Ohio § 3307.81 Establishment and administration of defined contribution plan

Ohio Statutes

§ 3307.81 — Establishment and administration of defined contribution plan

Ohio § 3307.81

Title 33Education-Libraries

Ch. 3307State Teachers Retirement System

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Bluebook

Ohio Rev. Code Ann. § 3307.81 (2026).

Text

The state teachers retirement board shall  establish one or more defined contribution plans consisting of  benefit options that provide for an individual account for each  participating member and under which benefits are based solely on  the amounts that have accumulated in the account. The plans may  include options under which a member participating in a plan may  receive definitely determinable benefits.

An STRS defined contribution plan established under this  section shall meet the requirements of sections3307.81to3307.89of the Revised Code. It may include life insurance, annuities,  variable annuities, regulated investment trusts, pooled investment  funds, or other forms of investment.

The board may administer the plans, enter into contracts with  other entities to administer the 

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The state teachers retirement board shall establish one or more defined contribution plans consisting of benefit options that provide for an individual account for each participating member and under which benefits are based solely on the amounts that have accumulated in the account. The plans may include options under which a member participating in a plan may receive definitely determinable benefits.

An STRS defined contribution plan established under this section shall meet the requirements of sections3307.81to3307.89of the Revised Code. It may include life insurance, annuities, variable annuities, regulated investment trusts, pooled investment funds, or other forms of investment.

The board may administer the plans, enter into contracts with other entities to administer the plans, or both. The board may contract with another entity to administer the plans if the entity agrees to meet all requirements of this chapter applicable to the plans.