Teacher’s Retirement System and Health Insurance Security Fund. In addition to the salary provided herein, the Board shall pay the retirement contribution to the Illinois Teachers Retirement System and the Teachers' Health Insurance Security Fund (THIS) contribution. Both parties acknowledge that the Assistant Principal does not have the option of choosing to receive the contributed amounts directly, instead of having such contributions paid by the Board to the State of Illinois TRS, and that such contributions are made as a condition of employment to secure the Assistant Principal’s future services, knowledge, and experience.
Teacher’s Retirement System and Health Insurance Security Fund. The annual salary stated in paragraph A.1 of this Contract includes the payment by the Board on behalf of the Assistant Principal of his required contributions to the Teachers’ Retirement System of Illinois (TRS) and the Teachers’ Health Insurance Security Fund (“THIS”). The Assistant Principal shall not have any right or claim to said amounts contributed by the Board on his behalf, except as they may become available at the time of retirement or resignation from the TRS and THIS. Both Parties acknowledge that the Assistant Principal did not have the option of choosing to receive the contributed amounts directly, instead of having such contributions paid by the Board to the TRS and THIS, and further acknowledge that such contributions are made as a condition of employment to secure the Assistant Principal’s future services, knowledge and experience.
Teacher’s Retirement System and Health Insurance Security Fund. In addition to the annual salary stated in paragraph A.1 of this Contract, the Board shall pay on behalf of the Director to the Teachers’ Retirement System of Illinois (“TRS”) and the Teachers’ Health Insurance Security Fund (“THIS”) the Director’s required contributions to said pension system and health fund. The Director shall not have any right or claim to said amounts, except as they may become available at the time of retirement or resignation from the State of Illinois Teachers' Retirement System and the Teacher Health Insurance Security Fund. Both Parties acknowledge that the Director did not have the option of choosing to receive the contributed amounts directly, instead of having such contributions paid by the Board to the TRS and THIS, and further acknowledge that such contributions are made as a condition of employment to secure the Director’s future services, knowledge and experience.
Teacher’s Retirement System and Health Insurance Security Fund. The annual salary stated in paragraph A.1 of this Contract includes the payment by the Board on behalf of the Athletic Director of his required contributions to TRS and the Teachers’ Health Insurance Security Fund (“THIS”). The Athletic Director shall not have any right or claim to said amounts contributed by the Board on his behalf, except as they may become available at the time of retirement or resignation from the TRS and THIS. Both Parties acknowledge that the Athletic Director did not have the option of choosing to receive the contributed amounts directly, instead of having such contributions paid by the Board to the TRS and THIS, and further acknowledge that such contributions are made as a condition of employment to secure the Athletic Director’s future services, knowledge and experience.
Teacher’s Retirement System and Health Insurance Security Fund. The annual salary stated in paragraph A.1 of this Contract includes the payment by the Board on behalf of the Director of her required contributions on creditable earnings to the State of Illinois Teachers’ Retirement System (“TRS”) and the Teachers’ Health Insurance Security Fund (“THIS”). As such, contributions for TRS and THIS will be salary-reduced from the salary set forth in paragraph A.1 and contributed by the Board to TRS and THIS on behalf of the Director. The Director shall not have any right or claim to said amounts contributed by the Board on her behalf, except as they may become available at the time of retirement or resignation from the TRS and THIS. Both Parties acknowledge that the Director did not have the option of choosing to receive the contributed amounts directly, instead of having such contributions paid by the Board to the TRS and THIS, and further acknowledge that such contributions are made as a condition of employment to secure the Director’s future services, knowledge and experience
Teacher’s Retirement System and Health Insurance Security Fund. In addition to the annual base salary stated in paragraph A.1 of this Contract, the Board shall pay on behalf of the Superintendent her required contributions (“Member Contributions”) to the State of Illinois Teachers' Retirement System (“TRS”) and the Teacher Health Insurance Security Fund (“THIS”). The Superintendent shall not have any right or claim to said amounts contributed by the Board on her behalf, except as they may become available at the time of retirement or resignation from the TRS and THIS. Both Parties acknowledge that the Superintendent did not have the option of choosing to receive the contributed amounts directly, instead of having such contributions paid by the Board to the TRS and THIS, and further acknowledge that such contributions are made as a condition of employment to secure the Superintendent's future services, knowledge and experience. The Parties acknowledge that the Superintendent may be subject to the pensionable earnings cap under Section 401(a)(17) of the Internal Revenue Code. In order to achieve a cost-neutral impact of such cap, the Board shall make a non- elective contribution to the Superintendent’s 403(b) plan in an amount equal to the money the Board would have paid to TRS under this paragraph on the TRS creditable earnings which exceed the Section 401(a)(17) cap. The payment shall be made in a single lump-sum payment no later than June 30 of each Contract Year. The Superintendent has not and shall not have the option to receive this contribution in cash.
