3307.25 Electing defined benefit or defined contribution plan. - Ohio Statutes

3307.25 Electing defined benefit or defined contribution plan.

(A) An individual who becomes a member of the state teachers retirement system on or after the date on which the state teachers retirement board establishes a plan under section 3307.81 of the Revised Code shall make an election under this section. Not later than one hundred eighty days after the date on which employment begins, the individual shall elect to participate either in the plan described in sections 3307.50 to 3307.79 of the Revised Code or one of the plans established under section 3307.81 of the Revised Code. If a form evidencing an election under this section is not on file with the system at the end of the one-hundred-eighty-day period, the individual is deemed to have elected to participate in the plan described in sections 3307.50 to 3307.79 of the Revised Code.

(B) An election under this section shall be made in writing on a form provided by the system and filed with the system.

(C) An election under this section shall take effect on the date employment began and, except as provided in section 3307.88 of the Revised Code, is irrevocable at the end of the election period described in division (A) of this section.

(D) An individual is ineligible to make an election under this section if one of the following applies:

(1) At the time employment begins, the individual is already a member or contributor participating in the plan described in sections 3307.50 to 3307.79 of the Revised Code, a superannuate of the system, or an other system retirant, as defined in section 3307.35 of the Revised Code;

(2) An election to participate in an alternative retirement plan under section 3305.05 or 3305.051 of the Revised Code is in effect for employment covered by the system.

Effective Date: 04-01-2001