-5-
expenses, respectively (or $32,284 in total), for tuition, books,
and supplies connected to her college education. She paid the
expenses of the earlier 2 years by borrowing $10,185 in student
loans and by charging the $14,162 balance to her credit cards.
PERS notified petitioner through a letter dated October 5,
2000, that S. 144 had been passed by the Ohio General Assembly
with an effective date of December 13, 2000. The letter stated
that allowable interest would be added to the balance of
petitioner’s contributions to PERS as of December 31, 1999. The
letter also stated that petitioner would receive an additional
amount equal to 2/3 of the total of her contributions plus
interest. The letter estimated that the balance of petitioner’s
PERS account as of January 1, 2001, was $81,513.37.
In 2000, after the passage of S. 144, petitioner asked PERS
to transfer her PERS balance (inclusive of the additional
amounts) to her IRA. By letter dated January 2, 2001, PERS
notified petitioner that it had transferred $77,309.77 of the
balance to her IRA and had enclosed a “warrant” in the amount of
$4,203.61, which represented her previously taxed contributions.
The letter stated that the total amount of $81,513.38 ($77,309.77
+ $4,203.61) consisted of her accumulated contributions of
$34,665.66 plus her allowable interest of $14,144.75 plus
“applicable matching” of $32,702.97.
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