STRS Sers Pick Up Clause Samples

STRS Sers Pick Up. 101 The Treasurer of the Board shall contribute to the State Teachers' Retirement System (STRS) or State Employees Retirement System (SERS), whichever is appropriate, in addition to the Board's required member contribution, an amount equal to each member’s contribution in lieu of payment to such member. The amount contributed by the Board on behalf of the member shall be treated as a mandatory salary reduction from the salary otherwise payable to such certified member.

STRS Sers Pick Up. The Board agrees with the Association to pick up (assume and pay) contributions to the State Teachers Retirement System and the State Employees Retirement System upon behalf of the members in the bargaining unit on the following terms and conditions:

STRS Sers Pick Up. The Board of Education's automatic "pick-up" of the bargaining unit member's portion of the retirement system salary contribution through the salary reduction/reinstatement method will continue for the duration of this Agreement. The Board of Education will not deduct federal or state taxes on the amount of the member's contribution to the retirement system, and appropriate notations will be made on the member's W-2 form. The amount designated as "picked up" by the Board of Education shall be included in computing the employee's daily rate for the purpose of sick leave conversion upon retirement, provided however, that no employee's total gross income shall be increased by such "pick up" nor shall the Board of Education's total contribution to the STRS/SERS be increased thereby. This procedure shall remain in effect so long as the revenue rulings permit such "pick-up" and it is otherwise legal.

STRS Sers Pick Up. The Board will pick-up (assume and pay) contributions to the State Teachers Retirement System, or State Employees Retirement System whichever is applicable, upon behalf of the employees in the bargaining unit on the following terms and conditions: 1. The amount to be picked-up and paid on behalf of each employee shall be the full amount of the employee's contribution toward STRS, or SERS. The employee's annual compensation shall be reduced by an amount equal to the amount picked-up and paid by the Board. 2. The pick-up percentage otherwise required for all members of the bargaining unit contributing to STRS, or SERS shall apply uniformly to all such members of the bargaining unit. 3. No employee covered by this provision shall have the option to elect a wage increase or other benefit in lieu of the employer pick-up. The Board Treasurer will prepare and distribute an addendum to each employee's contract which states: 1. That the employee's contract salary consists of: a. A cash salary component and b. A pick-up component, which is equal to the amount of the employee's contribution being "picked-up" by the Board on behalf of the employee; 2. That the Board will contribute to STRS, or SERS an amount equal to the employee's otherwise required contribution to STRS, or SERS for the account of each employee; and 3. That sick leave, severance, vacation, supplemental, extended service pay, insurance benefits or any other pay or benefit which are indexed to or otherwise determinable by reference to the employee's rate of pay shall be calculated upon both the cash salary component and pick-up component of the employee's restated salary. All subsequent contracts and salary notices for those affected employees will include the provisions of the above addendum.

STRS Sers Pick Up. The Board shall pick-up the applicable STRS and SERS employee contributions for all unit members utilizing the salary/wage reduction method subject to legal conditions and procedures.

STRS Sers Pick Up. The Board agrees to the “Pick-Up” system (non-pay 10.0% SERS, non-pay 11% STRS) of contributions to the State Teachers Retirement System or the School Employees Retirement System, whichever is applicable. 1. The Board shall compute and remit all applicable contributions to STRS/SERS based upon annual salary and/or earned compensation which includes the amount of the “pick-up” computed herein. 2. The “pick-up” percentage shall apply uniformly to all bargaining unit members, and no employee covered by this provision shall have the option to elect a wage increase or other benefit in lieu of the employer “pick-up”. 3. The present “pick-up” system (non-pay 10.0% SERS, non-pay 11% STRS) that is in effect will remain in effect during the life of this contract. 4. For IRS purposes only, annual compensation listed on the W-2 form shall be the bargaining unit member’s annual compensation reduced by 10.0 % (currently).

STRS Sers Pick Up. The Board agrees with the Association to pick up (assume and pay) contributions to the State Teachers Retirement System and the State Employees Retirement System upon behalf of the members in the bargaining unit on the following terms and conditions: A. An amount equal to 3% of the members total contribution will be picked up and paid on behalf of each bargaining unit member B. The board shall compute and remit 3% of all applicable contributions to STRS and SERS based upon annual salaries and any other earned compensation. C. The pick-up percentage shall apply uniformly to all members of the bargaining unit and no member covered by this provision shall have the option to elect a wage or benefit in lieu of the employer pick up. D. Said pick-up shall not result in any additional cost to the Board. E. The pick-up shall become effective upon the signing of this agreement.

STRS Sers Pick Up