Retirement Programs. 44.1 Members of the Bargaining Unit shall participate in the State Teachers Retirement System of Ohio, R.C. Chapter 3307, or the Alternative Retirement Plan (ARP), R.C. Chapter 3305, with eligibility and contributions as determined by regulations of said retirement systems. The election of whether to participate in STRS or, in the alternative the ARP, is irrevocable and cannot be changed while the Bargaining Unit member is employed at Central State University. 44.2 The Administration and Bargaining Unit members will pay the contribution rate currently in effect under law for the duration of this Agreement. The contribution rates on the effective date of this Agreement were: STRS: University 14.0% Bargaining Unit Member 14.0% ARP: University 14.0% minus the required payment to STRS for the unfunded liability Bargaining Unit Member 14.0%
Appears in 3 contracts
Sources: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement