STRS PICK-UP UTILIZING THE SALARY REDUCTION METHOD Sample Clauses

STRS PICK-UP UTILIZING THE SALARY REDUCTION METHOD. ‌ A. The Board shall designate each employee's mandatory contribution to the State Teachers Retirement System of Ohio as "picked up" by the Board as contemplated by Internal Revenue Service Revenue Rulings 77-464 and 81-36, although they shall continue to be designated as employee contribution as permitted by 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 State Teachers Retirement System contribution which has been designed as "picked up' by the Board, and that the amount designated as "picked up" by the Board shall be included in computing final average salary, provided that no employee's total salary is increased by such "pick up", nor is the Board's total contribution to the State Teachers Retirement System increased thereby. 1. The pick-up percentage shall apply uniformly to all members of the bargaining unit as a condition of employment. The pick-up shall apply to all compensation including supplemental earnings thereafter.
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STRS PICK-UP UTILIZING THE SALARY REDUCTION METHOD. The Board shall designate each Instructional Employee's mandatory contributions to the State Teachers Retirement System of Ohio as "picked up" by the Board as contemplated by Internal Revenue Service Revenue Rulings 77-464 and 81-36, although they shall continue to be designated as Instructional Employee contributions, as permitted by Attorney General Opinion 82-097, in order that the amount of the Instructional Employee’s income reported by the Board as subject to federal and Ohio income tax shall be the Instructional Employee’s total gross income reduced by the then current percentage amount of the Instructional Employee’s mandatory State Teachers Retirement System contribution which has been designated as "picked-up" by the Board shall be included in computing final average salary, provided that no Instructional Employee’s total salary is increased by such "pick up," nor is the Board's total contribution to the State Teachers Retirement System increased thereby. A. The pick-up percentage shall apply uniformly to all members of the bargaining unit as a condition of employment. The pick-up shall apply to all compensation, including supplemental earnings thereafter. B. The parties agree that should the rules and regulations of the IRS, or retirement system change making this procedure unworkable, the parties agree to return, without penalty, to the former method of employee/employer contributions. C. Payment for sick leave, personal leave, severance and supplementals, including unemployment and workers’ compensation, shall be based on the Instructional Employee’s daily gross pay prior to reduction as basis (e.g. gross pay divided by the number of days in an Instructional Employee’s contract). D. Such salary reduction shall not result in a salary which is less than the salary available under the state minimum salary schedule. Should the reduction calculation result in a salary that is less than the state minimum salary schedule, pro rata reduction shall result with the Instructional Employee contributing that portion which falls below such state minimum level. E. It is understood that it is the responsibility of each individual Instructional Employee to make necessary adjustment(s) in any other tax-sheltered annuities he/she has in order to be in compliance with IRS laws and regulations. F. 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 th...
STRS PICK-UP UTILIZING THE SALARY REDUCTION METHOD. The Board of Education of the Xxxxxxx Xxxxx Local School District herewith agrees with the Xxxxxxx Xxxxx Education Association to pick-up at no cost to the Board and utilizing the salary reduction method, contributions to the State Teachers Retirement System paid on behalf of unit members under the following terms and conditions: The amount to be “picked-up” on behalf of each employee shall be the prevailing percentage rate per the Ohio Revised Code, of the employee’s gross annual compensation. The employee’s annual compensation shall be reduced by an amount equal to the amount “picked-up” by the Board for the purpose of State and Federal tax only. The pick-up shall be uniformly applied to all members of the bargaining unit. The pick-up shall become effective September 1, 1985, and shall apply to all compensation including supplemental earnings thereafter. Each teacher will be responsible for compliance with Internal Revenue Service salary exclusion allowance regulations with respect to the “pick-up” in combination with other tax deferred compensation plans. If the foregoing “pick-up” provisions are nullified by subsequent Internal Revenue Service Rulings, Ohio Attorney General Opinions, or other governing regulations, the Board will be held harmless and this article of the Agreement shall be declared null and void. Tax-deferred Service Credit Purchase Available – A tax-deferred installment plan will go into effect through which members can purchase STRS service credit with pretax dollars. This plan will allow members to defer their tax liability until retirement benefits are paid.
