STRS “PICK-UP” SALARY REDUCTION METHOD. A. The Board herewith agrees with the Association to “pick-up” utilizing the salary reduction method at no cost to the Board, contributions to the State Teachers Retirement System paid upon behalf of unit members under the following terms and conditions:
STRS “PICK-UP” SALARY REDUCTION METHOD. Each teacher's salary shall be reduced in an amount equal to the teacher's contribution to the State Teacher's Retirement System and paid to STRS on behalf of the teacher. The salary reduction method of STRS payment pickup shall apply uniformly to all teachers, and no teacher covered by STRS shall be exempt. The STRS payment defined herein shall apply to all compensation earned including regular contract and supplemental contract earnings.
STRS “PICK-UP” SALARY REDUCTION METHOD. The State Teachers Retirement System pick-up method will continue to be used for the term of this contract for each employee's contribution. 1606 Tax Sheltered Accounts The employer will appoint a joint committee to explore adopting a 403 (b) and or a 457 (b) accounts for members of the bargaining unit for severance purposes.
STRS “PICK-UP” SALARY REDUCTION METHOD. A. The Board agrees to STRS "pick-up" utilizing the salary reduction method. Contributions to the State Teacher Retirement System will be paid on behalf of the employees in the bargaining unit, at no cost to the Board, under the following terms and conditions:
STRS “PICK-UP” SALARY REDUCTION METHOD. 34.00 The Board shall designate each employee’s mandatory contribution to the State Teachers Retirement System of Ohio as “picked up” by the Board. This action will be as contemplated by Internal Revenue Service Ruling 77-464 and 81-36, although such pick- up 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 total gross income reduced by the then current mandated percentage amount of the employee’s mandatory State Teacher’s Retirement System contribution. No employee’s total salary shall be increased by such “pick-up”, nor shall the Board’s total contribution to the State Teacher’s Retirement System be increased thereby. This action shall be subject to the following conditions:
