§ 3307.01 State teachers retirement system – definitions
§ 3307.03 State teachers retirement system – board
§ 3307.031 Composition of state teachers retirement system
§ 3307.04 General administration and management vested in board
§ 3307.041 Travel expense policies – bonus policy – budget
§ 3307.042 Ethics policy – commission approval – ethics training
§ 3307.043 Chief investment officer – supervision duties – monitoring of securities transactions
§ 3307.044 Selection of internal auditor
§ 3307.05 Board membership
§ 3307.051 Orientation program required for new members – continuing education
§ 3307.052 Members with excessive travel expenses ineligible for another term
§ 3307.06 Board elections
§ 3307.061 Disqualification of convicted member – misconduct in office – removal procedure
§ 3307.07 Procedure for electing board members
§ 3307.071 No election if only one candidate nominated
§ 3307.072 Candidate campaign finance statements – donor statement of independent expenditures
§ 3307.073 Filing of statements – prohibited campaign activities
§ 3307.074 Complaint alleging violation of RC 3307.073 – procedure – fine
§ 3307.075 Adoption of election rules – certification of nominating petitions and election results
§ 3307.08 Oath of office
§ 3307.09 Quorum
§ 3307.091 Digital board meeting attendance
§ 3307.10 Expenses – liability insurance
§ 3307.11 Officers – executive director
§ 3307.12 Treasurer of state is custodian of funds
§ 3307.121 Annual statement of amount of funds furnished by treasurer
§ 3307.13 Legal adviser
§ 3307.131 Actions; Venue
§ 3307.14 Creation of funds – trustees
§ 3307.141 Each fund is separate legal entity
§ 3307.142 Interest compounded annually credited to accounts of members and funds
§ 3307.143 Discontinuation of health care coverage; transfer of surplus
§ 3307.15 Investment and fiduciary duties of board
§ 3307.151 Prohibited business transactions
§ 3307.152 Designation of Ohio-qualified agents – selection policy – increased utilization – annual report
§ 3307.153 Annual disclosures to Ohio Ethics Commission
§ 3307.154 Designation of Ohio-qualified investment managers – utilization – annual report
§ 3307.18 Trustee or employee of board shall have no interest in profits nor borrow funds
§ 3307.181 Restrictions on fiduciaries
§ 3307.19 Maintenance of individual account
§ 3307.20 Disclosure of records
§ 3307.21 Notifying teacher of duties and obligations under chapter
§ 3307.211 Certifying names of covered employees
§ 3307.212 Notifying board of personnel changes
§ 3307.213 Maintaining records and furnishing assistance
§ 3307.214 Information to new employees
§ 3307.231 Verifying termination of active service
§ 3307.24 Denying membership to certain classes of teachers
§ 3307.25 Electing defined benefit or defined contribution plan; election to cease participation
§ 3307.251 Employee with less than 5 years of service electing to participate in STRS defined contribution plan
§ 3307.252 Effect of electing STRS defined contribution plan
§ 3307.26 Contributions
§ 3307.261 Contributions during disability leave
§ 3307.27 Employer pick up of teacher contributions
§ 3307.28 Employer contribution
§ 3307.29 Deductions certified
§ 3307.291 Transmitting payments monthly
§ 3307.292 Failure of employer to transmit amounts due
§ 3307.30 Levying additional taxes
§ 3307.31 Deducting employer contributions from state aid moneys
§ 3307.32 Payment of amounts due retirement system from treasury
§ 3307.33 Termination of membership
§ 3307.35 Employment of retirant
§ 3307.351 Continuing contributions to state system after retirement
§ 3307.352 Retirant may apply for monthly annuity or lump sum payment
§ 3307.353 Reemployed superannuate or rehire in position filled by vote of members of board or commission
§ 3307.354 Superannuates or other system retirants
§ 3307.37 Restitution order based on theft in office or certain sex offenses
§ 3307.371 Order for division of marital property
§ 3307.372 Forfeiture of retirement benefits under RC 2929.192
§ 3307.373 Benefits subject to termination
§ 3307.39 Group health insurance coverage for retired persons and survivors
§ 3307.391 Establishing programs for long term health care insurance
§ 3307.392 Lump sum payment for death benefit
§ 3307.393 Additional deposits to fund medical expenses
§ 3307.41 Tax exemptions
§ 3307.42 Acquiring vested right in pension when granted; suspension of benefits
§ 3307.44 Waiver of rights
§ 3307.46 Increasing pension, benefit, or allowance when limits of 26 USC 415 are raised
