(A) As used in this section:

Terms Used In Ohio Code 3309.343

  • Accumulated contributions: means the sum of all amounts credited to a contributor's account in the employees' savings fund together with any regular interest credited thereon at the rates approved by the retirement board prior to retirement. See Ohio Code 3309.01
  • Benefit: means a payment, other than a retirement allowance or the annuity paid under section 3309. See Ohio Code 3309.01
  • compensation: means all salary, wages, and other earnings paid to a contributor by reason of employment. See Ohio Code 3309.01
  • Member: includes a disability benefit recipient. See Ohio Code 3309.01
  • Retirant: means any former member who retired and is receiving a retirement allowance under section 3309. See Ohio Code 3309.01
  • Retirement allowance: means the pension plus the annuity. See Ohio Code 3309.01
  • state: means the state of Ohio. See Ohio Code 1.59
  • Year: means the year beginning the first day of July and ending with the thirtieth day of June next following. See Ohio Code 3309.01

(1) In addition to the meaning in section 3309.01 of the Revised Code, when appropriate “compensation” has the same meaning as in section 3307.01 of the Revised Code.

(2) “Earnable salary” has the same meaning as in section 145.01 of the Revised Code.

(3) “SERS position” means a position for which a member of the school employees retirement system is making contributions to the system.

(4) “Other state retirement system” means the public employees retirement system or the state teachers retirement system.

(5) “State retirement system” means the public employees retirement system, state teachers retirement system, or the school employees retirement system.

(B)(1) A member of the school employees retirement system who holds two or more SERS positions may retire under section 3309.35, 3309.36, or 3309.46 of the Revised Code from the position for which the annual compensation at the time of retirement is highest and continue to contribute to the retirement system for the other SERS position or positions.

(2) A member of the school employees retirement system who also holds one or more other positions covered by the other state retirement systems may retire under section 3309.35, 3309.36, or 3309.46 of the Revised Code from the SERS position and continue contributing to the other state retirement systems if the annual compensation for the SERS position at the time of retirement is greater than annual compensation or earnable salary for the position, or any of the positions, covered by the other state retirement systems.

(3) A member of the school employees retirement system who holds two or more SERS positions and at least one other position covered by one of the other state retirement systems may retire under section 3309.35, 3309.36, or 3309.46 of the Revised Code from one of the SERS positions and continue contributing to the school employees retirement system and the other state retirement system if the annual compensation for the SERS position from which the member is retiring is, at the time of retirement, greater than the annual compensation or earnable salary for any of the positions for which the member is continuing to make contributions.

(4) A member of the school employees retirement system who has retired as provided in division (B)(2) or (3) of section 145.383 or division (B)(2) or (3) of section 3307.351 of the Revised Code may continue to contribute to the school employees retirement system for an SERS position if the member held the position at the time of retirement from the other state retirement system.

(5) A member who contributes to the school employees retirement system in accordance with division (B)(1), (3), or (4) of this section shall contribute in accordance with section 3309.47 of the Revised Code. The member’s employer shall contribute as provided in section 3309.49 of the Revised Code. Neither the member nor the member’s survivors are eligible for any benefits based on those contributions other than those provided under section 145.384, 3307.352, or 3309.344 of the Revised Code.

(C)(1) In determining retirement eligibility and the annual retirement allowance of a member who retires as provided in division (B)(1), (2), or (3) of this section, the following shall be used to the date of retirement:

(a) The member’s earnable salary and compensation for all positions covered by a state retirement system;

(b) Total service credit in any state retirement system, except that the credit shall not exceed one year of credit for any period of twelve months;

(c) The member’s accumulated contributions.

(2) A member who retires as provided in division (B)(1), (2), or (3) of this section is a retirant for all purposes of this chapter, except that the member is not subject to section 3309.341 of the Revised Code for a position or positions for which contributions continue under those divisions or division (B)(4) of this section.

(D) A retired member receiving a benefit under section 3309.344 of the Revised Code based on employment subject to this section is not a member of the school employees retirement system and does not have any rights, privileges, or obligations of membership. The retired member is an SERS retirant for purposes of section 3309.341 of the Revised Code.

(E) The school employees retirement board may adopt rules to carry out this section.

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