Common use of SALARY REDUCTION METHOD Clause in Contracts

SALARY REDUCTION METHOD. The salary of each employee covered in this agreement shall be reduced in an amount equal to the employee's contribution either to the School Employees Retirement System (SERS) or to the State Teachers Retirement System (STRS) and paid to the respective retirement system on behalf of the employee. 1. The salary reduction method of SERS and STRS payment pickup shall apply uniformly to all employees covered in this agreement and no employee covered in this agreement shall be exempt. 2. The SERS payment pickup defined herein became effective with the first payroll check received after August 11, 1987, and shall apply to all compensation earned after this date, including regular contract and supplemental contract earnings. 3. The STRS payment pickup defined herein became effective February 1, 1985, and shall apply to all compensation earned after this date, including regular contract and supplemental contract earnings.