Common use of SERS PICK-UP Clause in Contracts

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 SERS pick-up will utilize the salary reduction method. The Board shall designate each employee's mandatory contributions to the School State Employees Retirement System of Ohio as "pick-up" by the Board as suggested contemplated by Internal Revenue Service Rulings 77-464 and 81-36, although they shall continue to be designated as employee contributions as permitted by Attorney General Opinion 82-36 and 77-462097, which means in order 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 thenten-current percentage amount of the employee's mandatory School State Employees Retirement System contribution. contribution which has been designated as "picked-up" by the Board shall be included in computing final average salary, provided that no employee's total salary is increased by such "pick-up", nor is the Board's total contribution to the State Employees Retirement System increased thereby. A. 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 unitincluding supplemental earnings thereafter, if any. 1. B. The parties agree that, should the rules and regulations of the IRS or retirement system change, change making this procedure unworkable, the parties agree to return, without penalty, to the former method of employee/employer contributions. 2. C. Payment for sick leave, personal leave, severance and severancesupplementals, including unemployment and workers' worker's compensation, shall be based on the employee's daily gross pay prior to reductionthe reduction as basis (e.g., gross pay divided by the number of days in an employee's contract). 3. D. Such salary reduction shall be considered when combined with actual salary to not result in a salary which is less than the salary available under the State minimum salary schedule. E. It is understood that it is the responsibility of each individual employee to make necessary adjustments adjustment(s) in any other tax-sheltered annuities he/she has in order to be in compliance with IRS laws and regulations. 4. F. 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. G. The Association agrees to indemnify and save the Board harm harmless 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 the Article.

SERS PICK-UP. The SERS pick-up will utilize the salary reduction method. The Board employer shall designate each employee's mandatory contributions to the School State Employees Retirement System of Ohio as "pickpicked-up" by the Board employer as suggested contemplated by Internal Revenue Service Rulings 77-464 and 81-36. However, such contributions shall continue to be designated as employee contributions as permitted by Attorney General Opinion 82-36 and 77-462097, which means in order 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-then current percentage amount of the employee's mandatory School State Employees Retirement System contributioncontribution which has been designated as "picked-up" by the employer. Such contributions shall be included in computing final average earnings, provided that no employee's total earnings shall be increased by such "pick-up," nor is the employer's total contribution to the State Employees Retirement System increased thereby. A. 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 unitthereafter. 1. B. The parties agree that, that should the rules and regulations of the IRS IRS, or retirement system change, change making this procedure unworkable, the parties agree to return, without penalty, to the former method of employee/employer contributions. 2. C. Payment for sick leave, personal leave, leave and severance, including unemployment and workers' compensation, shall be based on the employee's daily gross pay prior to reductionreduction as basis (e.g., gross pay divided by the number of days scheduled to work). 3. D. Such earnings reductions shall not result in any earnings which may be less than any minimum required under state law, a pro rata reduction shall result with the employee contributing that portion which falls below such minimum as may be required by state law. E. It is to be understood by the parties that it is the responsibility of each individual employee to make any necessary adjustments in any other tax-tax sheltered annuities he/he or she has in order to be in compliance with IRS laws and regulations. 4. F. The Board employer is not liable, nor will it be held responsible responsible, for any related legal, IRS, SERS, or any other agencies' ’ penalties or decisions concerning this plan now or in the future. 5. G. The Association agrees to indemnify and save the Board harm harmless against any and all claims that shall arise out of of, or by reason of of, any action taken by the Board in compliance with the provisions of this the Article.