STRS PICK-UP UTILIZING THE SALARY REDUCTION METHOD. 1. The Board of Education of the Lake Local School District herewith agrees with the Lake Education Association to pick-up at no cost to the Board and utilizing the salary reduction method, contributions to the State Teachers Retirement System paid on behalf of unit members under the following terms and conditions: a. The amount to be “picked-up” on behalf of each employee shall be the prevailing rate per the Ohio Revised Code, of the employee’s gross annual compensation. The employee’s annual compensation shall be reduced by an amount equal to the amount “picked-up” by the Board for the purpose of State and Federal tax only. b. Shall be uniformly applied to all members of the bargaining unit. c. The pick-up became effective January 1, 1986 and shall apply to all compensation including supplemental earnings thereafter. 2. Each teacher will be responsible for compliance with Internal Revenue Service salary exclusion allowance regulations with respect to the pick-up in combination with other tax deferred compensation plans. 3. If the foregoing pick-up provisions are nullified by subsequent Internal Revenue Service Rulings, Ohio Attorney General Opinions, or other governing regulations, the Board will be held harmless and this Article of the Agreement shall be declared null and void.
STRS PICK-UP UTILIZING THE SALARY REDUCTION METHOD. The Board of Education of the Nelsonville-York City School District herewith agrees with the Nelsonville-York Education Association to pick-up, utilizing the salary reduction method, contributions to the State Teachers Retirement System paid upon the behalf of the employees in the bargaining unit under the following terms and conditions: 1. The amount to be "picked-up" on behalf of each employee shall be the mandatory contributions to the State Teachers’ Retirement System of Ohio of the employee's gross annual compensation. The employee's annual compensation shall be reduced by an amount equal to the amount "picked-up" by the Board for the purpose of State and Federal tax only. 2. The pick-up percentage shall apply uniformly to all members of the bargaining unit as a condition of employment. 3. The pick-up shall become effective January 1, 1984 and shall apply to all compensation including supplemental earnings thereafter. 4. The parties agree that should the rules and regulations of the IRS, or retirement system change, making this procedure unworkable, the parties agree to return, without penalty, to the former method of employer/employee contributions. 5. Payment for sick leave, personal leave, severance and supplementals, including unemployment and xxxxxxx'x compensation, shall be based on the employee's daily gross pay prior to reduction as basis (e.g. gross pay divided by the number of days in a teacher's contract).
STRS PICK-UP UTILIZING THE SALARY REDUCTION METHOD. The Board of Education of the Crestline Exempted Village School District herewith agrees with the Crestline Education Association to pick-up, utilizing the salary reduction method, contributions to the State Teachers Retirement System paid upon behalf of the employees in the bargaining unit under the following terms and conditions: 1. The amount to be "picked-up" on behalf of each employee shall be the percentage assessed by STRS to the employee of the employee's gross annual compensation. The employee's annual compensation shall be reduced by an amount equal to the amount "picked-up" by the Board for the purpose of state and federal tax only. 2. The pick-up percentage shall apply uniformly to all members of the bargaining unit as a condition of employment. 3. The pick-up shall become effective January 1, 1984, and shall apply to all compensation including supplemental earnings thereafter. 4. The parties agree that should the rules and regulations of the IRS or retirement system change making this procedure unworkable, the parties agree to return, without penalty, to the former method of employee/employer contributions. 5. Payment for all paid leaves, sick leave, personal leave, retirement compensation and supplementals, including unemployment and workers' compensation, shall be based on the employee's daily gross pay prior to reduction as a basis (e.g., gross pay divided by the number of days in a bargaining unit member’s contract). SALARY INDEX EFFECTIVE July 1, 2020 STEP BA 5 YR MA MA+15 MA+30 Step 0 1.0000 1.0500 1.1500 1.2000 1.2500 Step 1 1.0500 1.1000 1.2000 1.2500 1.3000 Step 2 1.1000 1.1500 1.2500 1.3000 1.3500 Step 3 1.1500 1.2000 1.3000 1.3500 1.4000 Step 4 1.2000 1.2500 1.3500 1.4000 1.4500 Step 5 1.2500 1.3000 1.4000 1.4500 1.5000 Step 6 1.3000 1.3500 1.4500 1.5000 1.5500 Step 7 1.3500 1.4000 1.5000 1.5500 1.6000
