(A) A public employee who, prior to August 20, 1976, was excluded from membership in the public employees retirement system because the employee was receiving benefits from a municipal retirement system established prior to June 30, 1938, may acquire credit for service rendered by paying into the employees’ savings fund an amount determined by applying the member contribution rate in effect at the time of payment to the earnable salary of the member during such period, plus interest on such amount, compounded annually at a rate to be determined by the board, and by paying an equal amount into the employers’ accumulation fund. The member may choose to purchase only part of such credit in any one payment, subject to board rule. A public employee who acquires service credit in the manner prescribed in this division shall receive benefits retroactive to the earliest date of the employee’s eligibility for retirement or disability retirement benefits under section 145.33, 145.34, 145.36, or 145.46 of the Revised Code in a single payment.
(B) A public employee who, prior to November 21, 1969, was excluded from membership in the public employees retirement system because the employee was receiving benefits from a police relief and pension fund, a firemen’s relief and pension fund, the Ohio police and fire pension fund, or the state highway patrol pension fund may acquire service credit for service rendered during such period by paying into the employees’ savings fund an amount equal to the amount the employee would have paid into such fund during such period of service if deductions had been taken on the employee’s earnable salary at the member contribution rate in effect during such period, plus interest compounded annually on such amount at a rate determined by the board and by paying an equal amount into the employers’ accumulation fund. The employee may choose to purchase only part of such credit in any one payment, subject to board rules.
(C) In the event of death or withdrawal from service, the payment to the employees’ savings fund and the employers’ accumulation fund for service credit under division (A) or (B) of this section shall be considered as accumulated contributions of the member.
(A) A public employee who, prior to August 20, 1976, was excluded from membership in the public employees retirement system because the employee was receiving benefits from a municipal retirement system established prior to June 30, 1938, may acquire credit for service rendered by paying into the employees’ savings fund an amount determined by applying the member contribution rate in effect at the time of payment to the earnable salary of the member during such period, plus interest on such amount, compounded annually at a rate to be determined by the board, and by paying an equal amount into the employers’ accumulation fund. The member may choose to purchase only part of such credit in any one payment, subject to board rule. A public employee who acquires service credit in the manner prescribed in this division shall receive benefits retroactive to the earliest date of the employee’s eligibility for retirement or disability retirement benefits under section 145.33, 145.34, 145.36, or 145.46 of the Revised Code in a single payment.
(B) A public employee who, prior to November 21, 1969, was excluded from membership in the public employees retirement system because the employee was receiving benefits from a police relief and pension fund, a firemen’s relief and pension fund, the Ohio police and fire pension fund, or the state highway patrol pension fund may acquire service credit for service rendered during such period by paying into the employees’ savings fund an amount equal to the amount the employee would have paid into such fund during such period of service if deductions had been taken on the employee’s earnable salary at the member contribution rate in effect during such period, plus interest compounded annually on such amount at a rate determined by the board and by paying an equal amount into the employers’ accumulation fund. The employee may choose to purchase only part of such credit in any one payment, subject to board rules.
(C) In the event of death or withdrawal from service, the payment to the employees’ savings fund and the employers’ accumulation fund for service credit under division (A) or (B) of this section shall be considered as accumulated contributions of the member.
(A) A public employee who, prior to August 20, 1976, was excluded from membership in the public employees retirement system because the employee was receiving benefits from a municipal retirement system established prior to June 30, 1938, may acquire credit for service rendered by paying into the employees’ savings fund an amount determined by applying the member contribution rate in effect at the time of payment to the earnable salary of the member during such period, plus interest on such amount, compounded annually at a rate to be determined by the board, and by paying an equal amount into the employers’ accumulation fund. The member may choose to purchase only part of such credit in any one payment, subject to board rule. A public employee who acquires service credit in the manner prescribed in this division shall receive benefits retroactive to the earliest date of the employee’s eligibility for retirement or disability retirement benefits under section 145.33, 145.34, 145.36, or 145.46 of the Revised Code in a single payment.
(B) A public employee who, prior to November 21, 1969, was excluded from membership in the public employees retirement system because the employee was receiving benefits from a police relief and pension fund, a firemen’s relief and pension fund, the Ohio police and fire pension fund, or the state highway patrol pension fund may acquire service credit for service rendered during such period by paying into the employees’ savings fund an amount equal to the amount the employee would have paid into such fund during such period of service if deductions had been taken on the employee’s earnable salary at the member contribution rate in effect during such period, plus interest compounded annually on such amount at a rate determined by the board and by paying an equal amount into the employers’ accumulation fund. The employee may choose to purchase only part of such credit in any one payment, subject to board rules.
(C) In the event of death or withdrawal from service, the payment to the employees’ savings fund and the employers’ accumulation fund for service credit under division (A) or (B) of this section shall be considered as accumulated contributions of the member.
