(A) On and after July 1, 1968, all allowances, pensions, or other benefits, which are payable or become payable and for which eligibility is established prior to July 1, 1968, pursuant to sections 3309.35, 3309.36, 3309.40, 3309.45, and 3309.46 and former section 3309.38 of the Revised Code shall be increased by the percentages as determined by the effective date of the allowance, pension, or benefit as follows:
Effective Date of Benefit Calendar Year
Percentage of Increase
1937 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
(B)
(1) All increases as determined by applying the percentages in the table in division (A) of this section shall be reduced by the dollar amount of the increases granted in 1965 pursuant to section 3309.372 of the Revised Code, except that no allowance, pension, or benefit shall be reduced below the amount due June 30, 1968 and no allowance granted under this section shall be less than a total annual sum of thirty-six dollars.
(2) The allowances increased by division (A) of this section shall exclude any monthly amount payable by reason of any voluntary deposits made under section 3309.47 of the Revised Code.
(3) The increases provided by this section shall be granted notwithstanding the final average salary limitation in sections 3309.36, 3309.40, and 3309.45 of the Revised Code.
(4) The cost of the increases provided by this section shall be included in the employer contribution rate provided by section 3309.49 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.146, SB 341, ยง1, eff. 1/7/2013.
Effective Date: 06-13-1975
Section: Previous 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 3309.379 3309.3710 NextLast modified: October 10, 2016