Common use of PAYMENT TO TEACHERS' RETIREMENT SYSTEM Clause in Contracts

PAYMENT TO TEACHERS' RETIREMENT SYSTEM. X. Xxxxxxxx to the Contribution Rate Schedule of the State of Illinois Teachers’ Retirement System, the BOARD shall deduct and remit for each TEACHER the sum equal to the TEACHER’S salary times the Member TRS retirement contribution rate for that year times the TEACHER’S salary to be applied for the retirement account of such TEACHER (rather than the survivors’ annuity account) and the sum equal to the TEACHER’S salary times the Member THIS (insurance) contribution rate for that year times the TEACHER’S salary for the insurance contribution for the Teachers Retirement System Insurance Plan. In addition, the BOARD will deduct the Member TRS retirement contribution rate from any payments made to TEACHERS pursuant to ARTICLE XV and XVI to be applied to the retirement account of such TEACHER and the Member THIS (insurance) contribution rate for the insurance contribution to the Teachers’ Retirement System Insurance Plan. It is the intent of the parties by this Agreement to qualify these payments under Section 414(h) of the Internal Revenue Code. The TEACHERS have no right or claim to the fund so remitted except as they may subsequently become available upon retirement or resignation from the State of Illinois Teachers’ Retirement System. B. The balance of the amount due each TEACHER pursuant to such Compensation Schedule shall be payable to the TEACHER as salary in installments as otherwise provided herein, provided the BOARD shall deduct all money as required by law or as authorized by the BOARD. Such withholding shall include any and all additional amounts required to be paid to the State of Illinois Teachers’ Retirement System for the account of such TEACHERS. X. XXXXX and each TEACHER shall indemnify and hold harmless the BOARD, its members, its agents, and its employees from any and all claims, demands, actions, complaints, suits, or other liability by reason of faithful payments of contribution to the State of Illinois Teachers’ Retirement System under the provisions of this section.

PAYMENT TO TEACHERS' RETIREMENT SYSTEM. X. Xxxxxxxx to the Contribution Rate Schedule of the State of Illinois Teachers’ Retirement System, the BOARD shall deduct and remit for each TEACHER the sum equal to the TEACHER’S salary times the Member TRS retirement contribution rate for that year times the TEACHER’S salary to be applied for the retirement account of such TEACHER (rather than the survivors’ annuity account) and the sum equal to the TEACHER’S salary times the Member THIS (insurance) contribution rate for that year times the TEACHER’S salary for the insurance contribution for the Teachers Retirement System Insurance Plan. In addition, the BOARD will deduct the Member TRS retirement contribution rate from any payments made to TEACHERS pursuant to ARTICLE XV XIII and XVI XIV to be applied to the retirement account of such TEACHER and the Member THIS (insurance) contribution rate for the insurance contribution to the Teachers’ Retirement System Insurance Plan. It is the intent of the parties by this Agreement AGREEMENT to qualify these payments under Section 414(h) of the Internal Revenue Code. The TEACHERS have no right or claim to the fund so remitted except as they may subsequently become available upon retirement or resignation from the State of Illinois Teachers’ Retirement System. B. The balance of the amount due each TEACHER pursuant to such Compensation Schedule shall be payable to the TEACHER as salary in installments as otherwise provided herein, provided the BOARD shall deduct all money as required by law or as authorized by the BOARD. Such withholding shall include any and all additional amounts required to be paid to the State of Illinois Teachers’ Retirement System for the account of such TEACHERS. X. XXXXX and each TEACHER shall indemnify and hold harmless the BOARD, its members, its agents, and its employees from any and all claims, demands, actions, complaints, suits, or other liability by reason of faithful payments of contribution to the State of Illinois Teachers’ Retirement System under the provisions of this section.

