Effective: September 15, 2014
Latest Legislation: House Bill 483 - 130th General Assembly
(A) An annuity contract or custodial account procured for an employee of a public institution of higher education pursuant to section 9.90 of the Revised Code shall comply with both of the following:
(1) The annuity contract or custodial account must meet the requirements of Internal Revenue Code section 403(b).
(2) The institution, in its sole and absolute discretion, shall arrange for the procurement of the annuity contract or custodial account by doing one of the following:
(a) Selecting a minimum of four providers of annuity contracts or custodial accounts through a selection process determined by the institution in its sole and absolute discretion, except that if fewer than four providers are available the institution shall select the number of providers available.
(b) Subject to division (D) of this section, allowing each eligible employee to designate a licensed agent, broker, or company as a provider.
(B) Division (A)(2)(a) of this section does not require a public institution of higher education to select a provider if either of the following is the case:
(1) The provider is not willing to provide an annuity contract or custodial account at that public institution.
(2) The provider is not willing to agree to the terms and conditions of the agreement described in division (E) of this section.
(C) Designation as a provider under section 9.90 of the Revised Code prior to the effective date of this section does not give a licensed agent, broker, or company a right to be selected as a provider under this section, but subject to division (D) of this section, such a licensed agent, broker, or company shall remain a provider until another provider is selected under division (A)(2) of this section.
(D) If an employee designates a provider under division (A)(2)(b) of this section, the employing institution shall comply with the designation but may require either or both of the following:
(1) That the provider enter into an agreement with the institution that does either or both of the following:
(a) Prohibits the provider from transferring funds to a third party without the express consent of the institution or its authorized representative;
(b) Includes such other terms and conditions as are established by the institution in its sole discretion.
(2) That the provider be designated by a number of employees equal to at least one per cent of the institution's eligible employees or at least five employees, whichever is greater, except that the institution may not require that the provider be designated by more than fifty employees.
(E) An institution may require a provider selected under division (A)(2)(a) of this section to enter into an agreement with the institution that does either or both of the following:
(1) Prohibits the provider from transferring funds to a third party without the express consent of the institution or its authorized representative;
(2) Includes such other terms and conditions as are established by the institution in its sole discretion.
Structure Ohio Revised Code
Section 9.01 | Official Records - Preserving and Maintaining.
Section 9.02 | Inspection and Review of Financial Institution Records.
Section 9.03 | Newsletters of Political Subdivisions.
Section 9.04 | State Funds for Nontherapeutic Abortion Benefits.
Section 9.041 | Childbirth Preferred Over Abortion.
Section 9.06 | Private Operation and Management of Initial Intensive Program Prison.
Section 9.07 | Correctional Facility to House Out-of-State Prisoners.
Section 9.08 | Improper Internet Access - Private Correctional Facilities.
Section 9.10 | Facsimile Signature Defined.
Section 9.11 | Public Officials Using Facsimile Signature.
Section 9.12 | Validity of Instrument With Facsimile Signature.
Section 9.13 | Highway Project Not Located Within Subdivision Boundaries.
Section 9.14 | Loss of Funds Occasioned by Use of Duly Adopted Facsimile Signature.
Section 9.15 | Burial or Cremation of Body at Expense of Township or Municipal Corporation.
Section 9.16 | Governmental Use of Distributed Ledger Technology.
Section 9.21 | Policies Regarding Political Subdivisions That Hold Credit Card Accounts.
Section 9.22 | Use of Debit Card Accounts.
Section 9.23 | Disbursements by Government Entities Definitions.
Section 9.231 | Disbursements Over $25,000 - Contract Required - Exceptions.
Section 9.232 | Contract for Disbursements.
Section 9.233 | Recipient of Disbursements Entitled Only to Contract Payment Earned.
Section 9.234 | Records and Reports by Recipient - Financial Review - Financial Audit.
Section 9.235 | Records Open to Government Inspection.
Section 9.236 | Recipient to Repay Excess Payment - Civil Action to Recover.
Section 9.237 | Rules Governing Terms of Disbursement Contracts.
Section 9.238 | Form for Financial Reviews and Rules for Audit Reports.
Section 9.239 | Allocation of Federal Energy Efficient Building Deduction.
Section 9.24 | Findings for Recovery.
Section 9.241 | Civil Action for Recovery of Money.
Section 9.242 | Debarred Vendors; Participation in State Contracts.
Section 9.25 | Purchase of Surplus Commodities From Federal Government.
Section 9.26 | Gifts or Grants of Federal Property.
Section 9.27 | State Contracts - Invalid Terms and Conditions.
Section 9.28 | Competitive Solicitation as Public Record.
Section 9.29 | Multi-Year Asset Management Professional Service Contracts.
Section 9.30 | Public Utility Service Without Bidding and Notice.
Section 9.31 | Erroneous Bids.
Section 9.311 | Bonds Accompanying Bid to Be Executed by Approved Surety.
Section 9.312 | Factors to Determine Whether Bid Is Responsive and Bidder Is Responsible.
Section 9.313 | Reduction of Performance Bond After Substantial Performance.
Section 9.314 | Purchasing Services or Supplies by Reverse Auction.
Section 9.316 | Injunctive Relief.
Section 9.317 | Purchase of Supplies or Services by Reverse Auction.
Section 9.32 | Notification of Surety and Agent of Construction Contract Award.
