145.44 Retroactive membership. - Ohio Statutes

145.44 Retroactive membership.

Members of the public employees retirement system who, prior to the date membership was established in said system, were employed by the state or any of the several local authorities mentioned in section 145.01 of the Revised Code, which state or local authority has a local retirement system established under the laws of this state for its employees, shall be permitted to pay into the employees’ savings fund of the public employees retirement system the amount, with interest as determined by the public employees retirement board, said members would have paid through regular salary deductions had they been members of the public employees retirement system continuously since January 1, 1935.

In case a given member did not enter the employ of the governmental unit having its own retirement system until a date subsequent to January 1, 1935, the payment shall be computed on the earnable salary earned from the date of appointment to the date membership was established in the public employees retirement system, provided such members have not received and are not eligible for benefits from the retirement system of said state or local governmental unit. By such payment such member shall become eligible for the benefits provided in division (A)(1) of section 145.33, section 145.331, division (A) of section 145.34, section 145.36, or section 145.361 of the Revised Code, and such member shall not become eligible for the other benefits provided by the remaining divisions of those sections until after such governmental unit has paid into the public employees retirement system fund the full liability, as determined by the actuary engaged by the board to cover such services and payments. If the governmental unit has not paid the full liability, the retirement system shall refund the amount paid by the member under this section. “Full liability” as used in this section means an amount which, when added to the payment made by the member, will provide the remaining portion of the pension reserve on such service.

Effective Date: 07-29-1992