Ohio Administrative Code Title 742 - Ohio Police and Fire Pension Fund
vOhio Administrative Code – Title 742: Ohio Police and Fire Pension Fund (OP&F)
Overview:
Title 742 of the Ohio Administrative Code governs the Ohio Police and Fire Pension Fund (OP&F), which provides retirement, disability, and survivor benefits to qualified police officers and firefighters employed by Ohio municipalities.
The OP&F operates under the authority of Chapter 742 of the Ohio Revised Code and is managed by the OP&F Board of Trustees.
Key Areas Covered in Title 742:
1. Membership and Contributions
Eligibility: Active-duty municipal police officers and firefighters who are not covered by the Ohio Public Employees Retirement System (OPERS) or School Employees Retirement System (SERS).
Contributions:
Members contribute a fixed percentage of their salary (set by law).
Employers also contribute a percentage, usually higher than the employee rate.
2. Service Retirement Benefits
Members become eligible for retirement based on a combination of age and years of service (commonly 25 years of service and age 52, with reduced benefits possible earlier).
Benefit formulas are based on final average salary and years of service.
3. Disability Benefits
Two types of disability benefits are available:
Service-connected disability
Non-service-connected disability
Members must undergo medical evaluations and meet criteria outlined by OP&F rules.
4. Survivor Benefits
Survivors of deceased active or retired members may be eligible for benefits.
Eligible survivors may include spouses, dependent children, and dependent parents.
5. Deferred Retirement Option Plan (DROP)
Allows eligible members to "retire" for pension calculation purposes while continuing to work and earn a salary.
Monthly pension benefits are deposited into a DROP account during continued employment, with interest.
6. Benefit Payments and Overpayments
Detailed rules govern the calculation, timing, and disbursement of benefits.
OP&F has the right to recoup overpayments under defined procedures.
7. Purchasing Service Credit
Members may purchase service credit for:
Military service
Prior public employment
Leaves of absence
Payment plans and interest charges apply.
8. Health Care and Medicare
OP&F may provide access to health care coverage for eligible retirees and dependents.
Coordination with Medicare is mandatory for retirees over age 65.
9. Appeals and Hearings
Members may appeal decisions regarding benefits.
Hearings may be conducted by the Board or designated officers under specific procedural rules.
Administration and Governance
The OP&F Board of Trustees includes active and retired members, gubernatorial appointees, and statutory members.
Responsibilities include:
Managing the fund’s investments
Overseeing benefit determinations
Ensuring legal compliance and sound fiduciary management
Legal Foundation
This administrative code title works in tandem with Ohio Revised Code Chapter 742.
Compliance with applicable federal IRS guidelines is also required.
RELATED Blog
0 comments