State Teachers Retirement System. All who are required to participate in the State Teachers' Retirement System (STRS) pursuant to state law shall be covered by that plan.
State Teachers Retirement System. Annuities from the present list of companies in which a deduction would amount to fifty dollars ($50.00) or more per period, and for which at least five (5) teachers enroll for deductions.
State Teachers Retirement System. School Income Tax
State Teachers Retirement System. The faculty member and the District shall make contributions to the STRS in proportion to the load worked, and the faculty member shall receive proportionate service credit.
State Teachers Retirement System. The Board agrees to pick-up, utilizing the salary reduction method, contributions to the State Teachers Retirement System ("STRS") paid on behalf of bargaining unit members under the following terms and conditions:
A. The amount to be "picked-up" on behalf of each unit member shall be the percent mandated by STRS of the unit member's gross annual compensation. The unit member's annual compensation shall be reduced by an amount equal to the amount "picked-up" by the Board for purposes of State and Federal taxes only.
B. The "picked-up" percentage shall apply uniformly to all unit members as a condition of employment. Pursuant to the Lockland Education Association Master Contract, the Board of Education Treasurer’s Office must determine and acknowledge each teacher’s intent to participate in the Sick Leave Bank each school year between September 1 and October 1. Please indicate and sign below showing your intent. A copy of this form will be returned to you for your records. If you are a new member, one (1) sick day will be deducted from your account and added to the Sick Leave Bank. Membership is continuous from year to year unless cancelled in writing to the Treasurer during the period of September 1 through October 1 of each school year, and I specifically acknowledge and agree that the granting of days from the Sick Leave Bank shall be at the sole discretion of the Sick Leave Bank Board. All decisions of the Sick Leave Bank Board will be final and binding and not subject to the grievance procedure. I further agree to abide by such decision and to indemnify and hold harmless Lockland School District Board of Education, the Lockland Education Association, the Sick Leave Bank Board, and all of their agents for any loss they may sustain as a result of any claim or legal proceedings I may bring against any of them with respect to a decision made by any of them concerning this application. □ I choose to participate in the Lockland Education Association Sick Leave Bank. □ I choose not to participate in the Lockland Education Association Sick Leave Bank. Name Date Signature Employee ID No. Name □ This confirms your enrollment in the Lockland Education Association Sick Leave Bank. □ One (1) sick day has been deducted from your account. □ Participation confirmed. □ This confirms your choice not to participate in the Lockland Education Association Sick Leave Bank. Lockland Treasurer Date
State Teachers Retirement System. The only exception to this requirement is for a teacher who has twenty (20) years of service credit {as determined in Chapter 3307.38). Said teacher shall be eligible to receive severance pay after receiving his/her benefit check from the STRS providing the teacher has been fully retired from Ohio teaching from the day of his/her last day of employment with the Otsego Board to the day he/she receives the first benefit check from STRS.
State Teachers Retirement System. The Board shall pay the employer's share of the contribution to the State Teachers’ Retirement System under the Ohio Revised Code for each teacher in the bargaining unit.
State Teachers Retirement System. (STRS) PICKUP The total annual salary of each bargaining unit member shall be payable by the Board in two (2) parts:
1. Cash salary; and
2. Deferred salary (through the salary restatement method of picking-up the employee contribution to STRS). An employee's deferred salary shall equal the amount of the employee contribution to STRS required by law and shall be paid by the Board to STRS on behalf of the employee as a pickup (by means of the salary restatement method) of the employee contribution otherwise payable by the employee. An employee's annual cash salary shall be equal to the employee's total contracted annual salary less the employee's deferred salary, and shall be payable subject to applicable payroll deductions to the employee. The Board's total combined expenditure for total annual salary of all bargaining unit members (including deferred salary amounts) and its employer contributions to STRS shall not be greater than the amounts it would have paid for those items had this section of the Agreement not been in effect. The Board shall compute and remit its employer contributions to STRS based upon an employee's total annual salary including the deferred salary. The Board shall report for federal and Ohio income tax purposes as an employee's gross income the employee's total annual salary less the amount of the employee's deferred salary. The Board shall report for municipal income tax purposes as an employee's gross income the employee's total annual salary, including the amount of the employee's deferred salary. The Board shall compute income tax withholding based upon gross income as reported to the respective tax authorities. An employee's deferred salary shall be included in the member's total annual salary for the purpose of computing daily rate of pay for determining any particular salary adjustment to be made due to absence or for any other purpose.
State Teachers Retirement System. (STRS) PAPER PICK-UP A. Consistent with the provisions of Internal Revenue Service Ruling 77-462, 81-35, and 81- 36, the Board shall pick-up each employee's mandatory contributions to the State Teachers Retirement System of Ohio (STRS), provided that no employee's total salary is increased by such pick-up nor is the Board 's total contribution to STRS increased thereby.
State Teachers Retirement System. Membership in the State Teachers Retirement System (STRS) or the College’s approved Alternate Retirement Plan (ARP) is mandated for all employees of the College who meet the eligi- bility requirements of the STRS as established by state law. Within the STRS regulations, the College arranges that employ- ee contributions are deducted before state and federal taxes are calculated. The College and each employee shall contribute at the statutori- ly mandated rate(s) to the STRS or the ARP, pursuant to the reg- ulations of that system.
