Retirement Payments to STRS and SERS Sample Clauses

Retirement Payments to STRS and SERS. During the period of the leave, the bargaining unit member may contribute or purchase service to the State Teachers Retirement System (STRS) and/or School Employees Retirement System (SERS) as provided by Ohio Revised Code Sections 3307.512 and 3309.27.
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Retirement Payments to STRS and SERS a. During the period of the leave, the bargaining unit member may contribute or purchase service to STRS and/or SERS as provided by Ohio Revised Code Sections 3307.512 and 3309.27. In order to take a Parental Leave, the member shall reimburse the Board for the amount of its contributions for any service credit so purchased according to the following schedule: Years of Experience In the District Percentage of Reimbursement Less than 2 Years 100% 3 Years 50% 4 Years 25% 5 or More Years 0%
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Related to Retirement Payments to STRS and SERS

  • Incentive Payments The Settlement Fund Administrator will treat incentive payments under Section IV.F on a State-specific basis. Incentive payments for which a Settling State is eligible under Section IV.F will be allocated fifteen percent (15%) to its State Fund, seventy percent (70%) to its Abatement Accounts Fund, and fifteen percent (15%) to its Subdivision Fund. Amounts may be reallocated and will be distributed as provided in Section V.D.

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