Common use of SERS PICKUP Clause in Contracts

SERS PICKUP. The EMPLOYER shall designate each employee's mandatory contributions to the State Employees Retirement System of Ohio as "picked up" by the EMPLOYER as contemplated by Internal Revenue Service Revenue Rulings 77-464 and 82-36, although they shall continue to be designated as employee contributions as permitted by Attorney General Opinion 82-097, in order that 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 State Employees Retirement System contribution which has been designated as "picked up" by the EMPLOYER, and that the amount designated as "picked up" by the EMPLOYER shall be included in computing final average earnings, provided that no employee's total earnings is increased by such "pick up", nor is the EMPLOYER's total contributions to the State employees Retirement System increased thereby.

SERS PICKUP. The EMPLOYER shall designate each employee's ’s mandatory contributions to the State Employees Retirement System of Ohio as "“picked up" ” by the EMPLOYER as contemplated by Internal Revenue Service Revenue Rulings 77-464 and 82-36, although they shall continue to be designated as employee contributions as permitted by Attorney General Opinion 82-097, in order that the amount of the employee's ’s income reported by the BOARD as subject to Federal and Ohio income tax shall be the employee's ’s total gross income reduced by the then-current percentage amount of the employee's ’s mandatory State Employees Retirement System contribution which has been designated as "“picked up" ” by the EMPLOYER, and that the amount designated as "“picked up" ” by the EMPLOYER shall be included in computing final average earnings, provided that no employee's ’s total earnings is increased by such "“pick up"”, nor is the EMPLOYER's ’s total contributions to the State employees Retirement System increased thereby.