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OH SB42
Bill
Status
12/19/2014
Primary Sponsor
Ron Amstutz
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AI Summary
SB42 Summary
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Revises Ohio's public retirement systems (PERS, STRS, SERS, HPRF, state highway patrol) by modifying benefit calculations, service credit rules, disability retirement standards, and inter-system benefit coordination procedures.
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Allows private sector employers to automatically withhold a specified percentage of employee wages for retirement plan contributions (401(k), 403(b), or IRA plans) if employees are given the right to opt out and quarterly investment choices.
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Changes sheriff eligibility requirements to accept either a current peace officer certificate OR 13+ consecutive pay periods of full-time law enforcement employment within the prior four years, and either 2+ consecutive years of supervisory experience at sergeant rank or a bachelor's degree (or associate degree in law enforcement/criminal justice).
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Authorizes school districts with school safety and security tax levies to voluntarily report to the Ohio Department of Education how funds from those levies are being used.
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Makes various technical amendments to retirement system provisions including election of board chairs, long-term care insurance programs, beneficiary designations, and reporting requirements.
Legislative Description
To revise the law governing Ohio's public retirement systems, to allow a private sector employer to automatically deduct from an employee's compensation contributions to an employee retirement plan or program, to change the optional qualifications to be eligible for the office of sheriff, and to authorize school districts with a safety and security tax levy to report how the district is using funding from that levy to the Ohio Department of Education.
School district tax levy-school safety & security
Last Action
Governor' Action
12/19/2014