University policy regarding retirement
(A) Salary deduction.
(1) It is mandatory that regular members of the faculty join the state teachers retirement system of Ohio and that full-time nonteaching employees join the public employees retirement system of Ohio. The employee retirement contribution (the employee's deferred salary) is calculated on each payroll. The employee's deferred salary is contributed by the university to the appropriate retirement system for the employee's account. The university makes an additional contribution. These contributions approximate eight and one-half per cent of the sum of the individual's cash and deferred salary and an additional thirteen per cent of that sum contributed by the university, subject to change. Precise current percentages may be learned from the personnel office.
(2) Pamphlets containing information on the retirement systems are available in the staff benefits office. For more detailed information, members are urged to write directly to the retirement system in Columbus.
Effective: June 1, 2007
Prior Effective Dates: 11/4/1977, 3/18/1982, 11/22/1982, 11/22/1985, 7/15/1987, 8/21/1989, 3/7/2000