{"data":{"id":"us-oh/ohio-rev.-code-3307.694","jurisdiction":"us-oh","citation":"Ohio Rev. Code § 3307.694","heading":"Additional allowance on or after 7/1/1968.","body":"On and after July 1, 1968, all allowances, pensions, or other benefits which were payable before July 1, 1968, pursuant to the provisions of former sections 3307.26, 3307.38, 3307.41, 3307.43, 3307.49, and 3307.50 of the Revised Code, shall be increased by the percentages determined by the effective date of the allowance, pension, or benefit, as follows:\nEffective Date of Benefit\nCalendar Year Percentage of Increase\n1920 through 1955 24.3\n1956 22.5\n1957 18.4\n1958 15.2\n1959 14.3\n1960 12.5\n1961 11.3\n1962 10.1\n1963 8.7\n1964 7.3\n1965 5.6\n1966 2.6\n1967 2.0\nJanuary 1, 1968, through June 30, 1968 2.0\nAll increases determined by applying the percentages in the preceding table shall be reduced by the dollar amount of the increases granted in 1965 pursuant to divisions (D), (E), and (F) of former section 3307.401 of the Revised Code, except that no allowance, pension, or benefit shall be reduced below the amount due on June 30, 1968, and no allowance granted under this section shall be less than a total annual sum of thirty-six dollars.\nThe allowances increased by this section shall exclude any monthly amount payable by reason of any voluntary deposits made under the provisions of section 3307.26 of the Revised Code, except for prior service purchased before June 25, 1945.\nThe increases provided by this section shall be granted notwithstanding the final average salary limitation in former sections 3307.38 and 3307.43 of the Revised Code.\nThe cost of the increases provided by this section shall be included in the employer's contribution rate provided by sections 3307.28, 3307.30, and 3307.31 of the Revised Code. Such employer's contribution rate shall not be increased until July 1, 1969, or later to reflect the increased costs created by this section.","path":["Title 33 Education-Libraries","Chapter 3307 State Teachers Retirement System"],"source_url":"https://codes.ohio.gov/ohio-revised-code/section-3307.694","current_through":"2013-01-07 (Senate Bill 342 - 129th General Assembly)","vintage":"","retrieved_at":"2026-09-14T19:24:32Z","sha256":"16db8000c451a45c07a486013358c9f922f6dc5c3a8433bdf4f0af4b439d0309","source_id":"us-oh","stale":false,"prev":"us-oh/ohio-rev.-code-3307.693","next":"us-oh/ohio-rev.-code-3307.695"},"notice":"GroundRules: Original legal text. Not legal advice."}