Ohio HB424 amends the Revised Code to regulate the transfer and purchase of certain retirement service credits.

Ohio HB424 amends the Revised Code to regulate the transfer and purchase of certain retirement service credits. It specifies conditions for transferring service credits from the Ohio police and fire pension fund or the state highway patrol retirement system to the public employees retirement system. It also outlines the calculation of interest on refunded amounts and contributions for military service credit. The bill details the process for members to repurchase service credits and the conditions under which credits may be withdrawn and refunded.

Ohio HB424 amends the Revised Code to regulate the transfer and purchase of certain retirement service credits.

Ohio HB424 amends the Revised Code to regulate the transfer and purchase of certain retirement service credits. It specifies conditions for transferring service credits from the Ohio police and fire pension fund or the state highway patrol retirement system to the public employees retirement system. It also outlines the calculation of interest on refunded amounts and contributions for military service credit. The bill details the process for members to repurchase service credits and the conditions under which credits may be withdrawn and refunded.