PAYMENT TO TEACHERS' RETIREMENT SYSTEM. X. Xxxxxxxx From the compensation schedule, the Board shall deduct and remit for each teacher a sum equal to the Contribution Rate Schedule of amount due such teacher pursuant to the compensation schedules to the State of Illinois Teachers’ Retirement System, the BOARD shall deduct and remit for each TEACHER the sum equal to the TEACHER’S salary times the Member TRS retirement contribution rate for that year times the TEACHER’S salary System to be applied for the retirement account of such TEACHER teacher. The Board shall also deduct and remit for each teacher member contributions to TRIP (rather than Teachers’ Retirement Insurance Program) in the survivors’ annuity account) and the sum equal to the TEACHER’S salary times the Member THIS (insurance) contribution rate for that year times the TEACHER’S salary for the insurance contribution for the Teachers Retirement System Insurance Plan. In addition, the BOARD will deduct the Member TRS retirement contribution rate from any payments made to TEACHERS pursuant to ARTICLE XV and XVI to be applied to the retirement account of such TEACHER and the Member THIS (insurance) contribution rate for the insurance contribution to amount required by the Teachers’ Retirement System Health Insurance PlanSecurity Fund. It is the intent of the parties by this Agreement to qualify these employer payments under Section 414(h) of the Internal Revenue Code. The TEACHERS teachers have no right or claim to the fund funds so remitted remitted, except as they may subsequently become available upon retirement or resignation from the State of Illinois Teachers’ Retirement System. B. . No such employee shall have the option of choosing to receive the amounts contributed by the Board directly and the assumption and payment of the employee’s required contribution to the Illinois Teachers’ Retirement System and Teachers’ Health Insurance Security Fund is a condition of employment made in order to secure such employees’ future services, knowledge and experience. The balance of the amount due each TEACHER teacher pursuant to such Compensation Schedule compensation schedule shall be payable to the TEACHER teacher as salary in installments as otherwise provided herein, provided the BOARD Board shall deduct there from all money monies as required by law or as authorized by the BOARDteacher pursuant to this Agreement, or as otherwise authorized by the Board. Such withholding shall include any and all additional amounts required to be paid to the State of Illinois Teachers’ Retirement System and Teachers’ Health Insurance Security Fund. Such withholding to be effective as of the date as tax may be determined to be due. If the Internal Revenue Service, Illinois Teachers’ Retirement System or any court shall determine that such amounts are not properly excludable from the gross income of teachers for taxation purposes, the account Board shall commence to withhold Federal and State income taxes on the compensation remitted by the Board to the Illinois Teachers’ Retirement System; and the compensation remitted to Teachers’ Health Insurance Security Fund. Such withholding to be effective as of such TEACHERS. X. XXXXX the date as tax may be determined to be due. The Association and each TEACHER shall teacher will indemnify and hold harmless the BOARDBoard of Education, its members, its agents, and its employees from any and all claims, demands, actions, complaints, suits, or other liability by reason incurred on account of faithful payments the payment of contribution contributions to the State of Illinois Teachers’ Retirement System under and Teachers’ Health Insurance Security Fund pursuant to the provisions of this sectionSection. No claim, demand, action, or suit, which shall assert liability of the Board and/or the Association, shall be settled or compromised in any manner without the express written consent of the Board.

PAYMENT TO TEACHERS' RETIREMENT SYSTEM. X. Xxxxxxxx 1. The Board shall remit for each CSM the required employee contribution of the Compensation Schedule to the Contribution Rate Schedule of the State of Illinois Teachers’ Retirement System, the BOARD shall deduct and remit for each TEACHER the sum equal to the TEACHER’S salary times the Member TRS retirement contribution rate for that year times the TEACHER’S salary System to be applied for the retirement account of such TEACHER (rather than each CSM. The Board will also remit the survivors’ annuity account) and the sum equal to the TEACHER’S salary times the Member THIS (insurance) contribution rate for that year times the TEACHER’S salary for the insurance contribution for the Teachers Retirement System Insurance Plan. In addition, the BOARD will deduct the Member TRS retirement contribution rate from any payments made to TEACHERS pursuant to ARTICLE XV and XVI to be applied to the retirement account of such TEACHER and the Member THIS (insurance) contribution rate for the insurance required employee contribution to the Teachers’ Retirement System Teacher’s Health Insurance PlanSecurities (“THIS”). It is the intent of the parties by to this Agreement to qualify these payments as employer payments under Section 414(h) of the Internal Revenue Code. The TEACHERS CSM have no right or claim to the fund funds so remitted except as they may subsequently become available upon retirement or resignation from the State of Illinois Teachers’ Retirement System. B. 2. The balance of the amount due each TEACHER CSM pursuant to such Compensation Schedule shall be payable to the TEACHER CSM as salary in installments as otherwise provided herein, provided the BOARD Board shall deduct all money monies as required by law or as authorized by the BOARDCSM pursuant to this Agreement, or as otherwise authorized by the Board. Such withholding shall include any and all additional amounts required to be paid to the State of Illinois Downstate Teachers’ Retirement System for the account of such TEACHERSCSM. X. XXXXX 3. No CSM shall have the option of choosing to receive the amounts contributed by the Board directly, and the assumption and payment of CSM’s required contribution to the Illinois Teachers’ Retirement System is a condition of employment made in order to secure CSM’s future service, knowledge and experience. 4. If the Internal Revenue Service or a court shall determine that such payments by the Board are not properly excludable from income, the Board shall resume withholding of all taxes. 5. The Association and each TEACHER shall CSM will indemnify and hold harmless the BOARDBoard, its members, its agents, agents and its employees from any and all claims, demands, actions, complaints, suits, suits or other liability by reason reasons of a faithful payments payment of contribution contributions to the State of Illinois Teachers’ Retirement System under pursuant to the provisions of this Section. No claim, demand, action or suit asserting liability of the Board and/or the Association shall be settled or compromised in any manner without the express written consent of both parties. Subject to the foregoing, the Association shall bear the responsibility for any litigation that may arise pursuant to this section.

