Teacher Retirement System Contribution. The Board shall deduct and send to the Illinois Teachers' Retirement System (TRS) the percentage of each teacher's Appendix B salary, as defined and required by TRS, to be applied to the TRS retirement account of such teacher. Such contributions shall be made as a deduction from salary, not in addition to salary. The Board will also contribute 0.5 % of TRS health insurance cost. It is the intent of the parties that these contributions qualify as employer payments under Section 414(h)(2) of the Internal Revenue Code of 1986, as amended. The individual teacher shall have no right or claim to such amounts except as they become available upon retirement or resignation from TRS. The Association and each teacher agrees to indemnify and hold harmless the Board, its members, its agents, and its employees from any and all claims, demands, actions, complaints, suits, or other liability by reason of the faithful payment of contributions to TRS pursuant to the provisions of this section. Teacher compensation after deduction of the contributions at the current TRS rate of 9.4% is shown on Appendix D. The 9.4% is deducted from the teacher salaries set forth in Appendix B and is subject to change by law.
Teacher Retirement System Contribution. The Board will contribute a portion of each teacher’s salary to the Illinois Teacher’s Retirement System (TRS). This contribution is included as a part of the appropriate total amount shown for each teacher on the salary schedule, Appendix A. The total amount shown represents the combination by the Board. The Board will not be required by this agreement or otherwise to pick up and contribute any additional amounts to TRS. The amount of the contribution will be the statutory percentage as mandated by law. The individual teacher will have no right or claim to these funds except as they become available upon retirement or resignation from the Teacher’s Retirement System. Payment of any supplementary amount required by the state but not directly deposited into the teacher pension fund (i.e. Teacher Health
Teacher Retirement System Contribution. The Board shall pick up and pay for each teacher 9.4% of the teacher’s salary as defined by the Teachers’ Retirement System to the Teachers’ Retirement System of the State of Illinois to be applied for the retirement account of such teacher. It is the intent of the parties by this Agreement to qualify these payments as employer payments under Section 414(h) of the Internal Revenue Code. The teachers have no right or claim to the fund so remitted except as the funds may subsequently become available upon retirement or resignation from the Teachers’ Retirement System. Any amounts due each teacher pursuant to this Agreement shall be payable to the teacher as salary in installments as otherwise provided herein, provided the Board shall deduct there from all monies as required by law or as authorized by the teacher pursuant to this Agreement, or as otherwise authorized by the Board. Such withholding shall include any and all additional amounts required to be paid to the Teachers’ Retirement System for the account of such teacher. The HBREA and each teacher will indemnify and hold harmless the Board of Education, its members, its agents, and its employees from any and all claims, demands, actions, complaints, suits or other liability by reason of a faithful payment of contributions to the Teachers’ Retirement System pursuant to the provisions of this Section. No claim, demand, action, or suit shall be settled or compromised in any manner without the express written consent of both parties.
Teacher Retirement System Contribution. The Board agrees, in addition to the salary paid according to the salary schedule and also including any extra-duty stipends and/or overtime, the Board will pick up and pay the full employee’s contribution of salary and extra-duty stipends to the Teachers’ Retirement System in Illinois.
Teacher Retirement System Contribution. The Board shall pick up and pay for each licensed educator 9.00% of the licensed educator’s salary as defined by the Teachers’ Retirement System to the Teachers’ Retirement System of the State of Illinois to be applied for the retirement account of such licensed educator. It is the intent of the parties by this Agreement to qualify these payments as employer payments under Section 414(h) of the Internal Revenue Code. The licensed educators have no right or claim to the fund so remitted except as the funds may subsequently become available upon retirement or resignation from the Teachers’ Retirement System. Any amounts due each licensed educator pursuant to this Agreement shall be payable to the licensed educator as salary in installments as otherwise provided herein, provided the Board shall deduct there from all monies as required by law or as authorized by the licensed educator pursuant to this Agreement, or as otherwise authorized by the Board. Such withholding shall include any and all additional amounts required to be paid to the Teachers’ Retirement System for the account of such licensed educator. The HBREA and each licensed educator will indemnify and hold harmless the Board of Education, its members, its agents, and its employees from any and all claims, demands, actions, complaints, suits or other liability by reason of a faithful payment of contributions to the Teachers’ Retirement System pursuant to the provisions of this Section. No claim, demand, action, or suit shall be settled or compromised in any manner without the express written consent of both parties.
Teacher Retirement System Contribution. In addition to the salary paid to the Assistant Principal as aforesaid, the Board shall pay to the Teachers' Retirement System of the State of Illinois employee contributions required by Section 16-152 and Section 16-133.1 of the Illinois Pension Code, including contributions payable under Section 16-153 of the Illinois Pension Code for survivor's benefits, and the employee contributions required under Section 6.6 of the State Employees Group Insurance Act. Such payments shall be made by the Board in addition to the salary paid as aforesaid so that the pro-rated net salary after retirement payments shall not be less than the said salary.
