CONTRIBUTIONS TO STRS Sample Clauses
CONTRIBUTIONS TO STRS. The Board shall assume and pay, or pick up, the mandatory employee contributions to STRS required for all STRS participants, subject to the provisions of this section, in lieu of payment of those contributions by said members.
CONTRIBUTIONS TO STRS. The Board agrees with the Association to pick up (assume and pay) contributions to the State Teachers Retirement System on behalf of the members in the bargaining unit on the following terms and conditions:
A. An amount equal to 2% of the member’s total contribution will be picked up and paid on behalf of each bargaining unit member.
B. The board shall compute and remit all applicable contributions to STRS based upon annual salaries and any other earned compensation.
C. The pick-up percentage shall apply uniformly to all members of the bargaining unit and no member covered by this provision shall have the option to elect a wage or benefit in lieu of the employer pick up.
D. Said pick-up shall not result in any additional cost to the Board.