembly (A)(1) If a member participating in an STRS defined contribution plan is married at the time any benefits under the plan commence, benefits shall be paid in accordance with division (A)(2) of this section, unless the spouse has consented under division (C) […]
Section 3307.89 | Offering Participation in Defined Contribution Plan to Members in Defined Benefit Plan.
Effective: January 7, 2013 Latest Legislation: Senate Bill 342 – 129th General Assembly The state teachers retirement board may offer to members participating in the STRS defined benefit plan the opportunity to also participate in one or more of the benefit options available under an STRS defined contribution plan. A member’s contributions to an option […]
Section 3307.99 | Penalty.
Effective: September 15, 2004 Latest Legislation: Senate Bill 133 – 125th General Assembly (A) Whoever violates division (A) of section 3307.073 of the Revised Code shall be fined not more than one hundred dollars for each day of the violation. (B) Whoever violates division (B) of section 3307.073 of the Revised Code shall be imprisoned […]
Section 3307.81 | Establishment and Administration of Defined Contribution Plan.
Effective: January 7, 2013 Latest Legislation: Senate Bill 342 – 129th General Assembly The state teachers retirement board shall establish one or more defined contribution plans consisting of benefit options that provide for an individual account for each participating member and under which benefits are based solely on the amounts that have accumulated in the […]
Section 3307.811 | Qualification of Plan for Federal Tax Purposes.
Effective: January 7, 2013 Latest Legislation: Senate Bill 342 – 129th General Assembly An STRS defined contribution plan shall meet the requirements necessary to qualify as a retirement system maintained by a state or local government entity under division (b)(7)(F) of section 3121 of the “Internal Revenue Code of 1986,” 100 Stat. 2085, 26 U.S.C.A. […]
Section 3307.812 | Tax Exemptions and Deferrals.
Effective: January 7, 2013 Latest Legislation: Senate Bill 342 – 129th General Assembly In establishing an STRS defined contribution plan, the state teachers retirement board may do all things necessary to avoid the system being required to pay federal or state income taxes on contributions to the plan or amounts earned under the plan and, […]
Section 3307.83 | Member Rights Governed by Plan Selected.
Effective: January 7, 2013 Latest Legislation: Senate Bill 342 – 129th General Assembly The right of each member participating in an STRS defined contribution plan to a retirement, disability, or survivor benefit, to health care insurance coverage, or to a withdrawal of contributions shall be governed by the plan selected by the member under section […]
Section 3307.84 | Transfer of Portion of Employer Contribution to Employers’ Trust Fund to Mitigate Negative Financial Impact on System.
Effective: January 7, 2013 Latest Legislation: Senate Bill 342 – 129th General Assembly For each member participating in an STRS defined contribution plan, the state teachers retirement system may transfer to the employers’ trust fund a portion of the employer contribution required under section 3307.28 of the Revised Code. If the state teachers retirement board […]
Section 3307.86 | Furnishing Contributions and Information at More Frequent Intervals.
Effective: January 7, 2013 Latest Legislation: Senate Bill 342 – 129th General Assembly The state teachers retirement system may require members participating in an STRS defined contribution plan and their employers to furnish the contributions and information required under this chapter at more frequent intervals than those required for members participating in the STRS defined […]
Section 3307.761 | Credit for Service in Uniform Retirement System.
Effective: March 22, 2019 Latest Legislation: House Bill 572 – 132nd General Assembly (A) As used in this section and section 3307.765 of the Revised Code: (1) “Uniform retirement system” or “uniform system” means the Ohio police and fire pension fund or state highway patrol retirement system. (2) “Military service credit” means credit purchased or […]