SERS PICK-UP. A. For purposes of this Article, total annual salary and salary per pay period for each member shall be the salary otherwise payable under this Agreement, as amended. The total annual salary and salary per pay period of each member shall be payable by the Board in two parts: (1) deferred salary and (2) cash salary. A member’s deferred salary shall be equal to that percentage of said member’s total annual salary or salary per pay period which is required from time to time by the State Employment Retirement System (“SERS”) to be paid as an employee contribution by said member and shall be paid by the Board to SERS on behalf of said member as a “pickup” of the SERS employee contribution otherwise payable by said member. A member’s cash salary shall be equal to said member’s total annual salary or salary per pay period less the amount, subject to applicable payroll deductions, to said member. The Board’s total combined expenditures for members’ total annual salaries otherwise payable under this Agreement, as amended, (including pickup amounts) and its employer contributions to SERS shall not be greater than the amounts it would have paid for those items had this provision not been in effect.
B. The Board shall fulfill its income tax reporting and withholding responsibilities for each employee in such manner as is required by applicable federal, state and local laws and regulations as they may exist at the time of such reporting and withholding, it being the Board’s understanding that federal and Ohio income tax laws and regulations presently require it to report as an employee’s gross income his/her total annual salary less the amount of the pick-up while applicable municipal income tax laws require it to report as an employee’s gross income his/her total annual salary including the amount of the pick-up.
C. The pickup shall be included in the member’s hourly rate for the purpose of computing hourly rate, overtime rate, for determining pay adjustments to be made due to absence, or for any other similar purpose.
D. Should the Internal Revenue Service determine that the deferred salary would be treated as current taxable income for federal income tax purposes, this section will be void and inoperable.
SERS PICK-UP. The SERS pick-up will utilize the salary reduction method. The Board shall designate each employee's mandatory contributions to the School Employees Retirement System of Ohio as "pick-up" by the Board as suggested by Internal Revenue Rulings 82-36 and 77-462, which means that employee contributions need not be included in gross income for tax purposes. Therefore, the amount of the employee's income reported by the Board as subject to federal and Ohio income tax shall be the employee's total gross income reduced by the then-current percentage amount of the employee's mandatory School Employees Retirement System contribution. The pick-up percentage shall apply uniformly to all members of the bargaining unit as a condition of employment. The pick-up shall apply to all compensation paid to a member of the bargaining unit.
1. The parties agree that, should the rules and regulations of the IRS or retirement system change, making this procedure unworkable, the parties agree to return, without penalty, to the former method of employee/employer contributions.
2. Payment for sick leave, personal leave, and severance, including unemployment and workers' compensation, shall be based on the employee's daily gross pay prior to reduction.
3. It is the responsibility of each individual employee to make necessary adjustments in any other tax-sheltered annuities he/she has in order to be in compliance with IRS laws and regulations.
4. The Board is not liable, nor will it be held responsible for any related legal, IRS, SERS, or any other agencies' penalties or decisions concerning this plan now or in the future.
5. The Association agrees to indemnify and save the Board harm against any and all claims that shall arise out of or by reason of any action taken by the Board in compliance with provisions of this Article.
SERS PICK-UP. The Board agrees to pick-up (assume and pay) contributions to the State Employees Retirement System (SERS) on behalf of the bargaining unit member at no additional cost to the Board as follows:
1. The amount to be picked-up and paid on behalf of each bargaining unit member shall be equal to that assessed by SERS of the bargaining unit member's compensation. The bargaining unit member's annual compensation shall be reduced by an amount equal to the amount picked-up and paid by the Board;
2. The pick-up percentage shall apply uniformly to all bargaining unit members;
3. No bargaining unit member covered by this provision shall have the option to elect a wage increase or other benefit in lieu of the employer pick-up; and
4. The pick-up shall apply to all compensation including supplemental earnings.
SERS PICK-UP. 32.01 Consistent with the provisions of Internal Revenue Service Ruling 77-42, 81-35 and 81-36, effective October 1, 1983, the Board shall pick-up each classified employee's mandatory contributions to the School Employees Retirement System of Ohio (SERS) provided that no classified employee's total compensation is increased by such pick-up nor is the Board's total contribution to SERS increased. The dollar amount to be "picked-up" by the Board:
(a) shall equal the then current percentage amount of the above mentioned employee's mandatory SERS contribution;
(b) shall be credited by SERS as employee contributions under authority of Ohio Attorney General Opinion 82-097.
(c) shall be included in computing final average salary;
(d) shall not be reported by the Board as subject to current federal and state income taxes;
(e) shall be reported by the Board as subject to city income taxes;
(f) shall not affect the calculation of the above-mentioned employee's daily rate of pay for any purpose whatsoever, including making salary adjustments because of absence, calculating severance pay, or in reporting the above-mentioned employee's authorized credit information to financial institutions.
SERS PICK-UP. Consistent with current practice, there will be Board pick-up of SERS via uniform salary reduction per SERS guidelines.
SERS PICK-UP. A. The Grandview Heights Board of Education herewith agrees to "pick-up", utilizing the salary reduction method, contributions to the State Employees Retirement System of Ohio paid upon behalf of the Members of the Bargaining Unit under the following terms and conditions:
1. The amount to be "picked-up" on behalf of each Member of the Bargaining Unit shall be the amount required to be contributed by the SERS of the employee's gross annual compensation. The employee's annual compensation shall be reduced by an amountequal to the amount "picked-up" by the Board for the purpose of State and Federal taxonly.