Teacher’s Retirement System and Health Insurance Security Fund. In addition to the annual salary stated in paragraph A.1 of this Contract, the Governing Boards shall pay on behalf of the Superintendent to the State of Illinois Teachers' Retirement System (“TRS”) and the Teacher Health Insurance Security Fund (“THIS”) the Superintendent’s required contributions on creditable earnings to the pension system and health fund. The Superintendent shall not have any right or claim to these amounts, except as they may become available at the time of retirement or resignation from the TRS and THIS. Both parties acknowledge that the Superintendent did not have the option of choosing to receive the contributed amounts directly, instead of having such contributions paid by the Boards to the TRS and THIS, and further acknowledge that such contributions are made as a condition of employment to secure the Superintendent's future services, knowledge and experience. The Superintendent does not have the right to receive payment for any amounts that would have been contributed to the TRS or THIS by the Boards on his behalf had the Superintendent’s required contributions not been limited by TRS or THIS due to the application of the established limit for contributions to the pension plan or due to a refund of an overpayment of contributions because of a decrease in the applicable member rate, if any.
Teacher’s Retirement System and Health Insurance Security Fund. The annual salary stated in Paragraphs A.1 and A.3 of this Contract include payments to be deducted and remitted by the Board on behalf of the Assistant Principal of his required member contributions to the TRS and Teachers’ Health Insurance Security Fund (“THIS”). The Assistant Principal shall not have any right or claim to said amounts, except as they may become available at the time of retirement or resignation from the TRS and THIS. Both Parties acknowledge that the Assistant Principal did not have the option of choosing to receive the contributed amounts directly, instead of having such contributions paid by the Board to the TRS and THIS, and further acknowledge that such contributions are made as a condition of employment.
Teacher’s Retirement System and Health Insurance Security Fund. In addition to the annual salary stated in paragraph A.1 of this contract, the Board shall pay on behalf of the Administrator to the State of Illinois Teachers’ Retirement System and the Teachers’ Health Insurance Security Fund the Administrator’s required contributions to said pension system and health fund. Notwithstanding the foregoing, the Board shall pick up any increase in the Administrator’s contribution rate in a given year only to the extent it will not cause the Administrator’s total TRS reportable earnings to increase by more than 6% over the prior year. The Administrator shall not have any right or claim to said amounts, except as they may become available at the time of retirement or resignation from the State of Illinois Teachers’ Retirement System and the Teachers’ Health Insurance Security Fund. Both parties acknowledge that the Administrator did not have the option of choosing to receive the contributed amounts directly, instead of having such contributions paid by the Board to the Teachers’ Retirement System and Teachers’ Health Insurance Security Fund, and further acknowledge that such contributions are made as a condition of employment to secure the Administrator’s future services, knowledge, and experience.
Teacher’s Retirement System and Health Insurance Security Fund. In addition to the annual salary and other compensation stated in this Contract, the Board shall pick up and pay on behalf of the PRINCIPAL his/her required member contributions on all creditable earnings to the State of Illinois Teachers’ Retirement System (“TRS”) and the Teachers’ Health Insurance Security Fund (“THIS”). The PRINCIPAL shall not have any right or claim to these amounts, except as they may become available at the time of retirement or resignation from the TRS and THIS. Both parties acknowledge that the PRINCIPAL did not have the option of choosing to receive the contributed amounts directly instead of having such contributions paid by the Board to the TRS and THIS, and further acknowledge that such contributions are made as a condition of employment to secure the PRINCIPAL's future services, knowledge and experience. Except as provided in this paragraph, the PRINCIPAL does not have the right to receive payment for any amounts that would have been contributed to the TRS or THIS by the Board on his/her behalf had the PRINCIPAL’s required contributions not been limited by TRS or THIS due to the application of an established limit for contributions to the pension plan or due to a refund of an overpayment of contributions because of a decrease in the applicable member rate, if any. However, if legislation is enacted after the effective date of this Contract that limits the employer’s ability to perform its obligations under this paragraph, the Board shall pay the difference to the PRINCIPAL as salary to the extent the Board’s total cost for salary and pick up of the TRS and THIS contribution equals the Board’s total cost before enactment of such legislation. The implementation of the payment referenced herein shall be in implementation of this provision of this Contract and shall not constitute or require an amendment to this Contract.
