Effective: April 6, 2017
Latest Legislation: House Bill 520 - 131st General Assembly
A state highway patrol retirement system member who meets the following requirements may, at any time prior to applying for retirement under section 5505.16 of the Revised Code, elect to participate in the deferred retirement option plan established under section 5505.50 of the Revised Code:
(A) The member is younger than fifty-eight years of age.
(B) The member is eligible to apply for retirement under section 5505.16 of the Revised Code, except that eligibility to apply for a reduced pension under division (B) of that section does not make a member eligible to elect to participate in the deferred retirement option plan.
The member shall make the election by filing with the retirement system an election form provided by the system. The election is effective on the first day of the employer's first payroll period immediately following the board's receipt of the notice of election.
At the time of making the election to participate in the deferred retirement option plan, the member also shall make an election under section 5505.162 of the Revised Code. Except as provided in that section, the election under section 5505.162 of the Revised Code is irrevocable from the date it is received by the retirement system.
A member electing to participate in the deferred retirement option plan must agree to terminate active service in the state highway patrol and begin receiving the member's pension not later than the earlier of the member's sixtieth birthday or the date that is eight years after the effective date of the election to participate in the plan. If the member refuses or neglects to terminate active service in accordance with the agreement, the state highway patrol retirement board shall deem the member's service terminated.
While participating in the deferred retirement option plan, a member shall not be considered to have elected retirement under section 5505.16 of the Revised Code.
Structure Ohio Revised Code
Title 55 | Roads-Highways-Bridges
Chapter 5505 | Highway Patrol Retirement System
Section 5505.01 | Highway Patrol Retirement System Definitions.
Section 5505.02 | State Highway Patrol Pension Fund Established - Membership Mandatory.
Section 5505.03 | Creation of Funds.
Section 5505.04 | State Highway Patrol Retirement Board Organization and Rules.
Section 5505.041 | Election to Board - Retirant Member Eligibility - Terms.
Section 5505.042 | Filing of Vacancies by Election.
Section 5505.043 | Election Not Required Where Candidate Unopposed.
Section 5505.045 | Filing of Statements - Prohibited Campaign Activities.
Section 5505.046 | Complaint Alleging Violation of Rc 5505.045 - Procedure - Fine.
Section 5505.048 | Disqualification of Convicted Member - Misconduct in Office - Removal Procedure.
Section 5505.049 | Members With Excessive Travel Expenses Ineligible for Another Term.
Section 5505.05 | Oath - Expenses - Liability Insurance.
Section 5505.06 | Investment and Fiduciary Duties of State Highway Patrol Retirement Board.
Section 5505.061 | Transactions Prohibited.
Section 5505.062 | Travel Expense Policies - Bonus Policy - Budget.
Section 5505.063 | Ethics Policy - Commission Approval - Ethics Training.
Section 5505.064 | Orientation Program Required for New Members - Continuing Education.
Section 5505.069 | Annual Disclosures to Ohio Ethics Commission.
Section 5505.0610 | Designation of Ohio-Qualified Investment Managers - Utilization - Annual Report.
Section 5505.07 | Secretary, Actuary, and Employees - Compensation and Expenses.
Section 5505.08 | No Participation by Trustees.
Section 5505.09 | Bonds of Taxing Districts May Be Offered to Board.
Section 5505.10 | Deposit and Security.
Section 5505.11 | Treasurer of State Is Treasurer of State Highway Patrol Retirement System.
Section 5505.111 | Selection of Internal Auditor.
Section 5505.122 | Format for Report to Retirement Study Council.
Section 5505.14 | Certificate of Prior Service.
Section 5505.15 | Employer Contribution.
Section 5505.151 | Contributions for Time Off While on Disability Leave.
Section 5505.152 | Annual Review of Adequacy of Contributions Rates.
Section 5505.16 | Application for Retirement.
Section 5505.161 | Retirant Re-Employed in Other State Retirement System.
Section 5505.162 | Election of Type of Pension.
Section 5505.163 | Election by Retirant Prior to 9-21-94.
Section 5505.17 | Pension and Benefits Upon Retirement.
Section 5505.171 | Additional Monthly Payments and Benefits.
Section 5505.172 | Additional Monthly Payments Eligibility on or After 7-1-68 and Prior to 7-1-71.
Section 5505.173 | Increase in Monthly Pension, Allowance or Benefit Effective 7-1-81.
Section 5505.174 | Eligibility for Cost-of-Living Increase.
Section 5505.175 | Increase in Benefit or Allowance When Irc 415 Limits Increased.
Section 5505.176 | Increase in Pension for Certain Retirees Prior to 9-16-98.
Section 5505.177 | Qualified Governmental Excess Benefit Arrangement Maintained and Established.
Section 5505.178 | Pensions Paid in Equal Monthly Installments.
Section 5505.18 | Disability Retirement.
Section 5505.181 | Annual Report Disability Retirement Experience of Each Employer.
Section 5505.19 | Cessation of Membership - Disposition of Accumulations.
Section 5505.20 | Restoration of Membership.
Section 5505.201 | Full Credit for Time Served as Police Officer or Firefighter.
Section 5505.203 | Payroll Deduction Plan for Payments for Service Credits.
Section 5505.21 | Distribution of Accumulated Contributions When No Pension Payable.
Section 5505.22 | Pension and Accumulated Contributions Exempt From Tax.
Section 5505.23 | Legal Adviser.
Section 5505.25 | Purchase Service Credit for Military Service.
Section 5505.26 | Restitution Order Based on Theft in Office or Certain Sex Offenses.
Section 5505.261 | Order for Division of Marital Property.
Section 5505.262 | Forfeiture of Retirement Benefits Under Rc 2929.192.
Section 5505.263 | Benefits Subject to Termination.
Section 5505.27 | Payments From State Treasury.
Section 5505.28 | Health Insurance.
Section 5505.281 | Additional Deposits to Fund Medical Expenses.
Section 5505.29 | Refunding Cost of Restored Service Credit.
Section 5505.30 | Lump Sum Death Benefit Payment.
Section 5505.33 | Long-Term Care Insurance Programs.
Section 5505.34 | Recovering Erroneous Payments.
Section 5505.35 | Authorized Deductions.
Section 5505.402 | Eligibility for Credit for Service in Cincinnati Retirement System.
Section 5505.403 | Transferring Contributions to Cincinnati Retirement System.
Section 5505.41 | Transferring Contributions on Deposit From Non-Uniform Retirement System.
Section 5505.50 | Deferred Retirement Option Plan.
Section 5505.51 | Participation in Deferred Retirement Plan - Election Procedure.
Section 5505.52 | Plan Members Ineligible for Service Credit or Health Benefits.
Section 5505.53 | Determination of Plan Member's Pension Amount.
Section 5505.54 | Accrual of Plan Member's Pension and Contributions.
Section 5505.55 | Events Terminating Member's Participation in Plan.
Section 5505.56 | Notice of Termination of Active Service - Distribution of Accrued Amount.
Section 5505.57 | Method and Timing of Distribution of Accrued Amount.
Section 5505.58 | Plan Member Qualifying for Disability Retirement.
Section 5505.59 | Plan Member Dying While Participant - Distribution of Benefits.