Common use of SERS PICKUP Clause in Contracts

SERS PICKUP. Effective upon ratification by the Union and approval by the Board, the Board shall designate each employee's mandatory contributions to the School Employees Retirement System of Ohio as "picked up" by the Board as contemplated by Internal Revenue Service Revenue Rulings 77- 462 and 81-36, although they shall continue to be designated as employee contributions as permitted by the 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 School Employees Retirement System of Ohio contribution which has been designated as "picked up" by the Board shall be included in computing final average wage, provided that no employee's total wage is increased by such "pick up," nor is the Board's total contribution to the School Employees Retirement System of Ohio increased thereby.

SERS PICKUP. Effective upon ratification by the Union and approval by the Board, the Board shall designate each employee's mandatory contributions to the School Employees Retirement System of Ohio as "picked up" by the Board as contemplated by Internal Revenue Service Revenue Rulings 77- 462 and 81-36, although they shall continue to be designated as employee contributions as permitted by the Attorney General Opinion 82-82- 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 School Employees Retirement System of Ohio contribution which has been designated as "picked up" by the Board shall be included in computing final average wage, provided that no employee's total wage is increased by such "pick up," nor is the Board's total contribution to the School Employees Retirement System of Ohio increased thereby.

SERS PICKUP. ‌ Effective upon ratification by the Union and approval by the Board, the Board shall designate each employee's mandatory contributions to the School Employees Retirement System of Ohio as "picked up" by the Board as contemplated by Internal Revenue Service Revenue Rulings 77- 77-462 and 81-36, although they shall continue to be designated as employee contributions as permitted by the 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-then current percentage amount of the employee's mandatory School Employees Retirement System of Ohio contribution which has been designated as "picked up" by the Board, and that the amount designated as "picked up" by the Board shall be included in computing final average wagesalary, provided that no employee's total wage salary is increased by such "pick up," ", nor is the Board's total contribution to the School Employees Retirement System of Ohio increased thereby.