742.446 Death benefit if electing to participate in deferred retirement option plan.
742.446 Death benefit if electing to participate in deferred retirement option plan.
(A) As used in this section, “killed in the line of duty” has the same meaning as in section 742.63 of the Revised Code.
(B) If a member dies while participating in the deferred retirement option plan, all of the following apply:
(1) The amounts accrued to the member’s benefit shall be paid to the member’s surviving spouse or, if there is no surviving spouse, the beneficiary designated by the member on a form provided by the Ohio police and fire pension fund. If there is no surviving spouse or designated beneficiary, the amounts accrued to the member’s benefit shall be paid to the member’s estate. A surviving spouse or designated beneficiary may select a method of distribution described in division (B)(3) of section 742.444 of the Revised Code. Any amount payable to the member’s estate shall be paid in a single payment.
(2) The surviving spouse shall receive a pension or benefit determined under division (D) of section 742.37 of the Revised Code and, if the member was killed in the line of duty, division (F) of section 742.63 of the Revised Code.
(3) If eligible, each surviving child shall receive a pension or benefit determined under division (E) of section 742.37 of the Revised Code and, if the member was killed in the line of duty, division (G) of section 742.63 of the Revised Code.
(4) If the member has no surviving spouse or surviving children, but has a parent or parents dependent on the member for support, the parent or parents shall receive a pension or benefit determined under division (F) of section 742.37 of the Revised Code and, if the member was killed in the line of duty, division (E) of section 742.63 of the Revised Code.
(5) The member’s surviving spouse or contingent dependent beneficiary shall receive the greater of a retirement allowance under section 742.3714 of the Revised Code or the retirement allowance resulting from an election made by the member under section 742.3711 of the Revised Code.
(C) A pension, benefit, or allowance described in division (B) of this section is effective on the first day of the month after the member’s date of death. Payments shall not commence until the board receives any documentation it requires pursuant to rules adopted by the board.
Effective Date: 07-23-2002