Common use of PERS/OPSRP Participation Clause in Contracts

PERS/OPSRP Participation. a. The College shall not withhold from faculty members’ monthly salaries the faculty member contributions/payments required by the Public Employee Retirement System (PERS) and/or Oregon Public Service Retirement Plan (OPSRP). b. The College shall “pick-up,” assume, and pay the six percent (6%) faculty member contribution for faculty members participating in PERS or OPSRP. The full amount of required faculty member contributions “picked-up” or paid by the District on behalf of faculty members pursuant to this Agreement shall be considered as “salary” for the purpose of computing a member’s “final average salary” within the meaning of the law, but shall not be considered as “salary” for the purposes of determining the amount of faculty member contributions required to be contributed. Such “picked-up” or paid faculty member contributions shall be credited to members’ accounts and shall be considered to be faculty member contributions for purpose of applicable law.

PERS/OPSRP Participation. a. The College shall not withhold from faculty members’ monthly salaries the faculty member contributions/payments required by the Public Employee Retirement System (PERS) and/or Oregon Public Service Retirement Plan (OPSRP). b. The College shall “pick-up,” assume, assume and pay the six percent (6%) faculty member contribution for faculty members participating in PERS or OPSRP. The full amount of required faculty member contributions “picked-up” or paid by the District on behalf of faculty members pursuant to this Agreement shall be considered as “salary” for the purpose of computing a member’s “final average salary” within the meaning of the law, but shall not be considered as “salary” for the purposes of determining the amount of faculty member contributions required to be contributed. Such “picked-up” or paid faculty member contributions shall be credited to members’ accounts and shall be considered to be faculty member contributions for purpose of applicable law.