Ohio § 5505.403

§ 5505.403.

(A) If the conditions described in division (B) of section 5505.401 of the Revised Code are met and a person who is a member or former member of the state highway patrol

retirement system but not a current contributor and who is not receiving a pension

or benefit from the state highway patrol retirement system elects to receive credit

under the Cincinnati retirement system for service for which the person contributed

to the state highway patrol retirement system or purchased or obtained as military

service credit, the state highway patrol retirement system shall transfer the amounts

specified in division (B) or (C) of this section to the Cincinnati retirement system. (B) If a person has not received a refund of accumulated contributions from the state

highway patrol retirement system, the retirement system shall, for each year of service

credit, transfer to the Cincinnati retirement system the sum of the following: (1) An amount equal to the person's contributions to the state highway patrol retirement

system and payments made by the member for military service credit; (2) An amount equal to the lesser of the employer's contributions to the state highway

patrol retirement system for the year of service or the amount that would have been

contributed by the employer for the service had the person been a member of the Cincinnati

retirement system at the time the credit was earned; (3) Interest on the amounts specified in divisions (B)(1) and (2) of this section for

the period from the last day of the year for which the service credit was earned or

in which payment was made for military service credit to the date the transfer was

made. (C) If the person has received a refund of accumulated contributions to the state highway

patrol retirement system, the retirement system shall, for each year of service credit,

transfer to the Cincinnati retirement system the sum of the following: (1) Interest on the amount refunded to the former member that is attributable to the

year of service from the last day of the year for which the service credit was earned

or in which payment was made for military service credit to the date the refund was

made; (2) An amount equal to the lesser of the employer's contributions to the state highway

patrol retirement system for the year of service or the amount that would have been

contributed by the employer for the service had the person been a member of the Cincinnati

retirement system at the time the credit was earned, with interest on that amount

from the last day of the year for which the service credit was earned to the date

of the transfer. (D) The amount transferred under division (C)(1) of this section shall not include any

amount of interest the Cincinnati retirement system paid to the person when it made

the refund. (E) On receipt of notice from the Cincinnati retirement system that the Cincinnati retirement

system has received payment from a person described in division (C) of this section,

the state highway patrol retirement system shall transfer the amount described in

that division. (F) Interest charged under this section shall be calculated separately for each year

of service credit.  Unless otherwise specified in this section, it shall be calculated at the lesser

of the actuarial assumption rate for that year of the state highway patrol retirement

system or the Cincinnati retirement system.  The interest shall be compounded annually. (G) The transfer of any amount under this section cancels an equivalent amount of service

credit. (H) At the request of the Cincinnati retirement system, the state highway patrol retirement

system shall certify to the Cincinnati retirement system a copy of the records of

the service and contributions of a member or former member of the state highway patrol

retirement system who elects to receive service credit under the Cincinnati retirement

system. (I) In addition to entering into an agreement with the Cincinnati retirement system under section 5505.401 of the Revised Code , the state highway patrol retirement system board may adopt rules establishing procedures

for the transfer of contributions under this section.