(A) Except as provided in division (F) of this section, a public employees retirement
system member or contributor who, as of December 31, 2002, has less than five years
of total service credit is eligible to make an election under this section. A member or contributor who is employed in more than one position subject to this
chapter is eligible to make only one election. The election applies to all positions subject to this chapter.
Not later than June 30, 2003, an eligible member or contributor may elect to participate
in a PERS defined contribution plan. Unless a form evidencing an election is received by the system on or before that
date, a member or contributor to whom this section applies is deemed to have elected
to continue participating in the PERS defined benefit plan.
(B) An election under this section shall be made in writing on a form provided by
the system and filed with the system.
(C) On the request of a member or contributor who made an election under this section,
the system shall credit to the plan elected the accumulated contributions standing
to the credit of the member or contributor in the employees' savings fund and cancel
all service credit and eligibility for any payment, benefit, or right under the PERS
defined benefit plan.
(D) For each member or contributor who elected under this section to participate in
a PERS defined contribution plan and made a request under division (C) of this section,
any additional deposits that were made by the member or contributor prior to April
6, 2007, under the version of division (C) of section 145.23 of the Revised Code as it existed immediately prior to that date shall be credited to the defined contribution
(E) An election under this section is effective as of January 1, 2003, and, except
as provided in section 145.814 of the Revised Code or rules governing the PERS defined benefit plan, is irrevocable on receipt by the
(F) An election may not be made under this section by a member or contributor who
is either of the following:
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