HB 708 Summary: "Double Dippers Inappropriately Privileged (DDIP)"

• Prohibits pension receipt during re-employment: Individuals who retire from state public retirement systems (PERS, STRS, SERS, OPFPF, etc.) and are subsequently re-employed as public employees will forfeit the pension portion of their retirement allowance during the period of re-employment.

• Applies to new retirees: The restriction applies only to individuals who retire on or after the effective date of the act; those who retired before the effective date have different, more lenient provisions.

• Preserves annuity portion: While retirants forfeit pension payments during re-employment, the annuity portion of their retirement allowance is suspended and accumulates to be recalculated after employment ends.

• Requires employer notification: Public employers must notify the appropriate retirement board within one month of employing a retirant, with penalties for failure to do so.

• Applies across multiple systems: The provision covers employees of all Ohio state public retirement systems and includes cross-system notifications to prevent double-dipping across different retirement programs.