Section 145.39 | Increasing pension, benefit, or allowance when limits of 26 USC 415 are raised.
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 public employees retirement board shall increase the amount of the pension, benefit, or allowance of any person whose pension, benefit, or allowance payable under section 145.323, 145.33, 145.331, 145.332, 145.335, 145.36, or 145.361 or former section 145.34 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.
Last updated September 18, 2023 at 10:15 AM
Available Versions of this Section
- January 7, 2013 – Senate Bill 343 - 129th General Assembly [ View January 7, 2013 Version ]
- October 3, 2023 – Amended by House Bill 33 - 135th General Assembly [ View October 3, 2023 Version ]