SERS PICK-UP. 1. The SERS Board agrees to implement the State Employees Retirement System (SERS) “pick-up will utilize up” utilizing the salary reduction method. The Board shall designate each employee's mandatory method of contributions to the School Employees Retirement System SERS paid upon behalf of Ohio as "pickthe employees in the bargaining unit, at no cost to the Board, under the following terms and conditions: a. The amount to be “picked-up" ” on behalf of each employee shall be the current rate required by Section 3309.47 of the Ohio Revised Code which sets forth the employees required contribution. The employee’s annual compensation shall be reduced, at no cost to the Board, by an amount equal to the amount “picked-up” by the Board as suggested by Internal Revenue Rulings 82-36 for the purpose of State and 77-462, which means that employee contributions need not be included in gross income for Federal 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. only. b. The pick-up percentage shall apply uniformly to all members of the bargaining unit as a condition of employment. The . c. 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 shall apply to all compensation paid to a member of the bargaining unitup.” 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. d. Payment for all paid leaves, sick leave, personal leave, and severance, severance including unemployment and workers' compensation, ’ compensation shall be based on the employee's ’s daily gross pay prior to reductionreduction as basis (e.g., gross pay divided by the number of hours worked). 2. Each employee will be responsible for compliance with Internal Revenue Service salary exclusion allowance regulations with respect to the “pick-up” in combination with other tax deferred compensation plans. 3. It is If the responsibility foregoing “pick-up” 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 each individual employee to make necessary adjustments in any other tax-sheltered annuities he/she has in order to the Agreement shall be in compliance with IRS laws declared null and regulations. 4void. 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 shall then return to the futureformer method of employer/employee retirement system contributions as soon as necessary. 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 SERS pick-up will utilize the salary reduction method. The Board employer shall designate each employee's mandatory contributions to the School State Employees Retirement System of Ohio as "pickpicked-up" by the Board employer as suggested contemplated by Internal Revenue Service Rulings 77-464 and 81-36. However, such contributions shall continue to be designated as employee contributions as permitted by Attorney General Opinion 82-36 and 77-462097, which means in order 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-then current percentage amount of the employee's mandatory School State Employees Retirement System contributioncontribution which has been designated as "picked-up" by the employer. Such contributions shall be included in computing final average earnings, provided that no employee's total earnings shall be increased by such "pick-up," nor is the employer's total contribution to the State Employees Retirement System increased thereby. A. 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 unitthereafter. 1. B. The parties agree that, that should the rules and regulations of the IRS IRS, or retirement system change, change making this procedure unworkable, the parties agree to return, without penalty, to the former method of employee/employer contributions. 2. C. Payment for sick leave, personal leave, leave and severance, including unemployment and workers' compensation, shall be based on the employee's daily gross pay prior to reductionreduction as basis (e.g., gross pay divided by the number of days scheduled to work). 3. D. Such earnings reductions shall not result in any earnings which may be less than any minimum required under state law, a pro rata reduction shall result with the employee contributing that portion which falls below such minimum as may be required by state law. E. It is to be understood by the parties that it is the responsibility of each individual employee to make any necessary adjustments in any other tax-tax sheltered annuities he/he or she has in order to be in compliance with IRS laws and regulations. 4. F. The Board employer is not liable, nor will it be held responsible responsible, for any related legal, IRS, SERS, or any other agencies' ’ penalties or decisions concerning this plan now or in the future. 5. G. The Association agrees to indemnify and save the Board harm harmless against any and all claims that shall arise out of of, or by reason of of, any action taken by the Board in compliance with the provisions of this the Article.

SERS PICK-UP. The SERS pick-up will utilize the salary reduction method. The Board shall designate each employee's ’s mandatory contributions to the School Employees Retirement System of Ohio as "pick-up" “picked-­‐up” by the Board Board. This action will be as suggested contemplated by Internal Revenue Rulings 82-36 Service Ruling 77-­‐464 and 77-46281-­‐36, which means that although such pick-­‐up shall continue to be designated as employee contributions need not be included as permitted by Attorney General Opinion 82-­‐097, in gross income for tax purposes. Therefore, order that the amount of the employee's ’s income reported by the Board as subject to federal Federal and Ohio income tax shall be the employee's ’s total gross income reduced by the then-then current mandated percentage amount of the contribution. No employee's mandatory ’s total salary shall be increased by such pick-­‐up, nor shall the Board’s total contribution to the School Employees Retirement System contributionbe increased thereby. This action shall be subject to the following stipulations: A. The pick-up pick-­‐up percentage shall apply uniformly to all members of the bargaining unit as a condition of employment. The pick-up pick-­‐up shall apply to all compensation paid to a member of the bargaining unitincluding supplemental earnings thereafter. 1. B. The parties agree that, should the rules rule and regulations of the IRS or retirement system changeSchool Employees Retirement System, change making this procedure unworkable, the parties agree to return, without penalty, to the former method of employee/employer contributions. 2. C. Payment for sick leave, personal leave, severance and severancesupplementals, including unemployment and workers' ’ compensation, shall be based on the employee's ’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. D. The Board is not liable, nor nor, will it be held responsible responsible, for any related legal, IRS, SERS, or any other agencies' ’ penalties or decisions concerning this plan plan, now or in the future. 5. E. The Association agrees Union, and its bargaining unit members, both severally and individually agree to indemnify and save hold the Board harm harmless against any and all claims and actions that shall arise out of or by reason of any action taken by the Board in compliance with the provisions of this Article.

