SERS PICKUP. 20.01 For purposes of this Article, total annual salary and salary per pay period for each bargaining unit member shall be the salary otherwise payable under this Agreement, as amended. The total annual salary and salary per pay period of each member shall be payable by the Board in two parts: (l) deferred salary and (2) cash salary. A member’s deferred salary shall be equal to that percentage of said member’s total annual salary or salary per pay period which is required from time to time by the School Employees Retirement System (“SERS”) to be paid as an employee contribution by said member and shall be paid by the Board to SERS on behalf of said member as a “pickup” of the SERS employee contribution otherwise payable by said member. A member’s cash salary shall be equal to said member’s total annual salary or salary per pay period less the amount of the pickup for said member and shall be payable, subject to applicable payroll deductions, to said member. The Board’s total combined expenditures for members’ total annual salaries otherwise payable under this Agreement, as amended, (including pickup amounts) and its employer contributions to SERS shall not be greater than the amounts it would have paid for those items had this provision not been in effect.
SERS PICKUP. Each employee's wage shall be reduced in an amount equal to the employee's contribution to the School Employees Retirement System and paid to SERS on behalf of the employee.
SERS PICKUP. The EMPLOYER shall designate each employee's mandatory contributions to the State Employees Retirement System of Ohio as "picked up" by the EMPLOYER as contemplated by Internal Revenue Service Revenue Rulings 77-464 and 82-36, although they shall continue to be designated as employee contributions as permitted by Attorney General Opinion 82-097, in order that the amount of the employee's income reported by the BOARD as subject to Federal and Ohio income tax shall be the employee's total gross income reduced by the then-current percentage amount of the employee's mandatory State Employees Retirement System contribution which has been designated as "picked up" by the EMPLOYER, and that the amount designated as "picked up" by the EMPLOYER shall be included in computing final average earnings, provided that no employee's total earnings is increased by such "pick up", nor is the EMPLOYER's total contributions to the State employees Retirement System increased thereby.
SERS PICKUP. Effective upon ratification by the Union and approval by the Board, the Board shall designate each employee's mandatory contributions to the School Employees Retirement System of Ohio as "picked up" by the Board as contemplated by Internal Revenue Service Revenue Rulings 77- 462 and 81-36, although they shall continue to be designated as employee contributions as permitted by the Attorney General Opinion 82-097, in order that the amount of the employee's income reported by the Board as subject to Federal and Ohio income tax shall be the employee's total gross income reduced by the then-current percentage amount of the employee's mandatory School Employees Retirement System of Ohio contribution which has been designated as "picked up" by the Board shall be included in computing final average wage, provided that no employee's total wage is increased by such "pick up," nor is the Board's total contribution to the School Employees Retirement System of Ohio increased thereby.
SERS PICKUP. 33.01 For purposes of this Article, total annual pay and wages per pay period for each employee shall be the wages otherwise payable under this Agreement and applicable Board policies. The total annual pay and wages per pay period of each employee shall be payable by the Board in two parts: (1) deferred pay and (2) cash pay. An employee's deferred pay shall be equal to that percentage of said employee's total annual pay or wages per pay period which is required from time to time by the School Employees Retirement System ("SERS") to be paid as an employee contribution by said employee as a "pickup" of the SERS employee contribution otherwise payable by said employee. An employee's cash pay shall be equal to said employee's total annual total pay or wages per pay period less the amount of the pickup for said employee and shall be payable, subject to applicable payroll deductions, to said employee. The Board's total combined expenditures for employees total annual wages otherwise payable under this Agreement and applicable Board policies (including pickup amounts) and its employer contributions to SERS shall not be greater than the amounts it would have paid for those items had this provision not been in effect.
SERS PICKUP. Consistent with the provision of the Internal Revenue Service Rulings 77-461, 81-35, and 81-36, effective August 1, 1984, the Board shall pick up each employee’s mandatory contributions to the School Employees Retirement System of Ohio (SERS), provided that no employee’s total salary is increased by such pick up nor if the Board’s total contribution to SERS increased thereby. The dollar amount to be picked up by the Board:
SERS PICKUP. For purposes of this section, total annual salary and salary per pay period of each employee shall be the salary otherwise payable under this Agreement, as amended. The total annual salary and salary per pay period of each member shall be payable by the Board in two parts: (1) deferred salary and (2) cash salary. An employee's deferred salary shall be equal to that percentage of said employee's total annual salary or salary per pay period which is required from time to time by the School Employees Retirement System (S.E.R.S.) to be paid as an employee contribution by said member as a "pickup" of the S.E.R.S. employee contribution by said member otherwise payable by said employee. An employee's cash salary shall be equal to said employee's total annual salary or salary per period less the amount of the pickup for said employee and shall be payable, subject to applicable payroll deductions, to said employee The Board's total combined expenditures for employee's total annual salaries otherwise payable under this Agreement, as amended, (including pickup amounts) and its employer contributions to S.E.R.S. shall not be greater than the amounts it would have paid for those items had this provision not been in effect. The Board shall compute and remit its employer contributions to S.E.R.S. based upon total annual salary, including the "pickup". The Board shall report for Federal and Ohio income tax purposes as an employee's gross income said employee's total annual salary less the amount of the "pickup". The Board shall report for municipal income tax purposes as an employee's gross income said employee's total annual salary including the amount of the pickup. The pickup shall be included in the employee's total annual salary for the purpose of computing daily rate of pay for determining paid salary adjustments to be made due to absence, or for any other similar purpose. The pickup shall apply to all payroll payments made after the effective date of this provision. Should the Board's payment of deferred salary cause an individual Bargaining Unit Member's annuity contributions to exceed the IRS permissible level, any such individual shall have the right to adjust annuity deductions.
SERS PICKUP. Salary consists of a cash salary component and a pick-up component, which is equal to the amount of employee contribution being “picked-up” by the Board required contribution to SERS for the employee’s account.
SERS PICKUP. The Board shall designate each employee’s mandatory contributions to the State Retirement System as “picked up” by the Board as contemplated by Internal Revenue Service Revenue Rulings 77-464 and 81-86, although they shall continue to be designated as employee contributions as permitted by Attorney General Opinion 82- 097, in order that the amount of the employee’s income reported by the Board as subject to federal and state income tax shall be the employee’s total gross income reduced by the then--current percentage amount of the employee’s mandatory Retirement System contribution which has been designated as “picked up” by the Board, and that the amount designated as “picked up” by the Board shall be included in computing final average salary, provided that no employee’s total salary is increased by such “pick-up”, nor is the Board’s total contribution to the Retirement System increased thereby. The pick-up percentage shall apply uniformly to all members of the bargaining unit as a condition of employment. The pick-up shall apply to all compensation including supplemental earnings. The Board and the Association agree that should the rules and regulations of the Internal Revenue Service or the Retirement Systems change, making this procedure unworkable, the parties agree to return, without penalty, to the former method of employee/employer contributions. It is the responsibility of each individual employee to make any necessary adjustments in any other tax sheltered annuities he/she has in order to be in compliance with tax laws and regulations. The pick-up shall apply only to regular payroll and payroll requisitions.
SERS PICKUP. 1. The Treasurer of the Board shall contribute to the School Employees’ Retirement System (SERS), in addition to the Board’s required employer contribution, an amount equal to each employee’s contribution in lieu of payment to such employee. The amount contributed by the Board on behalf of the employee shall be treated as mandatory wage reduction from the hourly wage otherwise payable to such classified employee.
