Common use of Board Retirement Clause in Contracts

Board Retirement. From the established Salary Schedule of Creditable Earnings (Appendix I) and the Additional Pay Schedule (Appendix II), the Board of Education has agreed to pay the Teachers' Retirement System on behalf of each teacher the full amount of the teacher's contribution to the Teachers' Retirement System. The Board will continue to pay TRS from future established salary schedules, on behalf of each teacher, the pension from the teacher's respective scheduled earnings. Should any of the above be declared improper by an IRS ruling or opinion, that clause or portion thereof shall be deleted from the Agreement to the extent that it violates the ruling or opinion. Retirement amounts shall be withheld from the stated amounts in Appendices I and II.

Board Retirement. From the established Salary Schedule of Creditable Earnings (Appendix I) and the Additional Pay Schedule (Appendix II), the Board of Education has agreed to pay the Teachers' Retirement System on behalf of each teacher the full amount of the teacher's contribution to the Teachers' Retirement System. The Board will continue to pay TRS from future established salary schedules, on behalf of each teacher, the pension from the teacher's respective scheduled earnings. Should any of the above be declared improper by an IRS ruling or opinion, that clause or portion thereof shall be deleted from the Agreement to the extent that it violates the ruling or opinion. Retirement amounts shall be withheld from the stated amounts in Appendices I and II.shall