The bill amends sections 145.293, 742.251, 3307.74, and 3309.31 of the Revised Code to modify the limits on purchasing retirement service credit for individuals employed by the United States Government, a state, or a political subdivision. Notably, the bill removes the previous limitation that restricted the number of years of service credit that could be purchased to "the lesser of five years or" the member's total accumulated years of Ohio service. This change allows members to purchase service credit without the five-year cap, provided they meet other eligibility criteria.

Additionally, the bill clarifies that members are ineligible to purchase credit for service that is already being used in the calculation of any retirement benefits from other programs, except for social security. It also establishes that credit purchased under these sections can be combined with credit from other specified sections of the Revised Code, further streamlining the process for members seeking to enhance their retirement benefits. The existing sections being amended are repealed, indicating a comprehensive update to the retirement credit purchasing framework.

Statutes affected:
As Introduced: 145.293, 742.251, 3307.74, 3309.31