A member who has elected disability coverage under this section, has not attained age sixty, and is determined by the school employees retirement board under section 3309.39 of the Revised Code to qualify for a disability benefit shall be retired on disability under this section.

Terms Used In Ohio Code 3309.40

  • 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
  • Annuity: means payments for life derived from contributions made by a contributor and paid from the annuity and pension reserve fund as provided in this chapter. See Ohio Code 3309.01
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Benefit: means a payment, other than a retirement allowance or the annuity paid under section 3309. See Ohio Code 3309.01
  • Disability benefit: means a benefit paid as disability retirement under section 3309. See Ohio Code 3309.01
  • Disability retirement: means retirement as provided in section 3309. See Ohio Code 3309.01
  • Final average salary: means the sum of the annual compensation for the three highest years of compensation for which contributions were made by the member, divided by three. See Ohio Code 3309.01
  • Member: includes a disability benefit recipient. See Ohio Code 3309.01
  • Pension: means annual payments for life derived from appropriations made by an employer and paid from the employers' trust fund or the annuity and pension reserve fund. See Ohio Code 3309.01
  • state: means the state of Ohio. See Ohio Code 1.59
  • total service: includes any period, not in excess of three years, during which a member was out of service and receiving benefits from the state insurance fund, provided the injury or incapacitation was the direct result of school employment. See Ohio Code 3309.01

Upon disability retirement, a member shall receive an annual amount that shall consist of:

(A) An annuity having a reserve equal to the amount of the member’s accumulated contributions;

(B) A pension that shall be the difference between the member’s annuity and an annual amount determined by multiplying the total service credit of such member, and in addition thereto, the number of years and fractions thereof between the effective date of the member’s disability retirement and attained age sixty, assuming continuous service, by eighty-six dollars, or by two and two-tenths per cent of the member’s final average salary, whichever is greater.

Where the member is not receiving a disability benefit under section 3309.35 of the Revised Code and is receiving a disability benefit from either the public employees retirement system or the state teachers retirement system, then such member shall not be eligible for service credit based upon the number of years and fractions thereof between the effective date of disability and attained age sixty as provided for in this division.

Such disability retirement shall not be less than thirty per cent nor more than seventy-five per cent of the member’s final average salary, except that it shall not exceed any limit to which the retirement system is subject under section 415 of the “Internal Revenue Code of 1986,” 100 Stat. 2085, 26 U.S.C.A. 415, as amended.

The school employees retirement board is the final authority in determining the eligibility of a member for such form of retirement.

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