Common use of STRS Contributions Clause in Contracts

STRS Contributions. The Board shall pay the employer's share of the State Teachers Retirement Systems ("STRS") contributions as required by law. In addition, unless otherwise prohibited by state law, the Board shall "pick-up" (pay directly) the employee's share of Superintendent's total retirement contribution to the STRS on behalf of Superintendent, plus all retirement contributions on this picked-up amount. During the term of this Agreement, to the extent permitted by law, this pick-up shall be a condition of Superintendent's employment in the District and shall not be at Superintendent's option. Such pick-up shall be a fringe-benefit of the entire amount of the employee contribution that Superintendent is required to contribute to STRS, based upon the salary reported to STRS as provided in this Agreement. The amount of the fringe-benefit pick-up in this Agreement shall be considered compensation of the Superintendent, and unless otherwise prohibited by state law, the Board shall pay both the employer and employee's contributions to STRS on the amount of the fringe-benefit pick-up ("pick-up on the pick-up"). At any time following the execution of this Agreement, should either pick-up or pick- up on the pick-up by the Board be prohibited by state law, the Board and Superintendent agree to meet to discuss how to replace the loss of this contractual benefit for the remaining term of this Agreement.