– SCHOOL EMPLOYEES’ RETIREMENT SYSTEM Sample Clauses

– SCHOOL EMPLOYEES’ RETIREMENT SYSTEM. 30.01 The Treasurer of the Board of Education shall contribute to the School Employees’ Retirement System, in addition to the Board’s required employer contribution, an amount equal to each employee’s contribution in lieu of payment to such employee. The amount contributed by the Board on behalf of the employee shall be treated as a mandatory salary reduction from the contract salary, otherwise payable to such non-certificated employee. 30.02 The total annual salary for each employee shall be the salary otherwise payable under their contract. The total annual salary shall be payable in two parts; #1 deferred salary, #2 cash salary. An employee’s deferred salary shall be equal to that percent of said employee’s total annual salary which is required by SERS to be paid as an employee. Contribution by said employee shall be paid by the Board to SERS on behalf of said employee as “pick- up” of the SERS employee contribution, otherwise payable by the employee. An employee’s cash salary shall be equal to said employee’s total annual salary less the amount of the “pick-up” for said employee and shall be payable subject to applicable payroll deductions, to said employee. 30.03 The Board’s total combined expenditure for employee’s total annual salary otherwise payable under their contract (including “pick-up” amounts) and its employer contribution to SERS shall not be greater than the amounts it would have paid for these items had this provision not been in effect. 30.04 The Board shall compute and remit its employer’s contribution to SERS based upon the total annual salary, including the “pick- up”. The Board shall report for Federal and Ohio income tax purposes as the employee’s gross income, said employee’s total annual salary less the amount of “pick-up”. The Board shall report for SERS and municipal income tax purposes as an employee’s gross income, said employee’s total annual salary including the amount of the “pick-up”. The Board shall compute income tax withholding based upon gross income as reported to the respective tax authorities. 30.05 SERS “pick-up” shall in no way affect unemployment compensation, workers’ compensation, severance payment, daily rate of pay, or any other calculation based on the adopted salary schedule. 30.06 The “pick-up” shall be a uniform percentage for all non- certificated employees, and it shall apply to all payroll payments made after the effective date after November 1, 1987, and shall not be at the individual employee’s optio...
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– SCHOOL EMPLOYEES’ RETIREMENT SYSTEM. The District will follow the rules as defined by the School Employees Retirement System in crediting retirement to employees.
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– SCHOOL EMPLOYEES’ RETIREMENT SYSTEM. In determining whether an employee subject to this Agreement is eligible for participation in the Washington State School Employees' Retirement System (SERS), the District shall report all hours worked, whether straight time, overtime, or otherwise.
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– SCHOOL EMPLOYEES’ RETIREMENT SYSTEM. Employees shall be members of the School Employees' Retirement System as required by law. The District shall report all hours worked, whether straight time, extended time or overtime, for the purpose of retirement.
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– SCHOOL EMPLOYEES’ RETIREMENT SYSTEM. 29 In determining whether an employee covered by this Agreement is eligible for participation in the 30 Washington State Public Retirement System, the District shall report all straight time and overtime hours 31 worked.
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Related to – SCHOOL EMPLOYEES’ RETIREMENT SYSTEM

  • Public Employees Retirement System “PERS”) Members.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Retirement System The withdrawal of employee contributions made on or after January 1, 2014 may also be withdrawn but only on an actuarially neutral basis. The actuarial present value of the pension reduction shall be equal to the amount of accumulated member contributions withdrawn. The actuarial present value shall computed using the interest rate used in the annual actuarial valuation and the mortality table used in the annual actuarial valuation with a 50% unisex blend.

  • Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.

  • Pre-Retirement Leave An Employee scheduled to retire and to receive a superannuation allowance under the applicable pension Acts or who has reached the mandatory retiring age, shall be entitled to: (a) A special paid leave for a period equivalent to fifty percent (50%) of his/her accumulated sick leave credit, to be taken immediately prior to retirement; or (b) A special cash payment of an amount equivalent to the cash value of fifty percent (50%) of his/her accumulated sick leave credit, to be paid immediately prior to retirement and based upon his/her current rate of pay.

  • Severance and Retirement Options (i) Where an employee resigns within 30 days after receiving notice of layoff pursuant to article 14.02 (a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of sixteen (16) weeks' pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000) dollars. (ii) Where an employee resigns later than 30 days after receiving notice pursuant to article 14.02(a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of four (4) weeks' salary, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of one thousand two hundred and fifty ($1,250) dollars. (b) Prior to issuing notice of layoff pursuant to article 14.02(a)(ii) in any classification(s), the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under HOOPP within the classification(s) in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the classification(s) who would otherwise receive notice of layoff under article 14.02(a)(ii). Within thirty (30) days from the date of notice of layoff, an employee who has received notice of layoff of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance pay on the basis of two (2) weeks’ pay for each year of service with the Hospital to a maximum of fifty-two (52) weeks on the basis of the employees normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to $1,000.00 for every year less than age 65, to a maximum of $5,000.00.

  • Retirement Program Any employee employed prior to October 1, 1977, working at least seventy (70) hours per month shall by law be a member of the Washington Public Employees Retirement system (PERS) Plan One. Any employee working at least seventy (70) hours per month, entering employment on or after October 1, 1977, shall by law be a member of the School Employees Retirement System, Plan Two or Three. The District shall provide each new employee information concerning PERS or SERS membership benefits.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Normal Retirement Normal Retirement Age under the Plan is: (Choose (a) or (b)) [X] (a) 65 [State age, but may not exceed age 65].

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

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