Ohio Code § 5505.152
Ohio Code § 5505.152. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 5505.152.
(A) As used in this section, “ entry age normal actuarial cost method ” means an actuarial cost method under which the actuarial present value of the projected
benefits of each individual included in the valuation is allocated on a level basis
over the earnings or service of the individual between the entry age and the assumed
exit age, with the portion of the actuarial present value that is allocated to the
valuation year to be the normal cost and the portion of the actuarial present value
not provided for at the valuation date by the actuarial present value of future normal
costs to be the actuarial accrued liability. Under this method, the actuarial gains or losses are reflected as they occur in
a decrease or increase in the unfunded actuarial accrued liability. (B) The Ohio retirement study council shall annually review the adequacy of the contribution
rates provided under divisions (A) and (B) of section 5505.15 of the Revised Code and the contribution rates recommended in a report by the actuary of the state highway
patrol retirement system for the forthcoming year. The actuarial calculations used by the actuary shall be based on the entry age normal
actuarial cost method, and the adequacy of the contribution rates shall be reported
on the basis of that method. The Ohio retirement study council shall make recommendations to the general assembly
that it finds necessary for the proper financing of the benefits of the state highway
patrol retirement system.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 5505.152
- Jurisdiction: Ohio
- Code: Ohio Revised Code
- Text: transcribed from the official source (verify below)
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Common questions
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