Retirement System Payments.
A. A certain percentage of each Professional Staff Member's salary shall be withheld for payment to the proper retirement system.
B. The BOARD shall contribute a certain percentage of the Professional Staff Member's annual salary to the Teachers' Retirement System for all Professional Staff Members.
C. Percentages for both contributions are subject to change by the Retirement System Board or Ohio Revised Code.
D. The BOARD agrees to provide a Tax Deferment Plan on Professional Staff Members contributions to S.T.R.
Retirement System Payments. A. A certain percentage of each employee's salary shall be withheld for payment to the proper retirement system.
B. The BOARD shall contribute a certain percentage of the employee's annual salary to the School Employees Retirement System (SERS) for all classified employees.
C. Percentages for both contributions are subject to change by the Retirement System.
D. The BOARD agrees to provide a Tax Deferment Plan on employees contributions to SERS. It is understood that it is the responsibility of the individual employee to make any necessary adjustments in any other tax-sheltered annuities he/she has in order to be in compliance with IRS laws and regulations. The BOARD is not liable nor will it be held responsible for any legal IRS, SERS, or any other agency's penalties or decisions concerning this plan now or in the future.
E. The BOARD will provide payroll deduction for purchase of SERS credit if the employee has elected the tax-deferred option.
Retirement System Payments. A. Contributions on behalf of members participating in the basic MPSERS or the optional state retirement program (MIP), provided under authority of the MPSERS, shall be made by FSU pursuant to the Michigan Public School Employees’ Retirement Act, as amended.
B. FSU shall pay into the retirement account of a member participating in the FSU Tax- Deferred Annuity Plan (TIAA-CREF, Fidelity Investments or other Fund Sponsor) an amount equal to ten (10%) percent of the member’s gross pay per pay period.
C. Members participating in the FSU Tax-Deferred Annuity Plan (TIAA-CREF, Fidelity Investments or other Fund Sponsor) shall pay four (4%) percent of her/his earnings into her/his retirement account. Such payment is to be made by salary reduction on a pre-tax basis.
Retirement System Payments. A. Contributions on behalf of Members participating in the basic MPSERS or the optional state retirement program (MIP), provided under authority of the MPSERS, shall be made by the Employer pursuant to the Michigan Public School Employees' Retirement Act, as amended.
B. The Employer shall pay into the retirement account of a Member participating in the FSU Tax-Deferred Annuity Plan (TIAA-CREF or other Fund Sponsor) twelve percent (12%) of the Member’s earnings as a Member.
Retirement System Payments. The Board shall remit for each teacher the ITRS percentage of 9.4%/ITRS Factor 0.103753 Illinois Teachers’ Retirement System (ITRS) contribution including increases up to 0.2% (or up to 9.6%) for the term of this Agreement.
Retirement System Payments. The Board shall deduct from each teacher’s salary the member share of the required Illinois Teachers’ Retirement System (ITRS) contribution and remit to ITRS on behalf of each teacher.
Retirement System Payments. The District represents to County that no retirement system benefits are to be accrued by the execution of this Agreement.
Retirement System Payments. 1. Contributions on behalf of members participating in the basic MPSERS or the optional state retirement program (MIP), provided under authority of the MPSERS, shall be made by the University pursuant to the Michigan Public School Employees’ Retirement Act, as amended.
2. The University shall pay into the retirement account of a member participating in the University Tax-Deferred Annuity Plan (TIAA-CREF, Fidelity Investments or other Fund Sponsor) an amount equal to Ten percent (10%) of the member’s gross pay per pay period.
3. Members participating in the University Tax-Deferred Annuity Plan (TIAA-CREF, Fidelity Investments or other Fund Sponsor) shall pay Four percent (4%) of his/her earnings into his/her retirement account. Such payment is to be made by salary reduction on a pre-tax basis.
Retirement System Payments. A certain percentage of each Professional Staff Member's salary shall be withheld for payment to the proper retirement system. The BOARD shall contribute a certain percentage of the Professional Staff Member's annual salary to the Teachers' Retirement System for all Professional Staff Members. Percentages for both contributions are subject to change by the Retirement System Board or Ohio Revised Code. The BOARD agrees to provide a Tax Deferment Plan on Professional Staff Members contributions to STRS It is understood that it is the responsibility of the individual Professional Staff Member to make any necessary adjustments in any other tax-sheltered annuities they have in order to be in compliance with IRS laws and regulations. The BOARD is not liable, nor will it be held responsible for any legal IRS, STRS or other agencies' penalties or decisions concerning this plan now or in the future. The BOARD will tax defer all monies for Professional Staff Members who use payroll deductions for payments to purchase STRS.
Retirement System Payments. Certified Staff Beginning with the 2016-17 school term, on behalf of the certified staff member, the Board shall remit no greater than nine percent (current ITRS factor; .098091) of the certified staff member’s creditable earnings, to the Illinois Teachers’ Retirement System (ITRS). This amount equals the entire employee contribution during the 2016-17 school term.
