Ohio Revised Code § 5505.175 - Increase In Benefit Or Allowance When Irc 415 Limits Increased.

Whenever the limits established by section 415 of the "Internal Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C.A. 415, as amended, are raised, the state highway patrol retirement board shall increase the amount of the pension, benefit, or allowance of any person whose pension, benefit, or allowance payable under section 5505.17, 5505.174, or 5505.18 of the Revised Code was limited by the application of section 415. The amount of the increased pension, benefit, or allowance shall not exceed the lesser of the amount the person would have received if the limits established by section 415 had not been applied or the amount the person is eligible to receive subject to the new limits established by section 415.

Effective Date: 07-01-1990

Section: Previous  5505.162  5505.163  5505.17  5505.171  5505.172  5505.173  5505.174  5505.175  5505.176  5505.177  5505.178  5505.18  5505.181  5505.19  5505.20  Next

Last modified: October 10, 2016