Ohio Administrative Code
Title 145 - Public Employees Retirement System
Chapter 145-3 - Contributions
Section 145-3-73 - Cost of living adjustment

Universal Citation: OH Admin Code 145-3-73

Current through all regulations passed and filed through September 16, 2024

(A) As used in this rule, "alternate payee" has the same meaning as in section 3105.80 of the Revised Code

(B) A benefit recipient who has received an allowance under section 9.03 of the combined plan document for at least twelve months shall have such allowance increased pursuant to section 145.323 of the Revised Code and as provided in this rule on the annual anniversary of the recipient's effective benefit date.

(C) A new benefit base upon which a cost of living adjustment shall be calculated shall be established when:

(1) A post retirement increase is granted, other than a cost of living adjustment or a payment representing reimbursement of premium for medicare part "B".

(2) A retirant receiving under the joint-life plan dies and the surviving beneficiary begins receiving a portion of the amount previously paid to the retirant.

(3) A retirant receiving under the joint-life plan reverts to the single-life plan as a result of the death of the beneficiary spouse, or divorce or dissolution of marriage as authorized in section 9.03 of the combined plan document and rule 145-3-13 of the Administrative Code.

(4) A retirant receiving under the multiple-life plan reverts to the single-life plan as a result of the removal of all beneficiaries as authorized in section 9.03 of the combined plan document and rule 145-3-13 of the Administrative Code.

(5) The benefit established at retirement is recalculated for any reason except for a cost of living adjustment or reimbursement of premium for medicare part "B."

(6) A part of a benefit is waived then the base shall be the portion being paid. If a waiver is withdrawn, the full base shall be re-established.

(D) For allowances that became payable before October 27, 2006, the apportionment of a cost of living adjustment between a benefit recipient and an alternate payee pursuant to section 9.03(d) of the combined plan document shall begin with the next cost of living adjustment granted on or after October 27, 2006, and shall continue while the order is in effect.

Five Year Review (FYR) Dates: 09/24/2014 and 09/24/2019
Promulgated Under: 111.15
Statutory Authority: 145.80
Rule Amplifies: 145.323, 145.81, 145.82
Prior Effective Dates: 1/1/03, 10/27/06, 9/1/13 (Emer.), 9/16/13

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