145.291 Purchasing service credit for time spent on pregnancy or adoption. - Ohio Statutes

145.291 Purchasing service credit for time spent on pregnancy or adoption.

Any member of the public employees retirement system who subsequent to January 1, 1935, and the date membership was established was off the payroll either on a leave of absence approved by the then appointing authority or because the member resigned due to pregnancy or adoption of a child, shall have the right to make such payment, at the contribution rate in effect at the time of payment, with interest on such amount compounded annually at a rate to be determined by the retirement board as the member would have made if the member had continued on the payroll at the earnable salary the member was receiving at the time public service was interrupted, provided that subsequent to such leave of absence or resignation the member returned to regular contributing status in the retirement system for at least twelve calendar months. In the case of resignation, the member must submit evidence satisfactory to the retirement board documenting that the resignation was due to pregnancy or adoption of a child.

The member may choose to purchase only part of the credit in any one payment, subject to board rules. The payment shall entitle the member to receive service credit for the leave or period of absence, except that service credit purchased under this section shall not exceed one year. The payment, together with any regular interest, shall, in the event of death or withdrawal from service of the member prior to retirement, be considered as accumulated contributions of the member.

Effective Date: 09-21-2000