OHIO PUBLIC EMPLOYEES RETIREMENT SYSTEM ... - OPERS

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(2) If, by his failure to comply with Chapter 145. of the Revised Code, he has enabled such other fiduciary to commit a breach; or (3) If he has knowledge of a breach by such other fiduciary, unless he makes reasonable efforts under the circumstances to remedy the breach. (E) Every fiduciary of the system shall be bonded or insured to an amount of not less than one million dollars for loss by reason of acts of fraud or dishonesty. (ENACTED: HB 113, Eff. 11/5/81; HB 37, Eff. 6/22/84) Sec. 145.114 Designation of Ohio-qualified agents; policies regarding selection and utilization of Ohio-qualified agents (A) As used in this section and in section 145.116 of the Revised Code: (1) “Agent” means a dealer, as defined in section 1707.01 of the Revised Code, who is licensed under sections 1707.01 to 1707.45 of the Revised Code or under comparable laws of another state or of the United States. (2) “Minority business enterprise” has the same meaning as in section 122.71 of the Revised Code. (3) “Ohio-qualified agent” means an agent designated as such by the public employees retirement board. (4) “Ohio-qualified investment manager” means an investment manager designated as such by the public employees retirement board. (5) “Principal place of business” means an office in which the agent regularly provides securities or investment advisory services and solicits, meets with, or otherwise communicates with clients. (B) The public employees retirement board shall, for the purposes of this section, designate an agent as an Ohio-qualified agent if the agent meets all of the following requirements: (1) The agent is subject to taxation under Chapter 5725., 5733., or 5747. of the Revised Code; (2) The agent is authorized to conduct business in this state; (3) The agent maintains a principal place of business in this state and employs at least five residents of this state. (C) The public employees retirement board shall adopt and implement a written policy to establish criteria and procedures used to select agents to execute securities transactions on behalf of the retirement system. The policy shall address each of the following: (1) Commissions charged by the agent, both in the aggregate and on a per share basis; (2) The execution speed and trade settlement capabilities of the agent; (3) The responsiveness, reliability, and integrity of the agent; (4) The nature and value of research provided by the agent; (5) Any special capabilities of the agent. (D)(1) The board shall, at least annually, establish a policy with the goal to increase utilization by the board of Ohio-qualified agents for the execution of domestic equity and fixed income trades on behalf of the retirement system, when an Ohio-qualified agent offers quality, services, and safety comparable to other agents otherwise available to the board and meets the criteria established under division (C) of this section. (2) The board shall review, at least annually, the performance of the agents that execute securities transactions on behalf of the board. 34
(3) The board shall determine whether an agent is an Ohio-qualified agent, meets the criteria established by the board pursuant to division (C) of this section, and offers quality, services, and safety comparable to other agents otherwise available to the board. The board's determination shall be final. (E) The board shall, at least annually, submit to the Ohio retirement study council a report containing the following information: (1) The name of each agent designated as an Ohio-qualified agent under this section; (2) The name of each agent that executes securities transactions on behalf of the board; (3) The amount of equity and fixed-income trades that are executed by Ohio-qualified agents, expressed as a percentage of all equity and fixed-income trades that are executed by agents on behalf of the board; (4) The compensation paid to Ohio-qualified agents, expressed as a percentage of total compensation paid to all agents that execute securities transactions on behalf of the board; (5) The amount of equity and fixed-income trades that are executed by agents that are minority business enterprises, expressed as a percentage of all equity and fixed-income trades that are executed by agents on behalf of the board; (6) Any other information requested by the Ohio retirement study council regarding the board's use of agents. (ENACTED: SB133, Eff. 9/15/04) Sec. 145.115 Disclosure to Ohio ethics commission (A) The public employees retirement system shall disclose the following to the Ohio ethics commission: (1) Anything of value received by the system from an agent and anything of value given on behalf of the system by an agent; (2) The name of any employee of the system with authority over the investment of retirement system funds or any board member of the system who deals with an agent regarding amounts described in division (A)(1) of this section. (B) The disclosures required by this section shall be made annually in a report submitted by a date prescribed by the Ohio ethics commission. (ENACTED: SB133, Eff. 9/15/04) Sec. 145.116 Designation of Ohio-qualified investment managers; policies regarding utilization of Ohio –qualified investment managers (A) The public employees retirement board shall, for the purposes of this section, designate an investment manager as an Ohio-qualified investment manager if the investment manager meets all of the following requirements: (1) The investment manager is subject to taxation under Chapter 5725., 5733., or 5747. of the Revised Code; (2) The investment manager meets one of the following requirements: (a) Has its corporate headquarters or principal place of business in this state; (b) Employs at least five hundred individuals in this state; (c) Has a principal place of business in this state and employs at least 20 residents of this state. (B)(1) The board shall, at least annually, establish a policy with the goal to increase 35
Page 1 and 2: OHIO PUBLIC EMPLOYEES RETIREMENT SY
Page 3 and 4: CHAPTER 145 OHIO REVISED CODE TABLE
Page 5 and 6: Sec. 145.327 Additional monthly pay
Page 7 and 8: Sec. 145.01 Definitions Chapter 145
Page 9 and 10: (H)(1) “Total service credit,”
Page 11 and 12: employer and employee contributions
Page 13 and 14: Revised Code, means employment cove
