145.29 Credit for prior service - refund of contributions.
145.29 Credit for prior service - refund of contributions.
Three years of contributing membership in the public employees retirement system subsequent to the date that membership is established entitles a member to receive prior service credit for services prior to January 1, 1935, in any capacity which comes under this chapter, provided that such member has not lost membership at any time by the withdrawal of the member’s accumulated contributions. Members who have withdrawn an exemption shall receive the prior service credit provided for under the conditions of this section, only in the event such member has made the payments required by section 145.28 of the Revised Code. If the public employees retirement board determines that a position of any employee member in any one calendar year prior to January 1, 1935, was a part-time position, the board may determine what fractional part of a year’s credit shall be given. In determining what credit shall be allowed to regular, full-time employees who are paid on an hourly or per diem basis, the board shall allow a full day’s credit to any employee toward retirement who is called to work and works any portion of a day. Credit for service between January 1, 1935, and the date of becoming a member except a part-time employee who claimed exemption under the provisions of section 145.03 of the Revised Code, may be secured by any “public employee” for service rendered an “employer” provided such public employee pays into the employees’ savings fund an amount equal to the amount the member would have paid if deductions had been taken on the member’s earnable salary at the member contribution rate in effect at the time of such payment for service after January 1, 1935, or since the member’s date of employment, plus interest on such amount compounded annually at a rate to be determined by the board. The member may choose to purchase only part of such credit in any one payment, subject to board rules. Such payment shall be refunded in the event of the death or withdrawal from service of the member prior to retirement under the same conditions and in the same manner as refunds are made under sections 145.40 and 145.43 of the Revised Code, from the employees’ savings fund.
Effective Date: 09-21-2000