§ 3307.461 Establishing and maintaining qualified governmental excess benefit arrangement
§ 3307.47 Recovering erroneous payments
§ 3307.48 Disability benefit recipients
§ 3307.50 Defined benefit plan definitions
§ 3307.501 Final average salary
§ 3307.51 Actuarial valuation of pension assets, liabilities, and funding requirements
§ 3307.511 Data required for preparation of mortality and service tables
§ 3307.512 Amortizing unfunded actuarial accrued pension liability
§ 3307.513 Annual report disability retirement experience of each employer
§ 3307.514 Study to determine percentage of electing employee’s compensation to be contributed by public institution of higher education
§ 3307.52 Service credited at retirement
§ 3307.53 Computing service credit
§ 3307.56 Payment to member who ceases to be a teacher
§ 3307.561 Payments to members who are members of another state retirement system
§ 3307.562 Designation or qualification of beneficiaries
§ 3307.563 Interest added to withdrawn contributions
§ 3307.57 Coordinating and integrating membership in state retirement systems
§ 3307.58 Eligibility for service retirement
§ 3307.59 Disability allowance recipient applying for service retirement
§ 3307.60 Retirant may elect plan of payment
§ 3307.62 Eligibility for disability benefits
§ 3307.63 Benefits upon disability retirement
§ 3307.631 Annual amount of disability allowance
§ 3307.66 Beneficiary may substitute other benefits
§ 3307.661 Payment of death benefit
§ 3307.67 Cost of living increase
§ 3307.671 Establishing temporary supplemental benefit fund
§ 3307.69 Recalculating benefits
§ 3307.691 Annual lifetime benefit
§ 3307.692 Annual single lifetime benefit based on 30 or more years service
§ 3307.693 Supplementing allowance
§ 3307.694 Additional allowance on or after 7-1-68
§ 3307.695 Additional monthly payment as of 12-31-71
§ 3307.696 Additional monthly payment where member died prior to 7-1-68
§ 3307.697 Additional monthly payment as of 12-19-73
§ 3307.698 Increase in monthly allowance, pension or benefit effective 7-1-81
§ 3307.699 Increase in benefits established prior to 2-1-83
§ 3307.6910 v2 Increase in benefits for awards prior to 7-1-79
§ 3307.6911 Recalculating benefits to counter effect of inflation
§ 3307.6912 Recalculating retirement allowances for retirants prior to 1945 and 1947
§ 3307.6913 Recalculating annual single lifetime benefit
§ 3307.6914 Recalculating benefits based on cumulative percentage change in CPI
§ 3307.70 Purchasing service credits
§ 3307.701 Payroll deduction plans
§ 3307.71 Restoring service credit
§ 3307.711 Payroll deduction plans – restoring PERS or SERS credit
§ 3307.712 Proceedings on request for restoration of service credit
§ 3307.72 Credit for years of service where employer failed to make contributions
§ 3307.73 Purchase of service credit for period of self-exemption
§ 3307.74 Credit for prior service – comparable public position
§ 3307.75 Credit for military service
§ 3307.751 Purchasing military service credit
§ 3307.752 Purchasing uniformed services credit
§ 3307.76 Credit for time served in other state retirement systems
§ 3307.761 Credit for service in uniform retirement system
§ 3307.762 Transferring service credit and contributions between STRS and Cincinnati retirement system
§ 3307.763 Eligibility for credit for service in Cincinnati retirement system
§ 3307.764 Transferring contributions to Cincinnati retirement system
§ 3307.765 Transferred service credit from uniform retirement system
§ 3307.77 Purchasing service credit for period of approved absence or leave
§ 3307.771 Purchasing service credit for time spent on pregnancy or adoption
§ 3307.78 Purchasing credit for service as school board member
§ 3307.79 Years of service credit of deceased member dying prior to 7-1-73 – right of survivor to purchase service credit
§ 3307.80 Rules for defined contribution plans
§ 3307.81 Establishment and administration of defined contribution plan
§ 3307.811 Qualification of plan for federal tax purposes
§ 3307.812 Tax exemptions and deferrals
§ 3307.83 Member rights governed by plan selected
§ 3307.84 Transfer of portion of employer contribution to employers’ trust fund to mitigate negative financial impact on system
§ 3307.86 Furnishing contributions and information at more frequent intervals
§ 3307.87 Spousal consent or waiver
§ 3307.89 Offering participation in defined contribution plan to members in defined benefit plan
§ 3307.99 Penalty

