Ohio Admin. Code 742-4-01 - General DROP definitions
Capitalized terms used in rules 742-4-01 to 742-4-19 of the Administrative Code shall have the following meaning:
(A) "Average Annual Salary" is defined in
division (G) of section
742.01 of the Revised
Code.
(B) A "DROP Participant"
shall mean an eligible member who files the election (as hereinafter defined)
with OP&F and the election has been fully completed and properly completed
by the member.
(C) "OP&F" shall
mean the Ohio police and fire pension fund
created under Chapter 742. of the Revised Code.
(D) "DROP Benefit" shall mean the benefit
calculated for a DROP participant in accordance with the provisions of section
742.442 of the Revised Code and
rule
742-4-06
of the Administrative Code, but subject to the provisions of division (C) of
section 742.442
742.444
and section
742.445 of the Revised
Code.
(E) "Effective Date" is
defined in rule 742-4-07
742-4-03 of the Administrative Code.
(F) "Election" shall mean the election form
that OP&F requires in order for a member to participate in DROP, as such
form may be amended or modified from time to time by OP&F. For those
elections that have been filed with OP&F, it shall also mean the fully and
properly completed required election that is signed by the member.
(G) "Employer's First Payroll Reporting
Period" shall mean the first day of the employer's first payroll reporting
period reported to OP&F under section
742.32 of the Revised Code that
immediately follows the DROP participant's effective date, as determined by
OP&F according to its books and records.
(H) "Family Medical Leave Act" is defined in
rule 742-4-14
742-4-12 of the Administrative Code.
(I) "Member" shall have the meaning set forth
in division (E) of section
742.01 of the Revised Code, as
more fully explained in divisions (A)(2) and (B)(2) of section
742.01 of the Revised Code
and rule
742-5-03oftheAdministrativeCode.
(J) "Retirement Allowance" is defined in
division (I) of section
742.01 of the Revised Code, as
more fully described in rule 742-4-12
742-4-17 of the Administrative Code.
Notes
Promulgated Under: 111.15
Statutory Authority: 742.10, 742.43
Rule Amplifies: 742.43
Prior Effective Dates: 12/31/2002 (Emer.), 04/06/2003, 10/06/2003, 01/16/2014
Promulgated Under: 111.15
Statutory Authority: 742.10, 742.43
Rule Amplifies: 742.43
Prior Effective Dates: 12/31/2002 (Emer.), 04/06/2003, 10/06/2003, 01/16/2014
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.