State Teachers Retirement System STRS Sample Clauses

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.
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State Teachers Retirement System STRS. The Versailles Exempted Village School District Board of Education shall designate each employee’s mandatory contribution to the State Teachers Retirement System (STRS) of Ohio as “picked- up/deferred” by the Board although the contribution shall continue to be designated as employee contributions. The amount of the employee’s income reported by the Board and subject to the federal and state income taxes shall be the employee’s total gross income reduced by the mandatory employee contribution. In the event an adverse determination from either the Board’s legal advisor or the Internal Revenue Service is rendered which affects the qualifying status of this “pick-up/deferral” plan, the plan shall be rendered null and void. This change took effect with the September 6, 1985 payroll.
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State Teachers Retirement System STRS. A. PICK-UP UTILIZING THE SALARY REDUCTION METHOD 1. The parties agree that, should the rules and regulations of the IRS or State Teachers Retirement System change making this procedure unworkable, the parties agree to return, without penalty, to the former method of employee/employer contributions. 2. Payment for sick leave, personal leave, severance and supplementals, including unemployment and workers compensation, shall be based on employees' daily gross pay prior to reduction. 3. It is to be understood by the parties that it is the responsibility of each individual employee to make any necessary adjustments in any other tax sheltered annuities he/she has in order to be in compliance with IRS laws and regulations. 4. The Board is not liable, nor will it be held responsible, for any related legal, IRS, STRS, or any other agencies' penalties or decisions concerning this plan, now or in the future. 5. The Association, and its members, both severally and individually agree to indemnify and hold the Board harmless against any and all claims and actions that shall arise out of or by reason of any action taken by the Board in compliance with the provisions of this article.
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State Teachers Retirement System STRS. If the District and Charter School agree to utilize the District for preparing and submitting STRS reporting for the Charter School, the Charter School shall reimburse the District for the actual costs of administration of STRS records and the submission of required reports.
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State Teachers Retirement System STRS. The Pickerington Local School District will make timely payments of both the “employer” and “employee” contributions to the State Teachers Retirement System (“STRS”) with regards to the Service Provider(s). Contractor will provide all necessary payment reports and/or records to the Pickerington Local School District for this purpose, and all “employee” contributions shall be deducted from invoices submitted by Contractor and paid by the Pickerington Local School District.
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State Teachers Retirement System STRS. 11.6.1 Unit members will be enrolled in STRS.
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State Teachers Retirement System STRS. 1. The Board shall make available to certificated staff members the STRS pick-up. 2. The pick-up will be of no cost to the Board and is solely for the purpose of reducing current tax for certificated staff members and will remain in effect as long as Internal Revenue Ruling 81-36 remains substantially unchanged. 3. Certificated staff members are individually responsible for reviewing the relationship between the pick-up and their other tax deferred arrangements, if any.
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State Teachers Retirement System STRS. A. PICK-UP UTILIZING THE SALARY REDUCTION METHOD 1. The parties agree that, should the rules and regulations of the IRS or State Teachers Retirement System change making this procedure unworkable, the parties agree to return, without penalty, to the former method of employee/employer contributions. 2. Payment for sick leave, personal leave, severance and supplementals, including unemployment and workers compensation, shall be based on employees' daily gross pay prior to reduction. 3. It is to be understood by the parties that it is the responsibility of each individual employee to make any necessary adjustments in any other tax sheltered annuities he/she has in order to be in compliance with IRS laws and regulations. 4. The Board is not liable, nor will it be held responsible, for any related legal, IRS, STRS, 5. The Association, and its unit members, both severally and individually agree to indemnify and hold the Board harmless against any and all claims and actions that shall arise out of or by reason of any action taken by the Board in compliance with the provisions of this article.
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State Teachers Retirement System STRS 
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Related to State Teachers Retirement System STRS

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