Common use of SERS PICK-UP Clause in Contracts

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. 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.