b'City of Dover Tuscarawas County, Ohio Notes to the Basic Financial Statements For the Year Ended December 31, 2018 Plan DescriptionOhio Police & Fire Pension Fund (OP&F)Plan DescriptionCity full-time police and firefighters participate in Ohio Police and Fire Pension Fund, a cost-sharing,multiple-employerdefinedbenefitpensionplanadministeredbyOP&F.OP&Fprovides retirement and disability pension benefits, annual cost-of-living adjustments (COLA), and death benefits to plan members and beneficiaries.Benefit provisions are established by the Ohio State Legislature and are codified in Chapter 742 of the Ohio Revised Code.OP&F issues a publicly available financial report that includesfinancialinformationandrequiredsupplementaryinformationanddetailedinformationabout OP&Fs fiduciary net position.The report may be obtained by visiting the OP&F website at www.op-f.org or by writing to the Ohio Police and Fire Pension Fund, 140 East Town Street, Columbus, Ohio 43215-5164.Upon attaining a qualifying age with sufficient years of service, a member of OP&F may retire and receive a lifetimemonthlypension.OP&Foffersfourtypesofserviceretirement:normal,servicecommuted, age/service commuted and actuarially reduced. Each type has different eligibility guidelines and is calculated usingthemembersaverageannualsalary.Thefollowingdiscussionofthepensionformularelatesto normal service retirement.For members hired after July 1, 2013, the minimum retirement age is 52 for normal service retirement with at least 25 years of service credit.For members hired on or before July 1, 2013, the minimum retirement age is 48 for normal service retirement with at least 25 years of service credit.The annual pension benefit for normal service retirement is equal to a percentage of the allowable average annual salary.The percentage equals 2.5 percent for each of the first 20 years of service credit, 2.0 percent for each of the next 5 years of service credit, and 1.5 percent for each year of service credit in excess of 25 years. The maximum pension of 72 percent of the allowable average annual salary is paid after 33 years of servicecredit(SeeOP&Fsfinancialreportreferencedpreviouslyforadditionalinformation,including requirements for Deferred Retirement Option Plan (DROP) provisions and reduced and unreduced benefits).Under normal service retirement, retired members who are at least 55 years old and have been receiving OP&F benefits for at least one year may be eligible for a cost-of-living allowance adjustment.The age 55 provision for receiving a COLA does not apply to those who are receiving a permanent and total disability benefit, surviving beneficiaries, and statutory survivors.Members participating in the DROP program have separate eligibility requirements related to COLA. Members retiring under normal service retirement, with less than 15 years of service credit on July 1, 2013, and members whose pension benefit became effective on or after July 1, 2013, will receive a COLA equal to a percentage of the members base pension benefit where the percentage is the lesser of three percent or the percentage increase in the consumer price index, if any, over the 12 month period that ends on the thirtieth day of September of the immediately preceding year, rounded to the nearest one-tenth of one percent.FundingPolicyTheOhioRevisedCodeprovidesstatutoryauthorityformemberandemployer contributions as follows:- 59 60 -'