Common use of BOARD PICKUP OF EMPLOYEE CONTRIBUTIONS TO STRS Clause in Contracts

BOARD PICKUP OF EMPLOYEE CONTRIBUTIONS TO STRS. A. For purpose of this section, the total annual salary per pay period for each bargaining unit member shall be the salary otherwise payable under this agreement and their contracts. The total annual salary and salary per pay period of each bargaining unit member shall be payable by the Board in two parts: (1) deferred salary and (2) cash salary. A bargaining unit member's deferred salary shall be equal to that percentage of said bargaining unit member's total annual salary or salary per pay period which is required from time to time by the State Teachers Retirement System (STRS) to be paid as a bargaining unit member contribution by said member and shall be paid by the Board to STRS on behalf of said members as follows: Pickup on Pickup Salary Reduction (Assume & Paid by Board) 2016-17 3% Balance of Member's Contribution and to continue thereafter B. The Board shall compute and remit its bargaining unit member contributions to STRS based upon total annual salary, including the "pickup." The Board shall report for federal and state income tax purposes as a bargaining unit member's gross income said member's total annual salary less the amount of the "pickup." The Board shall report for municipal income tax purposes as a bargaining unit member's gross income said member's total annual salary, including the amount of the "pickup." The Board shall compute income tax withholding based upon gross income as reported to the respective taxing authorities. C. The Treasurer shall implement the provisions of this section effective July 1, 2016, and shall apply to all compensation including supplemental earnings beginning with the first pay period for the 2016-17 contract(s). D. Board pickup shall terminate immediately if deemed illegal by a court of competent jurisdiction or by the Internal Revenue Service. E. The Board shall compute and remit all applicable contributions to STRS based upon annual salary and/or earned compensation which includes the amount of the pickup computed therein. F. The pickup percentage shall apply uniformly to all employees of the bargaining unit and no employee covered by this provision shall have the option to elect a wage increase or other benefit in lieu of the employer pickup. G. The salary schedule will be used for the purpose of computing the daily rate of pay, for determining paid salary adjustments to be made due to absences, and for all other purposes of compensation.

BOARD PICKUP OF EMPLOYEE CONTRIBUTIONS TO STRS. A. For purpose of this section, the total annual salary per pay period for each bargaining unit member shall be the salary otherwise payable under this agreement and their contracts. The total annual salary and salary per pay period of each bargaining unit member shall be payable by the Board in two parts: (1) deferred salary and (2) cash salary. A bargaining unit member's deferred salary shall be equal to that percentage of said bargaining unit member's total annual salary or salary per pay period which is required from time to time by the State Teachers Retirement System (STRS) to be paid as a bargaining unit member contribution by said member and shall be paid by the Board to STRS on behalf of said members as follows: Pickup on Pickup Salary Reduction (Assume & Paid by Board) 2016-17 3% Balance of Member's Contribution and to continue thereafter B. The Board shall compute and remit its bargaining unit member contributions to STRS based upon total annual salary, including the "pickup." The Board shall report for federal and state State income tax purposes as a bargaining unit member's gross income said member's total annual salary less the amount of the "pickup." The Board shall report for municipal income tax purposes as a bargaining unit member's gross income said member's total annual salary, including the amount of the "pickup." The Board shall compute income tax withholding based upon gross income as reported to the respective taxing authorities. C. The Treasurer shall implement the provisions of this section effective July 1, 2016, 2016 and shall apply to all compensation including supplemental earnings beginning with the first pay period for the 2016-17 contract(s). D. Board pickup shall terminate immediately if deemed illegal by a court of competent jurisdiction or by the Internal Revenue Service. E. The Board shall compute and remit all applicable contributions to STRS based upon annual salary and/or earned compensation which includes the amount of the pickup computed therein. F. The pickup percentage shall apply uniformly to all employees of the bargaining unit and no employee covered by this provision shall have the option to elect a wage increase or other benefit in lieu of the employer pickup. G. The salary schedule will be used for the purpose of computing the daily rate of pay, for determining paid salary adjustments to be made due to absences, and for all other purposes of compensation.