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.
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Samples: Negotiated Agreement, Negotiated Agreement, Negotiated Agreement
