School Employees Retirement System - General Provisions - Mandatory direct deposit.

Published: 2017-04-20

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(A) For purposes of this rule, "alternate payee" has the same meaning as defined in section 3105.80 of the Revised Code.

(B) Except as provided in paragraph (C) of this rule, an individual whose retirement, benefit, or payment effective date is on or after January 1, 2013 and who receives an annuity, pension, allowance, monthly benefit, or monthly payment from the school employees retirement system shall be paid by direct deposit, which is an electronic fund transfer directly to an individual's account at a financial institution. Retirants, benefit recipients, and alternate payees shall provide to the retirement system valid direct deposit account and routing numbers, the name and contact information of the financial institution, and such other information as may be required by the retirement system. The retirement system may withhold payment until the individual provides the information described in this paragraph.

(C) If a retirant, benefit recipient, or alternate payee resides outside the United States, in a nursing or convalescent home, correctional facility, jail, or prison, or experiences other circumstances such that compliance with paragraph (B) of this rule is impracticable, the individual may submit a written request for exemption from direct deposit and the retirement system staff shall approve or deny the request.