On and after October 1, 1957, all persons in receipt of, or who are or become eligible to receive, a monthly allowance, pension, or other benefit effective prior to June 29, 1955, which is payable or becomes payable pursuant to sections 3309.36 to 3309.3712 , 3309.40, and 3309.65 and former section 3309.38 of the Revised Code, or an allowance payable at any time under an option elected by a member and effective prior to that date, shall be paid an increased allowance, pension, or benefit as follows:
(A) An amount determined by increasing the original allowance, pension, or benefit by the following percentages as determined by the calendar year in which the allowance, pension, or benefit became effective:
Calendar Year Effective
Per Cent of Increase
1937 - 1939
100
1940
94
1941
89
1942
77
1943
70
1944
68
1945
66
1946
55
1947
35
1948
23
1949
25
1950
23
1951
8
1952
4
1953
3
1954
2
Prior to June 29, 1955
2
(B) If the amount of any such allowance, pension, or other benefit is increased by division (A) of this section to an amount less than one hundred ten per cent of the present amount payable immediately prior to October 1, 1957, such present amount shall be increased by ten per cent.
(C) On and after August 1, 1959, the monthly allowance, pension, or other benefit effective prior to June 29, 1955, (exclusive of any amount receivable monthly by reason of a voluntary deposit made for additional annuity), together with the supplemental allowance payable pursuant to divisions (A) and (B) of this section, shall be increased by twelve per cent.
Amended by 129th General AssemblyFile No.146, SB 341, ยง1, eff. 1/7/2013.
Effective Date: 06-29-2001
Section: Previous 3309.351 3309.353 3309.354 3309.36 3309.361 3309.362 3309.37 3309.371 3309.372 3309.373 3309.374 3309.375 3309.376 3309.377 3309.378 NextLast modified: October 10, 2016