Page 15 and 16: house sergeant at arms, assistant h
Page 17 and 18: (7) Who is a member of the board of
Page 19 and 20: employer, the system shall not requ
Page 21 and 22: county municipal court who, upon co
Page 23 and 24: employees retirement system by sign
Page 25 and 26: Sec. 145.05 Terms of members; elect
Page 27 and 28: an election to fill a vacancy on th
Page 29 and 30: eflect independent expenditures mad
Page 31 and 32: nature is ineligible for election t
Page 33 and 34: successor retirant member who shall
Page 35 and 36: Sec. 145.091 Administration of plan
Page 37 and 38: Sec. 145.095 Internal audit committ
Page 39: Sec. 145.112 Transactions prohibite
Page 43 and 44: The board of county commissioners o
Page 45 and 46: (1) At the time employment begins,
Page 47 and 48: periods of service after January 1,
Page 49 and 50: The board shall submit the report t
Page 51 and 52: Sec. 145.23 Funds The funds hereby
Page 53 and 54: ond of the treasurer of state cover
Page 55 and 56: applies to purchase the credit by a
Page 57 and 58: Sec. 145.293 Purchase of credit for
Page 59 and 60: (C) A member of the public employee
Page 61 and 62: (c) With respect to other county em
Page 63 and 64: Sec. 145.298 State institutions; cl
Page 65 and 66: “military service credit” means
Page 67 and 68: (G) At the request of the public em
Page 69 and 70: 742.21, 742.214, 742.375, 5505.201,
Page 71 and 72: (B) Upon reemployment in the public
Page 73 and 74: (G) A member who, on March 17, 2000
Page 75 and 76: Sec. 145.31 Restoration of membersh
Page 77 and 78: (B) The attainment of minimum age o
Page 79 and 80: 1959 14.3 1960 12.5 1961 11.3 1962
Page 81 and 82: (B) The board need not make the hos
Page 83 and 84: includes any amount paid pursuant t
Page 85 and 86: 1977 20.5 1978 13.5 1979 4.0 (C) An
Page 87 and 88: may apply for an age and service re
Page 89 and 90: (j) Any person who is originally em
Page 91 and 92:
the amount of such commuted reserve
Page 93 and 94:
(G) In the event an employer files
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ecipient's disability benefit shall
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or 3307.563 of the Revised Code. If
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(7) As used in this division, “em
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Sec. 145.382 Retirant’s allowance
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(2) A benefit under this section sh
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(b) Three months have elapsed since
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(B) This division applies to any me
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145.01 of the Revised Code, or was
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member was domiciled at the time of
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(1)(a) Number Annual Benefit as Or
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(C)(1) Regardless of whether the me
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in a lesser amount payable for life
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(C) If the retirement allowances, a
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in division (B) of this section for
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(B) Except as provided in division
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next succeeding the amount, with in
Page 127 and 128:
Payment less the deductions shall b
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withholding order for purposes of r
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(b) If the charge against the perso
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insurance under division (C) of thi
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(2) "Plan B" means a plan of paymen
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(H) Receipt of the first month's an
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The board may administer the plans,
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purchase of service credit by a mem
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Consent is valid only if it is evid
Page 145 and 146:
Appendix A Long Term Care Program S
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Sec. 2907.15 Other restitution orde
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(C) Service of a notice required by
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a member, electing employee, partic
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Sec. 3305.01 Definitions Appendix C
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(D) Notwithstanding sections 125.01
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starting date of employment, the pe
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etirement system pursuant to divisi
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division (D) of section 3305.06 of
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division, all of the following appl
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Appendix D Tax Sec. 5747.071 Retire
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furnishing the auditor of state wit
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not to retain an order that provide
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(B) If the participant has applied
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accordance with section 111.15 of t
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members. The council shall organize
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The council is not subject to Chapt
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(e) The person's interest in the po
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prescribed by the "Fair Labor Stand
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Sec. 2901.43 Duty to notify (A)(1)
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(2) A violation of an existing or f
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Section Accounts Annual statement o
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Section Inequality of employers ...
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Section Former Cincinnati Correctio
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Section Removal of board members ..
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