Common use of Board Pickup of Employee Contributions to the State Teachers Retirement System (Salary Reduction Clause in Contracts

Board Pickup of Employee Contributions to the State Teachers Retirement System (Salary Reduction. Restatement) In accordance with Internal Revenue Service Rulings 77- 462, 81- 35, and 81-36, the PEA and the Board agree that beginning with the January 4, 1985 pay, the Board shall contribute to the State Teachers Retirement System, in addition to the Board's required employer contribution, an amount equal to each employee's contribution to the State Teachers Retirement System in lieu of payment of said amount to each employee and that such amount contributed by the Board on behalf of the employee shall be treated as a mandatory salary reduction from the contract salary or hourly rate otherwise payable to each employee. The Board shall continue the pickup of 0.7% of the additional STRS contribution for the duration of this agreement 9/1/18 to 8/31/21..

Board Pickup of Employee Contributions to the State Teachers Retirement System (Salary Reduction. Restatement) In accordance with Internal Revenue Service Rulings 77- 462, 81- 35, and 81-36, the PEA and the Board agree that beginning with the January 4, 1985 pay, the Board shall contribute to the State Teachers Retirement System, in addition to the Board's required employer contribution, an amount equal to each employee's contribution to the State Teachers Retirement System in lieu of payment of said amount to each employee and that such amount contributed by the Board on behalf of the employee shall be treated as a mandatory salary reduction from the contract salary or hourly rate otherwise payable to each employee. The Board shall continue the pickup of 0.7% of the additional STRS contribution for the duration of this agreement 9/1/18 9/1/16 to 8/31/21..8/31/18.