Ohio Admin. Code 742-3-11 - Decision deadlines/non-COLA benefit
(A) A member of the fund who is eligible to
make the election under division (B)
(D) of section
742.3716 of the Revised Code
shall be given notice of such choice. If a member of the fund who is eligible
to make such election fails to make a decision within sixty days of being
notified of the exact pension or benefit amount payable, then such member shall
be deemed conclusively not to have exercised the election under division
(B)
(D) of
section 742.3716 of the Revised Code and
the pension or benefit shall be paid accordingly.
(B) Notwithstanding rule
742-3-07
of the Administrative Code, a member of the fund who has been notified in
writing of the actuarial equivalent of the member's retirement allowance shall
have sixty days to return to the fund completed annuity agreement forms or to
request a modified payment plan. If the member fails to file completed annuity
agreement forms or a written request for a modified payment plan within the
aforesaid sixty day period, then such member shall be deemed conclusively to
have consented to the optional plan selected.
(C) A member of the fund is deemed to consent
to the deduction of unpaid employee contributions required under section
742.31 of the Revised Code from
any pension or benefit payable under section
742.37 or
742.39 of the Revised
Code.
Notes
Promulgated Under: 111.15
Statutory Authority: 742.10
Rule Amplifies: 742.3716, 742.31
Prior Effective Dates: 12/19/1997 (Emer.), 03/31/1998, 07/31/2003, 01/07/2013 (Emer.), 02/04/2013
Promulgated Under: 111.15
Statutory Authority: 742.10
Rule Amplifies: 742.3716, 742.31
Prior Effective Dates: 12/19/1997 (Emer.), 03/31/1998, 07/31/2003, 01/07/2013 (Emer.), 02/04/2013
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