Amount of Pick Up. The BOARD shall pick up for each teacher and other bargaining unit employee a sum equal to seven percent of the amount due each such employee as set forth in this Article and in the annual salary schedules set forth in Appendix A-1A through A-1D and A-1F through A-1H (except for Appendix A-1K(i) and A-3E) for the Public School Teachers’ Pension and Retirement Fund of Chicago and the Municipal Employees’, Officers’ and Officials’ Annuity and Benefit Fund to be applied to the retirement account of each such employee (not the survivors’ annuity account).
Amount of Pick Up. With respect to the legally required employee contribution for licensed teachers of 9% of annual salary, the Employer shall pick up for each licensed teacher a sum equal to 8% of the licensed teacher’s salary for CTPF to be applied to the retirement account of each such employee (not the survivors’ annuity account). Licensed teachers shall only be responsible for the remaining 1% employee contribution, which the Employer shall make via payroll deduction.
Amount of Pick Up. With respect to any legally required employee contribution for licensed Bargaining Unit Members of 9% of annual salary, the Schools shall contribute an amount equal to 7% of each Bargaining Unit Member's base salary as the employer contribution to the CTPF. This payment is in addition to the actual salary paid to the Bargaining Unit Member (also known as the "Pension Pick Up"). Licensed Bargaining Unit Members shall only be responsible for the remaining 2% employee contribution, which the Employer shall make via payroll deduction.
Amount of Pick Up. With respect to the legally required employee contribution for licensed teachers of 9% of annual salary, Urban Prep shall pick up for each licensed teacher a sum equal to 1% for the 2021-2022 and 2022-2023 School Years and 1.5% for the 2023-2024 School Years of the licensed teacher’s salary for CTPF to be applied to the retirement account of each such employee (not the survivors’ annuity account). Licensed teachers shall only be responsible for the remaining 8% and 7.5% respectively employee contribution, which Urban Prep shall make via payroll deduction.
Amount of Pick Up. With respect to any legally required employee contribution for licensed Bargaining Unit Members of 9% of annual salary, Namaste shall contribute an amount equal to 6% of each Bargaining Unit Member's base salary as the employer contribution to the CTPF. This payment is in addition to the actual salary paid to the Bargaining Unit Member (also known as the "Pension Pick Up"). Licensed Bargaining Unit Members shall be responsible for the remaining 3% employee contribution, which Namaste shall make via payroll deduction.
Amount of Pick Up. The amount to be picked up and paid on behalf of each bargaining unit member shall equal the amount the bargaining unit member is required by STRS to pay into the bargaining unit member’s account. The bargaining unit member's annual compensation shall be reduced by an amount equal to the amount picked up and paid by the Board.
