On and after July 1, 1968, all allowances, pensions, or other benefits which were payable before July 1, 1968, pursuant to the provisions of former sections 3307.26, 3307.38, 3307.41, 3307.43, 3307.49, and 3307.50 of the Revised Code, shall be increased by the percentages determined by the effective date of the allowance, pension, or benefit, as follows:
Effective Date of Benefit
Calendar Year
Percentage of Increase
1920 through 1955
24.3
1956
22.5
1957
18.4
1958
15.2
1959
14.3
1960
12.5
1961
11.3
1962
10.1
1963
8.7
1964
7.3
1965
5.6
1966
2.6
1967
2.0
January 1, 1968, through June 30, 1968
2.0
All increases determined by applying the percentages in the preceding table shall be reduced by the dollar amount of the increases granted in 1965 pursuant to divisions (D), (E), and (F) of former section 3307.401 of the Revised Code, except that no allowance, pension, or benefit shall be reduced below the amount due on June 30, 1968, and no allowance granted under this section shall be less than a total annual sum of thirty-six dollars.
The allowances increased by this section shall exclude any monthly amount payable by reason of any voluntary deposits made under the provisions of section 3307.26 of the Revised Code, except for prior service purchased before June 25, 1945.
The increases provided by this section shall be granted notwithstanding the final average salary limitation in former sections 3307.38 and 3307.43 of the Revised Code.
The cost of the increases provided by this section shall be included in the employer's contribution rate provided by sections 3307.28, 3307.30, and 3307.31 of the Revised Code. Such employer's contribution rate shall not be increased until July 1, 1969, or later to reflect the increased costs created by this section.
Amended by 129th General AssemblyFile No.147, SB 342, ยง1, eff. 1/7/2013.
Effective Date: 07-13-2000
Section: Previous 3307.67 3307.671 3307.68 3307.69 3307.691 3307.692 3307.693 3307.694 3307.695 3307.696 3307.697 3307.698 3307.699 3307.6910 3307.6911 NextLast modified: October 10, 2016