Section 742-5-04 - Military service credit(A) The first full-time Ohio public service covered under any state or in a municipal retirement system of this state which is subject to purchase or transfer under section 742.21, 742.212, 742.51, 742.511, 742.512, 742.513, 742.514, or 742.515 of the Revised Code, subject to purchase under section 742.23, 742.24, 742.375, 742.376, 742.511, or 742.512 of the Revised Code, or subject to redeposit under section 742.371 of the Revised Code, shall be considered "the first year of full-time service in Ohio" covered by any state or municipal retirement system of this state following termination of military service as used in section 742.52 of the Revised Code in reference to the purchase of military service credit. As used in section 742.52 of the Revised Code, "annual compensation" means the initial annual salary rate for the full-time position used to compute the cost of purchasing credit for military service.
(B) The employer contribution required under section 742.521 of the Revised Code shall be based on the base salary the police officer or fire fighter would have earned had military service not interrupted the member's police or fire service. Base salary is the hourly rate equivalent upon which the overtime compensation rate, if any, is based. The employer contribution required under section 742.521 of the Revised Code shall not be levied in connection with any credit granted for military service that occurred prior to October 29, 1996.
(C) For purposes of section 742.52 of the Revised Code, a person shall be deemed to be receiving a disability benefit or pension if the person fails to withdraw his/her application, as outlined in rule 742-3-17 of the Administrative Code. (D) The recovery procedures outlined in division (E)(2) of section 742.52 of the Revised Code shall include, but not be limited to, the recovery procedures outlined in rule 742-3-08 of the Administrative Code. (E) Prior to September 21, 2000, the nominal method shall be used for the calculation of compounded interest at the rate established by the board of trustees. Beginning on September 21, 2000, the effective method shall be used for the calculation of compounded interest at the rate established by the board of trustees. Ohio Admin. Code 742-5-04
Five Year Review (FYR) Dates: 10/8/2020 and 10/08/2025
Promulgated Under: 111.15
Statutory Authority: 742.10
Rule Amplifies: 742.21, 742.212, 742.23, 742.24, 742.371, 742.375, 742.376, 742.51, 742.511, 742.512, 742.513, 742.514, 742.515, 742.52, 742.521
Prior Effective Dates: 06/30/1976, 01/18/1997, 03/19/2001, 04/28/2006Five Year Review (FYR) Dates: 01/22/2016 and 01/22/2021
Promulgated Under: 111.15
Statutory Authority: 742.10
Rule Amplifies: 742.21, 742.212, 742.23, 742.24, 742.371, 742.375, 742.376, 742.51, 742.511, 742.512, 742.513, 742.514, 742.515, 742.52, 742.521
Prior Effective Dates: 6/30/76, 1/18/97, 3/19/01, 4/28/06