SERS PICK-UP. A. The Board agrees with the Union to implement the SERS "pick-up will utilize up" utilizing the salary reduction method. The Board shall designate each employee's mandatory method of contributions to the School State Employees Retirement System effective November 1, 1985, paid upon behalf of Ohio as the employees in the bargaining unit, at no cost to the Board, under the following terms and conditions. 1. The amount to be "pickpicked-up" on behalf of each employee shall be equal to the employee's required contribution to the SERS. The employee's annual compensation shall be reduced at no cost to the Board by an amount equal to the amount "picked-up" by the Board as suggested by Internal Revenue Rulings 82-36 for the purpose of state and 77-462, which means that employee contributions need not be included in gross income for federal 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 contributiononly. 2. The pick-up percentage shall apply uniformly to all members of the bargaining unit as a condition of employment. 3. The 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 shall apply to all compensation paid to a member of the bargaining unitup. 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. 24. Payment for all paid leaves, sick leave, personal leave, and severance, severance including unemployment and workers' compensation, xxxxxxx'x compensation shall be based on the employee's daily gross pay prior to reductionreduction as bases (e.g. gross pay divided by the number of hours worked). 3. It is the responsibility of each individual B. Each employee to make necessary adjustments in any other tax-sheltered annuities he/she has in order to will be in responsible for compliance with IRS laws and regulationsInternal Revenue Service Salary exclusion allowance regulations with respect to the "pick-up" in combination with other tax deferred compensation plans. 4C. If the foregoing "pick-up" 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 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 shall then return to the futureformer method of employer/employee retirement system contributions as soon as necessary. 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 SERS pick-up will utilize the salary reduction method. The Board shall designate each employee's ’s mandatory contributions to the School Employees Retirement System of Ohio as "pick“picked-up" ” by the Board Board. This action will be as suggested contemplated by Internal Revenue Rulings Service Ruling 77-464 and 81-36, although such pick-up shall continue to be designated as employee contributions as permitted by Attorney General Opinion 82-36 and 77-462097, which means in order that employee contributions need not be included in gross income for tax purposes. Therefore, the amount of the employee's ’s income reported by the Board as subject to federal Federal and Ohio income tax shall be the employee's ’s total gross income reduced by the then-then current mandated percentage amount of the contribution. No employee's mandatory ’s total salary shall be increased by such pick-up, nor shall the Board’s total contribution to the School Employees Retirement System contributionbe increased thereby. This action shall be subject to the following stipulations: A. 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 unitincluding supplemental earnings thereafter. 1. B. The parties agree that, should the rules rule and regulations of the IRS or retirement system changeSchool Employees Retirement System, change making this procedure unworkable, the parties agree to return, without penalty, to the former method of employee/employer contributions. 2. C. Payment for sick leave, personal leave, severance and severancesupplementals, including unemployment and workers' ’ compensation, shall be based on the employee's ’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. D. The Board is not liable, nor nor, will it be held responsible responsible, for any related legal, IRS, SERS, or any other agencies' ’ penalties or decisions concerning this plan plan, now or in the future. 5. E. The Association agrees Union, and its bargaining unit members, both severally and individually agree to indemnify and save hold the Board harm harmless against any and all claims and actions that shall arise out of or by reason of any action taken by the Board in compliance with the provisions of this Article.