STATE TEACHERS RETIREMENT SYSTEM (STRS) PICKUP. 1. Consistent with the provisions of Internal Revenue Service Rulings 77- 462, 81-35, and 81-36, effective for earnings after July 1, 1984, the Board shall pick up each teacher's mandatory contributions to the State Teachers Retirement System of Ohio (STRS), provided that no teacher's total salary is increased by such pickup nor is the Board's total contribution to STRS increased thereby.
2. The dollar amount to be designated as "picked up" by the Board:
a. shall equal the then current percentage amount of the teacher's mandatory STRS contribution;
b. shall be credited by XXXX as employee contributions under authority of Ohio Attorney General Opinion 82-097;
c. shall not be reported by the Board as subject to current federal and state income taxes;
d. shall be reported by the Board as subject to city income taxes;
3. Each teacher will be responsible for compliance with Internal Revenue Service salary exclusion allowance regulations with respect to the "pickup" in combination with other tax deferred compensation plans.
4. If the foregoing "pickup" provisions are nullified by subsequent Internal Revenue Service Rulings, Ohio Attorney General Opinions, or other governing regulations, the Board, the Treasurer, and other Board employees will be held harmless by the Association and this Article of the Agreement shall be declared null and void.
