Ohio § 742.16
Full text of Ohio Ohio Revised Code § 742.16, with citation guidance and answers to common questions.
§ 742.16.
The board of trustees of the Ohio police and fire pension fund shall establish a period
of not more than thirty years to amortize the Ohio police and fire pension fund's
unfunded actuarial accrued pension liabilities. The board shall adopt a plan that specifies how it proposes to meet the thirty-year
amortization period not later than December 31, 2006. If the period necessary to amortize the unfunded actuarial accrued pension liability
exceeds thirty years, as determined by the actuarial valuation required by section 742.14 of the Revised Code , the board, not later than ninety days after receipt of the valuation, shall prepare
and submit to the Ohio retirement study council and the standing committees of the
house of representatives and the senate with primary responsibility for retirement
legislation a report that includes the following information: (A) The number of years needed to amortize the unfunded actuarial accrued pension liability
as determined by the actuarial valuation; (B) A plan approved by the board that indicates how the board will reduce the amortization
period of unfunded actuarial accrued pension liability to not more than thirty years; (C) Whether the board has made any progress in meeting the thirty-year amortization period.
Frequently Asked Questions About Ohio § 742.16
What does Ohio Revised Code § 742.16 cover?
Section 742.16 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 742.16?
A common citation format is "Ohio Revised Code § 742.16" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 742.16 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.