Payroll Deductions to Purchase/Restore Retirement Service Credit. 1. Teachers may continue to purchase or restore STRS service credit through the current after tax payroll deduction plan. Teachers may revoke payroll deduction authorization of this plan at any time. 2. Teachers may also purchase or restore STRS service credit through a tax deferred payroll deduction plan. Any teacher who wishes to purchase or restore STRS credit through this plan must enter into a binding irrevocable payroll deduction authorization and such teacher shall not have the option of choosing to receive the amounts directly instead of having them paid by the employer to STRS. These deductions from salary are designated as being picked up by the employer and paid by the employer in accordance with Internal Revenue Code requirements. DocuSign Envelope ID: 22C4B649-47B2-43A6-94B5-1EF2E9B1A864
Appears in 4 contracts
Samples: Professional Agreement, Professional Agreement, Professional Agreement