2. The pick-up percentage shall apply uniformly to all Members of the Bargaining Unit as a condition of employment.
3. The pick-up shall apply to all compensation.
4. The parties agree that should the rules and regulations of IRS, or retirement system change, making this procedure unworkable, the parties agree to return, withoutpenalty, to the former method of employee/employer contributions.
5. Payment of sick leave, personal leave, severance and supplementals, including unemployment and worker's compensation, shall be based on the employee's dailygross pay prior to reduction as basis (e.g., gross pay divided by the number of days inthe employee's contract).
B. The amount designated as "pick-up", by the Board shall be included in computing final averagesalary, provided that the employee's total salary is not increased by such "pick-up", or if the Board's total contribution to the State Employees Retirement System of Ohio increased thereby.
SERS PICK-UP. 1. Consistent with the provisions of Internal Revenue Service Ruling 74-462, 81-35, and 81-36, the Board shall pick-up each employee's mandatory contributions to the State Employees Retirement System (SERS), provided that no employee's total wage is increased by such pick-up nor is the Board's total contribution to SERS increased thereby.
2. The dollar amount to be designated as "picked-up" by the Board:
a. shall equal the then-current percentage amount of the employee's mandatory SERS contribution;
b. shall be credited by SERS as employee contributions under authority of Ohio Attorney General Opinion 82-097;
c. shall be included in computing final average wage;
d. shall not be reported by the Board as subject to current federal and state income taxes;
e. shall be reported by the Board as subject to city income taxes;
f. shall not be included in the calculation of an employee's daily rate of pay for any purpose whatsoever, including making salary adjustments because of absence, calculating severance pay, or in reporting employee authorized credit information to financial institutions.
SERS PICK-UP. A. The Southeast Local Board, herewith, agrees to "pick-up" (assume and pay) contributions to the School Employees' Retirement System (SERS) upon behalf of the employees in the bargaining unit on the following terms and conditions:
1. The amount to be "picked-up" and paid on behalf of each employee shall equal the amount he/she is required by SERS to pay into his/her account. The employee's annual compensation shall be reduced by an amount equal to the amount "picked-up" and paid by the Board of Education.
2. The "pick-up" percentage shall apply uniformly to all members of the bargaining unit.
3. No employee covered by this provision shall have the option to elect a wage increase or other benefit in lieu of the employer "pick-up."
4. The "pick-up" shall apply to all compensation, including supplemental earnings thereafter.
5. It is anticipated that the Internal Revenue Service will treat this contribution "pick-up" by the employer as the employer contributions for annuity contracts. In the event, however, the Internal Revenue Service requires payment of taxes on the amount paid by the employer on behalf of the employee, the responsibility for payment of the taxes shall rest with the individual employee.
SERS PICK-UP. 35.1 The Board agrees to continue to treat a unit member’s own individual SERS contribution (as opposed to the Board’s own SERS contribution on the employee’s behalf) as a mandatory salary reduction from the contract salary otherwise payable to such unit member.
35.2 The unit member’s contract salary shall thus be restated:
A. As consisting of:
1. a cash salary component and
2. a pick-up component, which is equal to the amount of the unit member’s contribution being picked up by the Board on behalf of the unit member.
B. That the Board will contribute to SERS an amount equal to the unit member’s required contribution to SERS for the account of each unit member and;
C. That sick leave, severance, vacation, supplemental, and extended service pay and insurance benefits which are indexed to or otherwise determinable by reference to the unit member’s rate of pay shall be calculated upon both the cash salary component and pick-up component of the unit member’s restated salary.
SERS PICK-UP. 23.01 The Board agrees with the Union to implement the SERS “pickup” utilizing the salary reduction method of contributions to the School Employees Retirement System paid upon the behalf of the Employees in the bargaining unit, at no cost to the Board, under the following terms and conditions:
A. The amount of “pickup” on behalf of each Employee will be at the current SERS rate of the Employee’s gross annual compensation. The Employee’s annual compensation will be reduced at no cost to the Board by an amount equal to the amount of the “pickup” by the Board for the purpose of State and Federal tax only.
B. The “pickup” percentage will apply uniformly to all members of the bargaining unit as a condition of employment.
C. No Employee covered by this provision will have the option of electing a wage increase or other benefit in lieu of the employer “pickup”.
D. Payment for all paid leaves, sick leave, personal leave, and severance, including Unemployment and Worker’s Compensation, shall be based on the Employee’s daily gross pay prior to reduction as basis (e.g., gross pay divided by the number of hours worked).
23.02 Each Employee will be responsible for compliance with the Internal Revenue Service’s Salary Exclusion Allowance Regulations with respect to the “pickup” in combination with other tax deferred compensation plans.
23.03 If the foregoing “pickup” provisions are nullified by subsequent Internal Revenue Service Rulings, Ohio Attorney General Opinions, or other governing regulations, the Board will be held harmless and this Article of the Agreement shall be declared null and void. The Board will then return to the former method of employer/employee retirement system contributions as soon as necessary.