PAYMENT TO TEACHERS' RETIREMENT SYSTEM. X. Xxxxxxxx A. Pursuant to the Contribution Rate Schedule of the State of Illinois Teachers’ Retirement System, the BOARD shall deduct and remit for each TEACHER the sum equal to the TEACHER’S salary times the Member TRS retirement contribution rate for that year times the TEACHER’S salary to be applied for the retirement account of such TEACHER (rather than the survivors’ annuity account) and the sum equal to the TEACHER’S salary times the Member THIS (insurance) contribution rate for that year times the TEACHER’S salary for the insurance contribution for the Teachers Retirement System Insurance Plan. In addition, the BOARD will deduct the Member TRS retirement contribution rate from any payments made to TEACHERS pursuant to ARTICLE XV and XVI to be applied to the retirement account of such TEACHER and the Member THIS (insurance) contribution rate for the insurance contribution to the Teachers’ Retirement System Insurance Plan. It is the intent of the parties by this Agreement to qualify these payments under Section 414(h) of the Internal Revenue Code. The TEACHERS have no right or claim to the fund so remitted except as they may subsequently become available upon retirement or resignation from the State of Illinois Teachers’ Retirement System. B. The balance of the amount due each TEACHER pursuant to such Compensation Schedule shall be payable to the TEACHER as salary in installments as otherwise provided herein, provided the BOARD shall deduct all money as required by law or as authorized by the BOARD. Such withholding shall include any and all additional amounts required to be paid to the State of Illinois Teachers’ Retirement System for the account of such TEACHERS. X. C. XXXXX and each TEACHER shall indemnify and hold harmless the BOARD, its members, its agents, and its employees from any and all claims, demands, actions, complaints, suits, or other liability by reason of faithful payments of contribution to the State of Illinois Teachers’ Retirement System under the provisions of this section.

PAYMENT TO TEACHERS' RETIREMENT SYSTEM. X. Xxxxxxxx A. Pursuant to the Contribution Rate Schedule of the State of Illinois Teachers’ Retirement System, the BOARD shall deduct and remit for each TEACHER the sum equal to the TEACHER’S salary times the Member TRS retirement contribution rate for that year times the TEACHER’S salary to be applied for the retirement account of such TEACHER (rather than the survivors’ annuity account) and the sum equal to the TEACHER’S salary times the Member THIS (insurance) contribution rate for that year times the TEACHER’S salary for the insurance contribution for the Teachers Retirement System Insurance Plan. In addition, the BOARD will deduct the Member TRS retirement contribution rate from any payments made to TEACHERS pursuant to ARTICLE XV and XVI to be applied to the retirement account of such TEACHER and the Member THIS (insurance) contribution rate for the insurance contribution to the Teachers’ Retirement System Insurance Plan. It is the intent of the parties by this Agreement to qualify these payments under Section 414(h) of the Internal Revenue Code. The TEACHERS have no right or claim to the fund so remitted except as they may subsequently become available upon retirement or resignation from the State of Illinois Teachers’ Retirement System. B. The balance of the amount due each TEACHER pursuant to such Compensation Schedule shall be payable to the TEACHER as salary in installments as otherwise provided herein, provided the BOARD shall deduct all money as required by law or as authorized by the BOARD. Such withholding shall include any and all additional amounts required to be paid to the State of Illinois Teachers’ Retirement System for the account of such TEACHERS. X. XXXXX and each TEACHER shall indemnify and hold harmless the BOARD, its members, its agents, and its employees from any and all claims, demands, actions, complaints, suits, or other liability by reason of faithful payments of contribution to the State of Illinois Teachers’ Retirement System under the provisions of this section.

