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Employers Manual
Employment of Retired Ohio Teachers
Reemployment Benefit
During periods of reemployment covered under one of the Ohio
public retirement systems, the retiree makes contributions to the appropriate
retirement system. These contributions are used to fund an additional
annuity benefit or the retiree may choose a lump-sum benefit. The retiree may collect this benefit upon termination of employment.
At age 65 or after, these contributions, plus a portion of matching funds and interest, determine the annuity amount that will be paid as a benefit. A lump-sum benefit will be paid if the annuity amount is less than $25.
If contributions are withdrawn before age 65, the lump-sum payment is based on the member’s contributions and interest. Retirees forfeit all matching funds when withdrawal occurs before the age of 65.
Payments for reemployment benefits include interest at rates approved by the Retirement Board and matching funds. Reemployed retirees receive full (100%) matching funds for contributions on earnings prior to July 1, 2005. Contributions on earnings from July 1, 2005, and after receive a 50% match. Interest rates and matching percentages are subject to change without notice.
