Common use of Retirement Fund Contribution Clause in Contracts

Retirement Fund Contribution. Beginning with the teacher work day on April 1, 1991, the dollar amount reflected in the salary schedule, extracurricular salaries, and to the extent allowable by law the retirement and severance pay, includes the 3% Indiana State Teacher Retirement Fund contribution which the Board shall make on behalf of each teacher. Therefore each individual teacher’s regular contract shall be reduced by an amount equal to 3% of the teacher total pay.

Retirement Fund Contribution. Beginning with the teacher work day workday on April 1, 1991, the dollar amount reflected in the salary schedule, extracurricular salaries, and to the extent allowable by law the retirement and severance pay, includes the 3% Indiana State Teacher Retirement Fund contribution which the Board shall make on behalf of each teacher. Therefore Therefore, each individual teacher’s regular contract shall be reduced by an amount equal to 3% of the teacher total pay.