Section 742-7-03 - Issuance date of benefits and DPO paymentsExcept as otherwise required by law, all benefits and division of property order payments shall be issued by Ohio police and fire pension fund ("OP&F") as follows:
(A) For benefit recipients and alternate payees who receive payment by direct deposit, OP&F shall transfer the funds to the financial institution on record on the first business day of each month. In the event the first business day of the month falls on a legal holiday, the funds will be transferred on the first business day following the legal holiday.(B) For benefit recipients and alternate payees who cannot receive payment by direct deposit, OP&F shall mail checks on the last business day of the month . Ohio Admin. Code 742-7-03
Effective: 1/12/2020
Five Year Review (FYR) Dates: 10/28/2019 and 10/28/2024
Promulgated Under: 111.15
Statutory Authority: 742.10
Rule Amplifies: 742.37, 742.40
Prior Effective Dates: 05/04/2000, 09/28/2014