Common use of Pension Pick-up Clause in Contracts

Pension Pick-up. The Township will maintain a fringe benefit "pick-up" of the member contribution to the Public Employees Retirement System (Law Enforcement) (hereinafter referred to as "PERS-LE") under the following terms and conditions: A. The amount to be picked up on behalf of each member shall be five and one tenth percent (5.1%) of the member’s earned compensation. The member shall pay any increase beyond the percentage maximum for which the Township is responsible. B. Picked-up member contributions shall be designated as Public Employee Contributions to PERS-LE and shall be in lieu of statutorily required contributions to PERS-LE by each member. C. The provisions of this pension "pick-up" plan shall apply uniformly to all members, and no member shall have the option to elect a wage increase or other benefit in lieu of the payment provided for herein. The Township will, in reporting and making remittance to the PERS-LE, report that each member's contribution has been made as provided by statute. D. The sums to be paid hereunder by the Township on behalf of the member are not to be considered additional salary or wages and are not to be treated as increased compensation. For purposes of computing a member's earnings or basis of a member's contributions to the PERS-LE, the amount paid by the Township on behalf of the member as such member's statutory obligation is intended to be and would be considered as having been paid by the member in fulfillment, whether in whole or in part, as the case may be, of the member's statutory obligation.

Pension Pick-up. The Township will maintain a fringe benefit "pick-up" of the member contribution to the Public Employees Retirement System (Law Enforcement) (hereinafter referred to as "PERS-LE") under the following terms and conditions: A. The amount to be picked up on behalf of each member shall be five and one tenth percent (5.1%) of the member’s earned compensation. The member shall pay any increase beyond the percentage maximum for which the Township is responsible. B. Picked-up member contributions shall be designated as Public Employee Contributions to PERS-LE and shall be in lieu of statutorily required contributions to PERS-LE by each member. C. The provisions of this pension "pick-up" plan shall apply uniformly to all members, and no member shall have the option to elect a wage increase or other benefit in lieu of the payment provided for herein. The Township will, in reporting and making remittance to the PERS-LE, report that each member's contribution has been made as provided by statute. D. The sums to be paid hereunder by the Township on behalf of the member are not to be considered additional salary or wages and are not to be treated as increased compensation. For purposes of computing a member's earnings or basis of a member's contributions to the PERS-LE, the amount paid by the Township on behalf of the member as such member's statutory obligation is intended to be and would be considered as having been paid by the member in fulfillment, whether in whole or in part, as the case may be, of the member's statutory obligation. E. The parties further agree that a member's salary for purposes of (1) determining the contribution base for contributions to the PERS-LE and (2) determining any sick leave, severance, vacation, disability pay and any other benefits which are determined by reference to the member's rate of pay, shall consist of only the member's cash salary as set forth in Section 15.1, of this Agreement, without regard to the amount of the contribution to PERS-LE paid by the Township in lieu of payment by the member pursuant to this Article 16.

Pension Pick-up. Section 1. Pension Pick-Up. The Township will maintain a fringe benefit continue to "pick-up" that portion of the member contribution to the Public Employees Retirement System Police and Firefighters Disability and Pension Fund (Law Enforcement) (hereinafter referred to as the "PERS-LEFund") under the following terms and conditions: A. The amount which is equal to be picked up on behalf of each member shall be five and one tenth ten percent (5.110%) of the member’s 's earned compensation. The compensation through the fringe benefit method, and the remainder, if any, of the member shall pay any increase beyond contribution to the percentage maximum for which the Township is responsible. B. Picked-up member contributions Fund shall be designated as Public Employee Contributions to PERS-LE and shall be in lieu of statutorily required contributions to PERS-LE paid by each the member. C. . The provisions of this pension "pick-up" plan shall apply uniformly to all members, members and no member shall will have the option to elect a wage increase or other benefit in lieu of the payment provided for herein. The Township will, in reporting and making remittance to the PERS-LEFund, report that each member's contribution has been made as provided by statute. D. . The sums proposed to be paid hereunder by the Township on behalf of the member are not to be considered additional salary or wages and are not to be treated as increased compensation. For purposes of computing a the member's earnings or basis of a member's his contributions to the PERS-LEFund, the amount paid by the Township on behalf of the member as such member's statutory obligation obligation, is intended to be and would be considered as having been paid by the member in fulfillment, whether in whole or in part, as the case may be, of the member's statutory obligation. The parties further agree that a member's salary for purposes of (1) determining the contribution base for contributions to the Fund, and (2) determining any sick leave, severance, vacation, disability pay and any other benefits which are determined by reference to the Member's rate of pay, shall consist of only the member's cash salary as set forth in Article 14, Section 1, of this Agreement, without regard to the amount of contribution to the Fund paid by the Township in lieu of payment by the member pursuant to this Article 15. The parties agree that if this pick-up is disapproved by the Fund, the Internal Revenue Service, or other applicable governmental authority, then the parties will revert to the previous employer/employee method of contributions to the Fund, and this Article 15 may be reopened by either party for the purpose of renegotiating this Article. To exercise this option, a party shall give written notice to the other, by either certified mail or personal delivery, of its desire to renegotiate this Article. In the case of a renegotiation, the parties shall, unless otherwise agreed in writing, follow the time frames and procedures established for "initial negotiations" set forth in Ohio Revised Code 4117.14. It is acknowledged and understood that the Township has made no representations as to the effects of this pension pick-up on any member's retirement benefits or level of taxable income.