Boards and Commissions

Ohio Legislative Service Commission

Public Employees Retirement Board

Status	Type of Board	Full-time	Expiration Date
Current	Permanent	No

Subject to Sunset Review	Partisan Affiliation Restriction	Senate Confirmation Required
No	No	No

Authority	Total Membership
R.C. 145.04 - 145.042 145.05 145.057 145.058 145.08 145.09 145.094 145.095 145.114 - 145.116 145.22 145.221 145.351	11

Dates of Appointment		Term Length
3 on 1/1/10 (county, retired, miscellaneous) and the same date each 4th year thereafter 4 on 1/1/11 (state, municipal, retired, university) and the same date each 4th year thereafter 3 on 2012 (investment designee and investment experts) and the same date each 4th year thereafter		4 years;ex officio

Ending Date Of Term	Report Requirements
December 31;term of office	--To the Ohio Retirement Study Council (ORSC) and the House and Senate standing committees (the committees) responsible for retirement legislation: (1) Annual actuarial valuation report, not later than September 1 following the year for which the valuation was made; (2) Actuarial investigation of mortality and service report, at least quinquennially not later than November 1 following the last fiscal year of the period the report covers; (3) Report regarding unfunded actuarial accrued pension liability, not later than 90 days after receipt of a valuation indicating that more than a 30-year amortization period is needed; (4) Annual health benefits cost report, not later than June 30 following the year for which the report was made. --Actuarial analysis of retirement legislation having measurable financial impact, to the Legislative Service Commission, ORSC, and the committees, not later than 60 days from the date the legislation was introduced. --Annual report to the Governor, ORSC, and the committees of the disability retirement experience of each employer, by March 1. --Annual gift disclosure report to the Ohio Ethics Commission (by date set by the Commission). --Annual reports (date not specified) to the ORSC regarding: (1) The committee to oversee selection of internal auditors; (2) The agents executing securities transactions; (3) Investment managers.

Ending Date Of Term

Report Requirements

December 31;term of office

--To the Ohio Retirement Study Council (ORSC) and the House and Senate standing committees (the committees) responsible for retirement legislation: (1) Annual actuarial valuation report, not later than September 1 following the year for which the valuation was made; (2) Actuarial investigation of mortality and service report, at least quinquennially not later than November 1 following the last fiscal year of the period the report covers; (3) Report regarding unfunded actuarial accrued pension liability, not later than 90 days after receipt of a valuation indicating that more than a 30-year amortization period is needed; (4) Annual health benefits cost report, not later than June 30 following the year for which the report was made. --Actuarial analysis of retirement legislation having measurable financial impact, to the Legislative Service Commission, ORSC, and the committees, not later than 60 days from the date the legislation was introduced. --Annual report to the Governor, ORSC, and the committees of the disability retirement experience of each employer, by March 1. --Annual gift disclosure report to the Ohio Ethics Commission (by date set by the Commission). --Annual reports (date not specified) to the ORSC regarding: (1) The committee to oversee selection of internal auditors; (2) The agents executing securities transactions; (3) Investment managers.

Appointment Authority	Membership Composition
Governor, Other, Senate President, Speaker	Members with other stated qualifications, Statewide elected officials/department heads

Compensation		Staff Assistance
Expenses Only		Own staff

Chairperson	Additional Information
Elected from the Board's membership	None

Qualifications
7 members elected from own memberships: 1 state employee, 1 county employee, 1 municipal employee, 1 representing miscellaneous employees (libraries, park districts, townships, conservancy districts, etc.), 2 representing retired members of the system and disability benefit recipients, and 1 representing state universities and colleges. The retirant members must reside in Ohio. The Treasurer of State appoints the Treasurer's investment designee, the Governor appoints 1 investment expert member, and the House Speaker and Senate President jointly appoint 1 investment expert member. These 3 Board members must be Ohio residents, have direct experience in the management, analysis, supervision, or investment of assets, and, within 3 years preceding their appointment, must not have been employed any of the 5 state retirement systems or by any person, partnership, or corporation that has provided to any of the state retirement systems services of a financial or investment nature. In addition, the investment designee must not currently be employed by the state or any of its political subdivisions. Ex officio member: the Director of Administrative Services. A Board member who served for one or more entire fiscal years in fiscal years 2000, 2001, or 2002 is ineligible for re-election or reappointment to the Board if the Board paid to, or reimbursed the member for, travel-related expenses that averaged more than $10,000 annually for those fiscal years. An employee or retirant member who is convicted of or pleads guilty to a felony, a theft offense, or specified ethics or other Criminal Code violations is deemed to have vacated the member's office, and a person who has been convicted of or pleaded guilty to such an offense is ineligible for election as an employee or retirant member.

Qualifications

7 members elected from own memberships: 1 state employee, 1 county employee, 1 municipal employee, 1 representing miscellaneous employees (libraries, park districts, townships, conservancy districts, etc.), 2 representing retired members of the system and disability benefit recipients, and 1 representing state universities and colleges. The retirant members must reside in Ohio. The Treasurer of State appoints the Treasurer's investment designee, the Governor appoints 1 investment expert member, and the House Speaker and Senate President jointly appoint 1 investment expert member. These 3 Board members must be Ohio residents, have direct experience in the management, analysis, supervision, or investment of assets, and, within 3 years preceding their appointment, must not have been employed any of the 5 state retirement systems or by any person, partnership, or corporation that has provided to any of the state retirement systems services of a financial or investment nature. In addition, the investment designee must not currently be employed by the state or any of its political subdivisions. Ex officio member: the Director of Administrative Services. A Board member who served for one or more entire fiscal years in fiscal years 2000, 2001, or 2002 is ineligible for re-election or reappointment to the Board if the Board paid to, or reimbursed the member for, travel-related expenses that averaged more than $10,000 annually for those fiscal years. An employee or retirant member who is convicted of or pleads guilty to a felony, a theft offense, or specified ethics or other Criminal Code violations is deemed to have vacated the member's office, and a person who has been convicted of or pleaded guilty to such an offense is ineligible for election as an employee or retirant member.