Terms Used In Ohio Code > Chapter 3307 - State Teachers Retirement System

  • Actuary: means an actuarial professional contracted with or employed by the state teachers retirement board, who shall be either of the following:

    (1) A member of the American academy of actuaries;

    (2) A firm, partnership, or corporation of which at least one person is a member of the American academy of actuaries. See Ohio Code 3307.01

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Amortization: Paying off a loan by regular installments.
  • 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.
  • Another: when used to designate the owner of property which is the subject of an offense, includes not only natural persons but also every other owner of property. See Ohio Code 1.02
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • anything of value: includes :

    (A) Money, bank bills or notes, United States treasury notes, and other bills, bonds, or notes issued by lawful authority and intended to pass and circulate as money;

    (B) Goods and chattels;

    (C) Promissory notes, bills of exchange, orders, drafts, warrants, checks, or bonds given for the payment of money;

    (D) Receipts given for the payment of money or other property;

    (E) Rights in action;

    (F) Things which savor of the realty and are, at the time they are taken, a part of the freehold, whether they are of the substance or produce thereof or affixed thereto, although there may be no interval between the severing and taking away;

    (G) Any interest in realty, including fee simple and partial interests, present and future, contingent or vested interests, beneficial interests, leasehold interests, and any other interest in realty;

    (H) Any promise of future employment;

    (I) Every other thing of value. See Ohio Code 1.03

  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Beneficiary: means any person eligible to receive, or in receipt of, a retirement allowance or other benefit provided by this chapter. See Ohio Code 3307.01
  • Bond: includes an undertaking. See Ohio Code 1.02
  • Child: includes child by adoption. See Ohio Code 1.59
  • compensation: includes amounts paid by an employer as a retroactive payment of earnings, damages, or back pay pursuant to a court order, court-adopted settlement agreement, or other settlement agreement if the retirement system receives both of the following:

    (i) Teacher and employer contributions under sections 3307. See Ohio Code 3307.01

  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Contributor: means any person who has an account in the teachers' savings fund or defined contribution fund, except that "contributor" does not mean a member or retirant's surviving spouse with an account in an STRS defined contribution plan. See Ohio Code 3307.01
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Decedent: A deceased person.
  • Dependent: A person dependent for support upon another.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Employer: means the board of education, school district, governing authority of any community school established under Chapter 3314 of the Revised Code, a science, technology, engineering, and mathematics school established under Chapter 3326 of the Revised Code, college, university, institution, or other agency within the state by which a teacher is employed and paid. See Ohio Code 3307.01
  • Employer contribution: means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter. See Ohio Code 3307.01
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Ex officio: Literally, by virtue of one's office.
  • Faculty: means the teaching staff of a university, college, or school, including any academic administrators. See Ohio Code 3307.01
  • Fiduciary: A trustee, executor, or administrator.
  • Fiduciary: means a person who does any of the following:

    (1) Exercises any discretionary authority or control with respect to the management of the system, or with respect to the management or disposition of its assets;

    (2) Renders investment advice for a fee, direct or indirect, with respect to money or property of the system;

    (3) Has any discretionary authority or responsibility in the administration of the system. See Ohio Code 3307.01

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Fraud: Intentional deception resulting in injury to another.
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • in writing: includes any representation of words, letters, symbols, or figures; this provision does not affect any law relating to signatures. See Ohio Code 1.59
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Inter vivos: Transfer of property from one living person to another living person.
  • Intestate: Dying without leaving a will.
  • Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Member: means any person included in the membership of the state teachers retirement system, which shall consist of all teachers and contributors as defined in divisions (B) and (D) of this section and all disability benefit recipients, as defined in section 3307. See Ohio Code 3307.01
  • Oath: includes affirmation, and "swear" includes affirm. See Ohio Code 1.59
  • Oath: A promise to tell the truth.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
  • Personal property: All property that is not real property.
  • Property: means real and personal property. See Ohio Code 1.59
  • Quorum: The number of legislators that must be present to do business.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Rule: includes regulation. See Ohio Code 1.59
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • state: means the state of Ohio. See Ohio Code 1.59
  • STRS defined benefit plan: means the plan described in sections 3307. See Ohio Code 3307.01
  • STRS defined contribution plan: means the plans established under section 3307. See Ohio Code 3307.01
  • Subpoena: A command to a witness to appear and give testimony.
  • Superannuate: means both of the following:

    (1) A former teacher receiving from the system a retirement allowance under section 3307. See Ohio Code 3307.01

  • Teacher: means all of the following:

    (a) Any person paid from public funds and employed in the public schools of the state under any type of contract described in section 3311. See Ohio Code 3307.01

  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: A person or institution holding and administering property in trust.
  • United States: includes all the states. See Ohio Code 1.59
  • Whoever: includes all persons, natural and artificial; partners; principals, agents, and employees; and all officials, public or private. See Ohio Code 1.02
  • Year: means the year beginning the first day of July and ending with the thirtieth day of June next following, except that for the purpose of determining final average salary under the plan described in sections 3307. See Ohio Code 3307.01