TRS Contributions. The Board will pick up and pay to the Illinois Teachers' Retirement System (TRS) nine and four-tenths percent (9.4%) of the teacher’s base salary. The salary amounts shown on the salary schedule in Appendix A will represent the combination of all regular salary schedule benefits payable to each teacher and all amounts picked up and paid to the TRS by the Board with regard to the appropriate salary schedule amounts for each teacher.
TRS Contributions. The board agrees to pay four percent (4%) of teacher retirement for all tenured teachers. Starting with the eleventh year (11th) of full time service with the District, the Board agreed to pay an additional one percent (1%) of a teacher’s retirement, a total of five percent (5%).
TRS Contributions. The Board will pay the sum equal to 10.37 percent (9.4 percent of creditable earnings for TRS and in addition 0.97 percent of creditable earnings for THIS), due such teacher pursuant to compensation schedules to the State of Illinois Teachers Retirement System (TRS) to be applied for the retirement account of such teacher (rather than the survivor’s annuity account). If the state changes the percentages, this section of the contract will be renegotiated. It is the intent of the parties by this agreement to qualify these payments as employer payments (employer pick up of employee contributions) under Section 414 (h) (2) of the Internal Revenue Code. The teachers have no right or claim to the funds so remitted except as they may become available from the TRS, pursuant to statute or regulation, upon retirement or resignation. The Association and each teacher will indemnify and hold harmless the Board of Education, its members, agents, and employees from any and all claims, demands, actions, complaints, suits, or other liability by reason of a faithful payment of contributions to the TRS pursuant to the provision of this section. No such claim, demand, action, or suit will be settled or compromised in any manner without the express written consent of both parties.
TRS Contributions. The Board shall remit for each teacher the full employer percentage required by law.
TRS Contributions. In addition to salary schedule appended hereto, the Board shall pick up and pay to the Illinois Teachers’ Retirement System, on behalf of each teacher, 9.0% percent of the appropriate amount shown on the salary schedule. The Board shall also pay the 1.24% of one percent the total amount of retiree health insurance contribution. In addition to the amounts stated above the Board of Education shall pay all increases in TRS and or TRIP Contributions so long as those combined increases do not exceed one percent (1%)
TRS Contributions. The Board will pay the sum equal to 9.97 percent (9.0 percent of creditable earnings for TRS and in addition 0.97 percent of creditable earnings for THIS), due such teacher pursuant to compensation schedules to the State of Illinois Teachers Retirement System (TRS) to be applied for the retirement account of such professional educator (rather than the survivor’s annuity account). It is the intent of the parties by this agreement to qualify these payments as employer payments (employer pick up of employee contributions) under Section 414 (h) (2) of the Internal Revenue Code. The professional educators have no right or claim to the funds so remitted except as they may become available from the TRS, pursuant to statute or regulation, upon retirement or resignation. The U2CT and each professional educator will indemnify and hold harmless the Board of Education, its members, agents, and employees from any and all claims, demands, actions, complaints, suits, or other liability by reason of a faithful payment of contributions to the TRS pursuant to the provision of this section. No such claim, demand, action, or suit will be settled or compromised in any manner without the express written consent of both parties.
TRS Contributions. Pursuant to Section 4l4(h) of the Internal Revenue Code, the Board will pay the first 9.4% of T.R.S. and first .88% of T.H.I.S. Any subsequent increases will be prorated at 75% paid by the Board and 25% paid by the Employee.
TRS Contributions. The Board of Education will pay as a benefit 9% of the teacher’s gross salary and forward the same to the Teacher’s Retirement System of the State of Illinois in accordance with law and the provisions of the Internal Revenue Code 414(h)(2). The Board of Education will deduct .92% or the recommended percentage from TRS for the T.H.I.S. program from the teacher’s gross salary and forward the same to the Teacher’s Retirement System of the State of Illinois in accordance with law and the provisions of the Internal Revenue Code 414(h)(2).
TRS Contributions. The Board will pay on behalf of each teacher 9.4% (actual rate 10.3753%) of his/her Illinois Teacher Retirement System contribution on each teacher’s taxable salary set out in the salary schedule and for extra duty stipends considered “creditable earnings”. The Board shall also pay on behalf of each teacher a maximum of 0.5% for each teacher’s contribution to the Teacher’s Health Insurance Security Fund, which contribution will not be reported to TRS as creditable earnings. It is the intent of the parties to qualify the payments made under this paragraph as “pick-up” contributions within the meaning of Section 414 (a)(2) of the Internal Revenue Code so as to be excludable from the gross income of all teachers. The teachers shall have no right or claim to the funds so remitted except as they may subsequently become available from TRS upon retirement or resignation of the teacher.
TRS Contributions. The Board shall pick up and pay to the Illinois Teachers Retirement System (TRS), on behalf of each teacher, the required TRS contribution from the appropriate salary shown on the salary schedule up to a maximum of 10%. Additional increases above 10% in the required amount of the TRS contribution, up to and including 13% will be the responsibility of each teacher. The Board agrees to then evenly share addition the addition of required TRS contribution above 13%. It is the intention of the parties to qualify all such payments paid by the Board on the teachers’ behalf as employer payments pursuant to Section 414(h) of the Internal Revenue Code of 1986, as amended.
