HB 723 Summary

• Amends sections 3307.05, 3307.06, and 3307.07 of the Ohio Revised Code regarding State Teachers Retirement Board membership and elections.

• Establishes qualified designees for the superintendent of public instruction position requiring state residency, asset management experience, and no employment with retirement systems or related entities within three years prior.

• Requires the treasurer of state's investment designee to meet qualifications including state residency, asset management experience, and prohibition from current state or political subdivision employment.

• Allows superannuates (retired members) employed in positions requiring system contributions to serve as both contributing members and retired teacher members of the board.

• Current board members' terms are not affected by this act's effective date.