3309.34 Eligibility for service retirement. - Ohio Statutes

3309.34 Eligibility for service retirement.

(A)(1) A member of the school employees retirement system whose membership began before the effective date of this amendment is eligible for service retirement if the member has at least five years of total service credit and has attained sixty years of age, or if the member has at least thirty years of total service credit at any age. A member whose membership began before the effective date of this amendment is eligible for commuted service retirement if the member has at least twenty-five years of total service credit and has attained fifty-five years of age.

(2) A member whose membership began on or after the effective date of this amendment is eligible for service retirement if the member meets one of the following requirements:

(a) Has earned at least ten years of total service credit and has attained sixty-two years of age;

(b) Has earned at least twenty-five years of total service credit and has attained sixty years of age;

(c) Has earned at least thirty years of total service credit and has attained fifty-five years of age.

(B) A member may retire by filing an application for retirement with the school employees retirement board on a form provided by the board. The board shall not retire the member sooner than the first day of the month next following the later of:

(1) The last day of employment for which compensation was paid;

(2) The attainment of minimum age and service credit eligibility for service or commuted service retirement.

(C) At least once every ten years, the board shall direct its actuary to evaluate the retirement eligibility requirements of this section.

Effective Date: 07-24-1990; 2008 SB148 05-14-2008