Common use of BOARD TAX SHELTERING OF EMPLOYEE’S SERS CONTRIBUTION Clause in Contracts

BOARD TAX SHELTERING OF EMPLOYEE’S SERS CONTRIBUTION. 4:05.1 The Treasurer of the Board shall contribute to the School Employees Retirement System (SERS), in addition to the Board’s required employer contribution, an amount equal to each employee’s contribution in lieu of payment to such employee. The amount contributed by the Board on behalf of the employee shall be treated as a mandatory salary reduction from the contract salary otherwise payable to such classified employees.