Ohio § 3307.69 Recalculating benefits

Ohio Statutes

§ 3307.69 — Recalculating benefits

Ohio § 3307.69

Title 33Education-Libraries

Ch. 3307State Teachers Retirement System

This text of Ohio § 3307.69 (Recalculating benefits) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 3307.69 (2026).

Text

(A)On and after the first day of the month following December 14, 1992, each person eligible to receive a benefit, pursuant to former sections3307.38,3307.41,3307.43,3307.50, and division (C)(1) of former section3307.49of the Revised Code, that was based upon an award made effective before June 30, 1955, shall have the benefit payable as of September 30, 1974, recalculated by the state teachers retirement board so that each such person shall receive an annual single lifetime benefit or its actuarial equivalent of not less than one hundred forty dollars for each year of the member's total service credit, except that service credit exceeding thirty-two years shall not be used in the recalculation, and a final average salary limitation shall not be applied. If the amount of the benefit reca

Free access — add to your briefcase to read the full text and ask questions with AI

(A) On and after the first day of the month following December 14, 1992, each person eligible to receive a benefit, pursuant to former sections3307.38,3307.41,3307.43,3307.50, and division (C)(1) of former section3307.49of the Revised Code, that was based upon an award made effective before June 30, 1955, shall have the benefit payable as of September 30, 1974, recalculated by the state teachers retirement board so that each such person shall receive an annual single lifetime benefit or its actuarial equivalent of not less than one hundred forty dollars for each year of the member's total service credit, except that service credit exceeding thirty-two years shall not be used in the recalculation, and a final average salary limitation shall not be applied.

If the amount of the benefit recalculated under this division is less than the amount that is payable on the effective date of this section, then the greater benefit shall be continued.

(B) On and after the first day of the month following December 14, 1992, each person receiving a benefit, pursuant to former sections3307.38,3307.41,3307.43,3307.50and division (C)(1) of former section3307.49of the Revised Code, that was effective on and after June 30, 1955, through June 30, 1971, shall be paid an increased benefit as follows:

The increase shall be applied to the benefit payable on December 14, 1992.

(C) On and after the first day of the month following December 14, 1992, each person receiving or qualified to receive a benefit, pursuant to division (C)(2) of former section3307.49of the Revised Code, that was effective on and after June 14, 1951, through August 26, 1970, shall receive an increase in such benefit in the amount of twenty per cent.