Common use of Teacher’s Retirement System and Health Insurance Security Fund Clause in Contracts

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 Superintendent to the State of Illinois Teachers’ Retirement System and the Teacher Health Insurance Security Fund, an amount up to 8% of the Superintendent’s required contributions to said pension system and health fund. The Superintendent 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 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 Teachers’ Retirement System and the Teacher Health Insurance Fund, and further acknowledge that such contributions are made as a condition of employment to secure the Superintendent’s future services, knowledge, and experience.

Teacher’s Retirement System and Health Insurance Security Fund. In addition to From the annual base salary stated in paragraph A.1 of this Contractcontract, the Board shall deduct and pay on behalf of the Superintendent to the State of Illinois Teachers’ ' Retirement System (TRS) and the Teacher Health Insurance Security Fund, an amount up to 8% of Fund (THIS) the Superintendent’s required contributions to said the pension system and health fundfund on all reportable earnings. The Superintendent shall not have any right or claim to said these 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 FundTRS or 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 Teachers’ Retirement System TRS and the Teacher Health Insurance FundTHIS, and further acknowledge that such contributions are made as a condition of employment to secure the Superintendent’s future services, knowledge, 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 Superintendent Director to the State of Illinois Teachers’ Retirement System of Illinois (“TRS”) and the Teacher Teachers’ Health Insurance Security Fund, an amount up to 8% of Fund (“THIS”) the SuperintendentDirector’s required contributions to said pension system and health fund. The Superintendent 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 Parties acknowledge that the Superintendent 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 Teachers’ Retirement System TRS and the Teacher Health Insurance FundTHIS, and further acknowledge that such contributions are made as a condition of employment to secure the SuperintendentDirector’s future services, knowledge, 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 Contractcontract, the Board shall pay and remit on behalf of the Superintendent Administrator to the State of Illinois Teachers’ Retirement System and the Teacher Teachers’ Health Insurance Security Fund, an amount up to 8% of Fund the SuperintendentAdministrator’s required contributions to said pension system and health fund. The Superintendent 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 Teacher Health Insurance Security Fund. Both parties acknowledge that the Superintendent 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 the Teacher Health Insurance Security Fund, and further acknowledge that such contributions are made as a condition of employment to secure the SuperintendentAdministrator’s future services, knowledge, knowledge and experience.