Common use of SERS PICK-UP Clause in Contracts

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. 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 ’s compensation. The bargaining unit member's ’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.