Terms Used In Ohio Code > Chapter 742 - Police and Fire Pension Fund

• 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 742.01

• 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.
• Average annual salary: means the highest average annual salary of a member of the fund during any of the number of years of contributions specified in section 742. See Ohio Code 742.01
• 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}
• Bond: includes an undertaking. See Ohio Code 1.02
• Child: includes child by adoption. See Ohio Code 1.59
• 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.
• 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:
• Employee: means any person who is a member of a police department or a member of a fire department. See Ohio Code 742.01
• Employer: means the government entity by which an employee is employed and paid. See Ohio Code 742.01
• 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: 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 742.01

• Fire department: means a fire department of the state or an instrumentality of the state or of a municipal corporation, township, joint fire district, or other political subdivision. See Ohio Code 742.01
• 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.
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• 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 of a fire department: means all of the following:

  (a) Any person who commences employment after November 8, 1990, as a full-time firefighter with a fire department, in a position in which the person is required to satisfactorily complete or have satisfactorily completed a firefighter training course approved under former section 3303. See Ohio Code 742.01

• Member of a police department: means any of the following:

  (a) Any person who receives an original appointment as a full-time regular police officer in a police department from a duly established civil service eligible list or pursuant to section 124. See Ohio Code 742.01

• Member of the fund: means any person, except an other system retirant as defined in section 742. See Ohio Code 742.01
• Normal service pension benefit: means the pension benefit payable to a member of the fund under division (C)(1) of section 742. See Ohio Code 742.01
• 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.
• Physician assistant: means an individual who is licensed under Chapter 4730 of the Revised Code to provide services as a physician assistant to patients under the supervision, control, and direction of one or more physicians. See Ohio Code 1.64
• Police department: means the police department of a municipal corporation. See Ohio Code 742.01
• 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.
• Retirement allowance: means the total pension benefit or disability benefit to which a member of the fund may be entitled under division (C) of section 742. See Ohio Code 742.01
• Rule: includes regulation. See Ohio Code 1.59
• Salary: includes payments for overtime that are included in the payroll for the period in which the overtime is worked or the payroll for any period not later than sixty days after the overtime is worked. See Ohio Code 742.01
• 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.
• terminal pay: means the following payments made by an employer to an employee regardless of whether the payments are made before or after termination:

  (1) Payments for accrued but unused leave, including sick leave, vacation, personal leave, and compensatory time;

  (2) Payments deferred more than one year compensating the employee for holidays worked or for longevity;

  (3) Payments for overtime worked that are not included in the payroll for the period in which the overtime is worked or the payroll for any period ending not later than sixty days after the overtime is worked;

  (4) Other payments that are not compensation for services rendered in the last pay period in which services were rendered and are designated as terminal pay by rule of the board of trustees of the Ohio police and fire pension fund. See Ohio Code 742.01

• 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