IMRF Contributions. In addition to the annual salary stated in paragraph A.1 of this contract, the Board shall make an employer contribution to the Illinois Municipal Retirement Fund (IMRF) based on the rate set by IMRF. (Rate subject to change annually on a calendar year.) The Director is responsible for the payment of the Member Contributions. Contribution rates are set by IMRF. (Rate subject to change annually on a calendar year.) The Director does not have any right or claim to said amounts except as they may become available at the time of retirement or resignation from the Illinois Municipal Retirement Fund system. Both parties acknowledge that the Director did not have the option of choosing to receive the contributed amounts directly, instead of having such contributions paid by the Board to the Illinois Municipal Retirement Fund, and that such contributions are made as a condition of employment to secure the Director’s future services, knowledge and experience.
IMRF Contributions. In addition to the minimum starting salaries stated in Appendix B, the Board shall make a contribution on behalf of each ESP to the Illinois IMRF equal to 4.5% in lieu and in satisfaction of the Employee’s required contribution to IMRF. No Employee will have the option of choosing to receive the amounts contributed by the Board directly and the assumption and payment of the ESP’s required contributions is a condition of employment made in order to secure the Employee’s future services, knowledge, and experience.
IMRF Contributions. According to the authority granted by the Pension Reform Act of 1974-Section 414(h) (2) of the Internal Revenue Code and Public Act 81-5136.11, Revised Stat. 1981, Chapter 108 ½, Par. 7-173.2, the Board of Education agrees to pay, from the wages/salary shown on Appendix C, the full support staff member contribution to the Illinois Municipal Retirement Fund (IMRF) on behalf of each eligible support staff member as a tax sheltered direct contribution. Should any of the above be declared improper by an IRS ruling or opinion or by a court of competent jurisdiction, that clause or portion thereof shall be deleted to the extent that it violates the ruling or opinion. Any changes shall be consistent with IMRF provisions.
IMRF Contributions. The employee pays a 4.5% IMRF contribution. The Board shall pay the employers annual contribution rate determined by IMRF.
IMRF Contributions. The Board shall pick up and pay out of the educational support employee's earned compensation his/her contribution to the Illinois Municipal Retirement Fund. Contributions so picked up shall be treated as employer contributions in determining tax treatment under the United States Internal Revenue Code.
