(A) Effective July 1, 1981, each person eligible to receive an age and service or disability pension, allowance, or benefit pursuant to Chapter 5505 of the Revised Code, that was based upon an award made effective before October 1, 1974, shall have the person’s monthly pension increased by five per cent of the first five thousand dollars of the annual pension, allowance, or benefit.

Terms Used In Ohio Code 5505.173

  • Pension: means an annual amount payable by the retirement system throughout the life of a person or as otherwise provided in the plan. See Ohio Code 5505.01
  • Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59

(B) Effective July 1, 1981, each person eligible to receive a survivor’s benefit pursuant to Chapter 5505 of the Revised Code that was based upon an award made effective before July 1, 1981, shall have the person’s monthly benefit increased by five per cent, except that the twelve-month sum of such increases shall not exceed five per cent of the first five thousand dollars of the annual benefit.

(C) The increases provided in divisions (A) and (B) of this section shall be applied to the benefit payable on and after July 1, 1981.

(D) The benefits provided in divisions (A) and (B) of this section are a continuation of those first provided in Am. Sub. H. B. 204 as passed by the 113th general assembly.

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