Ohio § 3307.73 Purchase of service credit for period of self-exemption

Ohio Statutes

§ 3307.73 — Purchase of service credit for period of self-exemption

Ohio § 3307.73

Title 33Education-Libraries

Ch. 3307State Teachers Retirement System

This text of Ohio § 3307.73 (Purchase of service credit for period of self-exemption) 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. § 3307.73 (2026).

Text

(A)As used in this section, "paying system" and "transferring system" have the same meanings as in section3307.57of the Revised Code.

(B)(1) Except as provided in division (B)(2) of this section, a member of the state teachers retirement system participating in the STRS defined benefit plan who has at least eighteen months of contributing service in the system, the public employees retirement system, or school employees retirement system who chose to be exempted from membership in one or more of the systems pursuant to section145.03, or3309.23of the Revised Code, or former section3307.25or3309.25of the Revised Code, or was exempt under section3307.24of the Revised Code, may purchase credit under section3307.70of the Revised Code for each year or portion of a year of service for which the

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(A) As used in this section, "paying system" and "transferring system" have the same meanings as in section3307.57of the Revised Code.

(B)(1) Except as provided in division (B)(2) of this section, a member of the state teachers retirement system participating in the STRS defined benefit plan who has at least eighteen months of contributing service in the system, the public employees retirement system, or school employees retirement system who chose to be exempted from membership in one or more of the systems pursuant to section145.03, or3309.23of the Revised Code, or former section3307.25or3309.25of the Revised Code, or was exempt under section3307.24of the Revised Code, may purchase credit under section3307.70of the Revised Code for each year or portion of a year of service for which the member was exempted.

(2) A member may not purchase credit for service that was exempted from contribution under section3307.24of the Revised Code and subject to the tax on wages imposed by the "Federal Insurance Contributions Act," 68A Stat. 415 (1954), 26 U.S.C.A. 3101, as amended.

(C) Credit described in this section shall not exceed one year of service for any twelve-month period. If the period of service for which credit is purchasable is concurrent with a period of service that will be used to calculate a retirement benefit from this system, the public employees retirement system, or school employees retirement system, the amount of the credit shall be adjusted in accordance with rules adopted by the board.

(D) A member who is also a member of the public employees retirement system or school employees retirement system shall purchase credit for any service for which the member exempted the member's self under section145.03or3309.23of the Revised Code, or former section3307.25or3309.25of the Revised Code, or was exempt under section3307.24of the Revised Code, from the retirement system in which the member has the greatest number of years of service credit. If the member receives benefits under section3307.57of the Revised Code, the system that is the paying system under that section shall receive from the system or systems that are the transferring systems the amounts paid by the member for purchase of credit for exempt service plus interest at the actuarial assumption rate of the transferring system. The interest shall be for the period beginning on the date of the member's last payment for purchase of the credit and ending on the date of the member's retirement.