Section 9.33 | Construction Management Services Definitions.
Section 9.331 | Notice of Accepting Bids for Construction Manager or Construction Manager at Risk.
Section 9.332 | Selection of and Contract With Construction Manager.
Section 9.333 | Financial Assurance to Be Provided by Construction Manager.
Section 9.334 | Evaluation of Most Qualified Proposals; Pricing Proposals; Contract Negotiations.
Section 9.335 | Construction of Statutes With Other Code Provisions.
Section 9.34 | Fiscal Year and Period of State and Political Subdivisions.
Section 9.35 | Contracts for Ministerial Duties by Public Officials.
Section 9.36 | Contract for Services of Fiscal and Management Consultants.
Section 9.361 | Payroll Deduction Benefit Program.
Section 9.37 | Direct Deposits.
Section 9.38 | Deposit of Public Moneys.
Section 9.39 | Liability for Public Money Received or Collected - Unclaimed Money.
Section 9.40 | Payroll Deduction for United States Savings Bonds.
Section 9.41 | Payroll Accounts.
Section 9.42 | Municipal Income Tax Deductions.
Section 9.43 | Savings in Share Accounts in Chartered Credit Unions Deductions.
Section 9.44 | Prior Public Service Counted in Computing Vacation Leave.
Section 9.441 | Continuing Rights or Benefits for Prior Service.
Section 9.45 | Nonprofit Debt Pooling Company Deductions.
Section 9.46 | u.s. Olympic Participation Leave.
Section 9.47 | Certificate of Compliance With Affirmative Action Programs.
Section 9.48 | Joint Purchasing Programs.
Section 9.481 | Residency Requirements Prohibited for Certain Employees.
Section 9.482 | Contracting for Services Between Political Subdivisions.
Section 9.483 | Sale and Leaseback Agreements.
Section 9.49 | Transparency in Contracts Between State and Private Attorneys.
Section 9.492 | Contingency Fee Contract With Private Attorney.
Section 9.493 | Contract With Private Attorney Outside Ohio.
Section 9.494 | Publication of Contract.
Section 9.495 | Annual Report.
Section 9.496 | Applicability.
Section 9.498 | Legislative Intent.
Section 9.50 | Display of the Pow/mia Flag During Normal Business Hours at Public Buildings.
Section 9.54 | Accessibility Signs.
Section 9.55 | Installation of Teletypewriters for Deaf or Hearing-Impaired at State Agencies.
Section 9.56 | Plans and Drawings for Public Buildings Filed With County Recorder.
Section 9.57 | Closure of Places of Worship.
Section 9.58 | Court Settlements That Conflict With the Revised Code.
Section 9.61 | Residency Not Required for Fire Chief.
Section 9.62 | Purchase of Police Dog or Horse.
Section 9.63 | Compliance With Lawful Requests Under Patriot Act.
Section 9.65 | Annuity Program for Volunteer Fire Fighters.
Section 9.661 | Liens to Secure Performance on Development Loans and Property Tax Incentives.
Section 9.67 | Restrictions on Owner of Professional Sports Team That Uses a Tax-Supported Facility.
Section 9.68 | Regulation of Arms Prohibited - Challenging Political Subdivisions.
Section 9.69 | Duties and Status of Law Enforcement Officer.
Section 9.70 | Permission for Street on Lands of Public Institution.
Section 9.73 | Public Employer Inquiries Regarding Criminal Background.
Section 9.74 | Victims of Dissemination of Image.
Section 9.75 | Requirement for Employment of Local Laborers Prohibited.
Section 9.76 | Boycott Provisions in Certain Contracts.
Section 9.78 | Determination of Effect of Criminal Conviction by Licensing Authority.
Section 9.79 | Limitations on Initial License Refusal.
Section 9.80 | Contribution to Charity Deductions.
Section 9.81 | Payroll Deduction Plans.
Section 9.82 | Risk Management and Insurance Programs Definitions.
Section 9.821 | Office of Risk Management.
Section 9.822 | Insurance and Bonds.
Section 9.823 | Risk Management Reserve Fund.
Section 9.83 | Liability Insurance for Public Employees.
Section 9.833 | Self-Insurance Program for Health Care Benefits.
Section 9.835 | Energy Price Risk Management Contract.
Section 9.84 | Witness Has Right of Counsel - Participation in Hearing Limited.
Section 9.85 | Immunity of Public Officers and Employees Definitions.
Section 9.86 | Immunity of Public Officers and Employees.
Section 9.87 | Indemnification of Public Officers and Employees.
Section 9.871 | Indemnification of Correctional Employee.
Section 9.88 | Immunity of Federal Law Enforcement Officers.
Section 9.90 | Purchase or Procurement of Insurance for Educational Employees.
Section 9.91 | Placement or Purchase of Tax-Sheltered Annuity for Educational Employees.
Section 9.911 | Annuity Contracts and Custodial Accounts.
Section 9.92 | Citizens' Reward Program.
Section 9.94 | Fractionalized Interests in Any One or More Public Obligations.
Section 9.95 | Maximum or Maximum Average Annual Interest Rate on Public Securities.
Section 9.96 | Issue Public Securities.
Section 9.97 | Exemption of Bond Interest From Income Tax.
Section 9.98 | Bond Financing Definitions.
Section 9.981 | Applicability.