Terms Used In Ohio Code > Chapter 3309 - Public School Employees Retirement System

• 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
• Actuary: means an individual who satisfies all of the following requirements:

  (1) Is a member of the American academy of actuaries;

  (2) Is an associate or fellow of the society of actuaries;

  (3) Has a minimum of five years' experience in providing actuarial services to public retirement plans. See Ohio Code 3309.01

• 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: 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.
• 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.
• beneficiaries: means the estate or a person or persons who, as the result of the death of a contributor or retirant, qualifies for or is receiving some right or benefit under this chapter. See Ohio Code 3309.01
• 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}
• Benefit: means a payment, other than a retirement allowance or the annuity paid under section 3309. See Ohio Code 3309.01
• Bond: includes an undertaking. See Ohio Code 1.02
• Child: includes child by adoption. See Ohio Code 1.59
• compensation: means all salary, wages, and other earnings paid to a contributor by reason of employment. See Ohio Code 3309.01
• 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: includes any person participating in a plan established under section 3309. See Ohio Code 3309.01
• 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.
• Disability allowance: means an allowance paid on account of disability 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 benefit recipient: means a member who is receiving a disability benefit. See Ohio Code 3309.01
• Disability retirement: means retirement as provided in section 3309. See Ohio Code 3309.01
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Employee: means all of the following:

  (1) Any person employed by a public employer in a position for which the person is not required to have a registration, certificate, or license issued pursuant to section 3301. See Ohio Code 3309.01

• Employer contribution: means the amount paid by an employer as determined under section 3309. See Ohio Code 3309.01
• 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.
• 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 3309.01

• Fiduciary: A trustee, executor, or administrator.
• 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
• 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.
• Local district pension system: means any school employees' pension fund created in any school district of the state prior to September 1, 1937. See Ohio Code 3309.01
• Member: includes a disability benefit recipient. See Ohio Code 3309.01
• Oath: includes affirmation, and "swear" includes affirm. See Ohio Code 1.59
• Oath: A promise to tell the truth.
• Ohio service credit: means all contributing service of a member of the school employees retirement system, and all prior service, computed as provided in this chapter, and all service established pursuant to sections 3309. See Ohio Code 3309.01
• 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.
• 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
• Pension reserve: means the present value, computed upon the basis of mortality tables adopted by the school employees retirement board, of all payments to be made on account of any pension, or benefit in lieu of any pension, granted to a retirant or a beneficiary. See Ohio Code 3309.01
• Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
• Prior service: means all service rendered prior to September 1, 1937:

  (1) As an employee as defined in division (B) of this section;

  (2) As an employee in a capacity covered by the public employees retirement system or the state teachers retirement system;

  (3) As an employee of an institution in another state, service credit for which was procured by a member under the provisions of section 3309. See Ohio Code 3309.01

• Property: means real and personal property. See Ohio Code 1.59
• public employer: means boards of education, school districts, joint vocational districts, governing authorities of community schools established under Chapter 3314 of the Revised Code, a science, technology, engineering, and mathematics school established under Chapter 3326 of the Revised Code, educational institutions, technical colleges, state, municipal, and community colleges, community college branches, universities, university branches, other educational institutions, or other agencies within the state by which an employee is employed and paid, including any organization using federal funds, provided the federal funds are disbursed by an employer as determined by the above. See Ohio Code 3309.01
• 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.
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• 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
• 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
• Subpoena: A command to a witness to appear and give testimony.
• 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
• 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. See Ohio Code 3309.01