PAYMENT TO TEACHERS' RETIREMENT SYSTEM. X. Xxxxxxxx to the Contribution Rate Schedule of the State of Illinois Teachers’ Retirement System, the BOARD a. The Board shall deduct and remit for each TEACHER the sum equal Teacher a portion of such Teacher's compensation due such Teachers pursuant to the TEACHER’S salary times Compensation Schedule (Article XII, Appendices A, B and C, Compensation Schedules) of this Agreement to the Member TRS retirement contribution rate for that year times the TEACHER’S salary Teachers' Retirement System to be applied for the retirement account of such TEACHER Teachers. During the term of this Agreement, this portion shall be nine percent (rather than the survivors’ annuity account9%) and the sum equal to the TEACHER’S salary times the Member THIS plus three-quarter percent (insurance3/4%) contribution rate for that year times the TEACHER’S salary for the insurance contribution for the Teachers Retirement System Insurance Plan. In addition, the BOARD will deduct the Member TRS retirement contribution rate from any payments made to TEACHERS pursuant to ARTICLE XV and XVI to be applied to the retirement account of such TEACHER and the Member THIS (insurance) contribution rate for the insurance contribution to the Teachers’ Retirement System Insurance Plan. It is the intent of the parties TRIP or as adjusted by this Agreement to qualify these payments under Section 414(h) of the Internal Revenue Codelaw. The TEACHERS Teachers have no right or claim to the fund moneys so remitted except as they it may subsequently become available upon retirement or resignation from the State of Illinois Teachers’ ' Retirement System. B. b. The balance of the amount due each TEACHER Teacher, pursuant to such Compensation Schedule Schedule, shall be payable to the TEACHER Teacher as salary in installments as otherwise provided herein, provided the BOARD Board shall deduct there from all money moneys as required by law or as authorized by the BOARDTeacher pursuant to this Agreement. Such withholding shall include any and all additional amounts required requested to be paid to the State of Illinois Teachers’ ' Retirement System for the account of such TEACHERSTeacher. X. XXXXX c. In the event the Internal Revenue Service or a court or the Illinois Bureau of Revenue indicates any or all of the amounts paid to the Teachers' Retirement System is/are properly inexcludable in the gross income of the Teacher for taxation purposes, the Board will commence to withhold Federal and State income taxes on that portion of the Teacher's income which has been ruled inexcludable in his/her gross income. d. The Association and each TEACHER shall Teacher will defend, indemnify and hold harmless the BOARDBoard, its members, its agents, agents and its employees from any and all claims, demands, actions, complaints, suits, suits or other liability liabilities by reason of faithful payments payment of contribution the contributions to the State of Illinois Teachers’ ' Retirement System under pursuant to the provisions of this sectionSection. No such claim, demand, action, or complaint, or suit may be settled or compromised by the Association or any Teacher without written consent of the Board, if such claim, demand, action, complaint or suit adversely affects the Board, its members, its agents and/or its employees.

PAYMENT TO TEACHERS' RETIREMENT SYSTEM. X. Xxxxxxxx A. Pursuant to the Contribution Rate Schedule of the State of Illinois Teachers’ Retirement System, the BOARD shall deduct and remit for each TEACHER the sum equal to the TEACHER’S salary times the Member TRS retirement contribution rate for that year times the TEACHER’S salary to be applied for the retirement account of such TEACHER (rather than the survivors’ annuity account) and the sum equal to the TEACHER’S salary times the Member THIS (insurance) contribution rate for that year times the TEACHER’S salary for the insurance contribution for the Teachers Retirement System Insurance Plan. In addition, the BOARD will deduct the Member TRS retirement contribution rate from any payments made to TEACHERS pursuant to ARTICLE XV and XVI to be applied to the retirement account of such TEACHER and the Member THIS (insurance) contribution rate for the insurance contribution to the Teachers’ Retirement System Insurance Plan. It is the intent of the parties by this Agreement to qualify these payments under Section 414(h) of the Internal Revenue Code. The TEACHERS have no right or claim to the fund so remitted except as they may subsequently become available upon retirement or resignation from the State of Illinois Teachers’ Retirement System. B. The balance of the amount due each TEACHER pursuant to such Compensation Schedule shall be payable to the TEACHER as salary in installments as otherwise provided herein, provided the BOARD shall deduct all money as required by law or as authorized by the BOARD. Such withholding shall include any and all additional amounts required to be paid to the State of Illinois Teachers’ Retirement System for the account of such TEACHERS. X. C. XXXXX and each TEACHER shall indemnify and hold harmless the BOARD, its members, its agents, and its employees from any and all claims, demands, actions, complaints, suits, or other liability by reason of faithful payments of contribution to the State of Illinois Teachers’ Retirement System under the provisions of this section.