Ohio Admin. Code 5505-7-08 - Division of property orders
(A)
For purposes of
this rule:
(1)
"Order" means an order described in section
3105.81 of the Revised
Code.
(2)
"Alternate Payee," "benefit," "lump sum payment," and
"participant" have the meanings set forth in divisions (A) to (D) of section
3105.80 of the Revised
Code.
(B)
(1)
The retirement system may retain an order that
provides the last four digits of the participant or alternate payee's social
security numbers.
(2)
Prior to receiving a payment, an alternate payee shall
provide the information requested by the retirement system. The retirement
system shall not issue payment to the alternate payee until the retirement
system receives the information required for payment. An alternate payee shall
notify the retirement system in writing of any change in the
information.
(3)
Any benefit or lump sum payment that is owed and
unpaid to an alternate payee at the time of the alternate payee's death shall
be paid to the estate of the alternate payee.
(4)
The order shall
apply to the pension payment contributions to a deferred retirement option
plan. The order shall only apply to the active member contributions to a
deferred retirement option plan to the extent the contributions were made prior
to the effective date of the decree of divorce, dissolution, or legal
separation. The order shall not apply to active contribution to a deferred
retirement option plan made after the effective date of the decree of divorce,
dissolution, or legal separation.
(C)
Pursuant to
section 3105.90 of the Revised Code, an
order shall be on the form prescribed by the appendix to this rule. The
retirement system shall accept both the version of the form prescribed by the
appendix to former rule 5505-7-08 of the Administrative Code that was effective
September 28, 2010, and the version of the form prescribed by the current
appendix until June 30, 2014. After June 30, 2014, the retirement system shall
only accept the form prescribed by the current appendix.
(D)
On or after
October 27, 2006, starting with a participant's next annual benefit increase
under section 5505.174 of the Revised Code,
the annual increase shall be apportioned between the participant and the
alternate payee while an order is in effect.
Replaces: 5505-7-08
Notes
Promulgated Under: 111.15
Statutory Authority: 5505.07
Rule Amplifies: 5505.261, 3105.80, 3105.81, 3105.82, 3105.821, 3105.83, 3105.84, 3105.85, 3105.86, 3105.87, 3105.88, 3105.89, 3105.90
Prior Effective Dates: 01/02/2002 (Emer.), 03/23/2003, 08/22/2003, 07/19/2007, 12/11/2009, 09/28/2010, 01/16/2014
Promulgated Under: 111.15
Statutory Authority: 5505.07
Rule Amplifies: 5505.261, 3105.80, 3105.81, 3105.82, 3105.821, 3105.83, 3105.84, 3105.85, 3105.86, 3105.87, 3105.88, 3105.89, 3105.90
Prior Effective Dates: 01/02/2002 (Emer.), 03/23/2003, 08/22/2003, 07/19/2007, 12/11/2009, 09/28/2010, 01/16/2014
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