SERS PICK-UP WITH REDUCTION Sample Clauses

SERS PICK-UP WITH REDUCTION. The Board herewith agrees with the Association to pick up (assume and pay) contributions to the School Employees Retirement System on behalf of the individuals in the bargaining unit with the following terms and conditions:
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SERS PICK-UP WITH REDUCTION. The Board shall designate each employee’s mandatory contributions to the State Employees Retirement System of Ohio as “picked-up” by the Board as contemplated by Internal Revenue Service Ruling 77-464 and 81-36, although they shall continue to be designated as employee contributions as permitted by Attorney General Opinion 82-097, in order that the amount of the employee’s income reported by the Board as subject to Federal and Ohio Income Tax shall be the employee’s income reported by the then current percentage amount of the employee’s mandatory State Bus Driver’s Retirement System’s contribution which has been designated as picked-up by the Board, and that the amount designated as pick-up by the Board shall be included in computing final average salary, provided that no employee’s total salary is increased by such “pick-up,” nor is the Board’s total contribution to the State Employees Retirement System of Ohio increased.
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SERS PICK-UP WITH REDUCTION. Annuitization of the entire employee's share of retirement shall be as follows: The Alliance Board of Education shall designate each employee's mandatory contributions to the School Employees Retirement System of Ohio as "picked up" by the Board as interpreted by Internal Revenue Service Rulings 77-462 and 81-36. Contributions "picked up" shall continue to be designated as employee contributions as permitted by Attorney Generals Opinion 82-097. In order that the amount of the employee's income reported by the Board as subject to Federal and Ohio income tax shall be the employee's total gross income reduced by the then-current percentage amount of the employee's mandatory School Employees Retirement System contribution which has been designated as "picked-up" by the Board, and that the amount designated as "picked-up" by the Board shall be included in computing final average salary, provided that no employee's salary is increased by such "pick-up", nor is the Board's total contribution to the School Employees Retirement System of Ohio increased thereby. The Board herewith agrees with the Association to pick-up (assume and pay) contributions to the school employees retirement system upon behalf of the individuals in the bargaining unit on the following terms and condition:
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SERS PICK-UP WITH REDUCTION. A. Annuitization of the employee’s share of retirement shall be as follows:
Sample 1
SERS PICK-UP WITH REDUCTION. The Board herewith agrees with the Association to pick up (assume and pay) contributions to the School Employees Retirement System (SERS) upon behalf of the employees in the bargaining unit on the following terms and conditions: The amount to be picked up and paid on behalf of each such employee shall be nine (9.00) percent or the current percentage of the employee's compensation as established by the School Employees Retirement System. The employee's annual compensation shall be reduced by an amount equal to the amount picked up and paid by the Board. This pick up shall not result in any expenditure of funds by the Board.
Sample 1

Related to SERS PICK-UP WITH REDUCTION

  • WORKFORCE REDUCTION In the event that funding reductions or shortfalls in funding occur in a department or are expected, which may result in layoffs, the department will notify the union and take the following actions:

  • Staff Reduction In the event the District adopts a reduced educational program by reason of financial necessity, including but not limited to, levy failure and/or decreased State or Federal support, certificated employees who will be retained to implement the District’s reduced or modified program and those certificated employees who will be non-renewed from employment or adversely affected in contract status shall be identified by the provisions contained in this Article. If the District is only reducing provisional employees, the following procedures do not need to be implemented.

  • Reduction in scope of agreement for fault 19.1.1 If the Grantee does not comply with an obligation under this Agreement and the Commonwealth believes that the non‐compliance is incapable of remedy, or if the Grantee has failed to comply with a notice to remedy, the Commonwealth may by written notice reduce the scope of the Agreement.

  • REDUCTION IN FORCE It is understood and agreed that in addition to the above designated and related duties, full-time professional staff shall participate fully in the activities of institutional councils and/or committees. The employment status of the Employee shall be as follows: Executive/Managerial Appointment , not subject to tenure. Professional/Managerial Appointment , not subject to tenure. Other conditions of Employment:

  • REDUCTION IN STAFF 15.1 Procedure According to provisions of Missouri Statute 168.124, the Board of Education may place on leave of absence as many teachers as necessary because of decrease in enrollment, school district reorganization, or financial conditions. Whenever the Board anticipates a reduction in teaching staff, the superintendent or his/her designee will notify the officials of the Association concerning the anticipated reduction in the teaching staff. A meeting between the Association officials and the superintendent or his/her designee will be scheduled for purposes of discussing the proposed reduction in staff within two weeks (2) following the above notification. Individual teachers will not be contacted prior to the above meeting. In placing teachers on leave, the Board shall be governed by the following provisions:

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