STRS PICK-UP UTILIZING THE SALARY REDUCTION METHOD. The Board agrees with the Association to STRS "pick-up" utilizing the salary reduction method contributions to the State Teachers Retirement System paid on behalf of the unit members, at no cost to the Board, under the following terms and conditions: 1. The amount to be picked-up on behalf of each unit member shall be the rate set by the State Teachers Retirement System. The unit member's annual compensation shall be reduced at no cost to the Board, by an amount equal to the amount picked-up by the Board for the purpose of State and Federal Tax only. 2. The pick-up percentage shall apply uniformly to all unit members as a condition of employment. 3. No unit member covered by this provision shall have the option to elect a wage increase or other benefit in lieu of the employer pick-up. 4. The pick-up shall apply to all compensation including supplemental earnings. 5. Payment for all paid leaves, sick leave, personal leave, severance and supplementals including unemployment and workers' compensation shall be based on the unit member's daily gross pay prior to reduction as basis (e. g., gross pay divided by the number of days in a unit member's contract). Each unit member will be responsible for compliance with Internal Revenue Service salary exclusion allowance regulations with respect to the pick-up in combination with other tax deferred compensation plans. If the foregoing pick-up provisions are nullified by subsequent Internal Revenue Service Rulings, Ohio Attorney General Opinions, or other governing regulations, the Board will be held harmless and this Article of the Agreement shall be declared null and void.
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STRS PICK-UP UTILIZING THE SALARY REDUCTION METHOD. The Board of Education of the Federal Hocking Local School District herewith agrees with the Federal Hocking Teachers' Association to pick-up utilizing the salary reduction method contributions to the State Teachers Retirement System paid upon behalf of the employees in the bargaining unit under the following terms and conditions: A. The amount to "pick-up" on behalf of each employee shall be 10 percent (10%) or any statutory increases therein of the employees' gross annual compensation. The employee's annual compensation shall be reduced by an amount equal to the amount of "pick-up" by the Board for the purpose of State and Federal tax only. B. The pick-up percentage shall apply uniformly to all members of the bargaining unit as a condition of employment. C. The pick-up shall become effective and shall apply to all compensation including supplemental earning thereafter. D. The parties agree that should the rules and regulations of the IRS, or retirement system change making this procedure unworkable, the parties agree to return, without penalty, to the former method of employee/employer contributions. E. Payment for all paid leaves: sick leave, personal leave, severance, and supplementals including unemployment and worker's compensation shall be based on the employee's daily gross pay prior to reduction as basis (e.g. gross pay divided by the number of days in a teacher's contract).
STRS PICK-UP UTILIZING THE SALARY REDUCTION METHOD. 1. The Board of Education of the Lake Local School District herewith agrees with the Lake Education Association to pick-up at no cost to the Board and utilizing the salary reduction method, contributions to the State Teachers Retirement System paid on behalf of unit members under the following terms and conditions: a. The amount to be “picked-up” on behalf of each employee shall be the prevailing rate per the Ohio Revised Code, of the employee’s gross annual compensation. The employee’s annual compensation shall be reduced by an amount equal to the amount “picked-up” by the Board for the purpose of State and Federal tax only. b. Shall be uniformly applied to all members of the bargaining unit. c. The pick-up became effective January 1, 1986 and shall apply to all compensation including supplemental earnings thereafter. 2. Each teacher will be responsible for compliance with Internal Revenue Service salary exclusion allowance regulations with respect to the pick-up in combination with other tax deferred compensation plans. 3. If the foregoing pick-up provisions are nullified by subsequent Internal Revenue Service Rulings, Ohio Attorney General Opinions, or other governing regulations, the Board will be held harmless and this Article of the Agreement shall be declared null and void. 0 1. 0000 1.0371 1.0742 1.1113 1.1484 1.1855 July 1, 2022 - June 30, 0000 XXXXXXXX X Head Football 20 0.2 $7,986 $8,225 $8,471 Head Basketball (B) 18 0.18 $7,187 $7,402 $7,624 Head Basketball (G) 18 0.18 $7,187 $7,402 $7,624 Assistant Athletic Director 16 0.155 $6,189 $6,374 $6,565 Head Wrestling 16 0.155 $6,189 $6,374 $6,565 Head Track 16 0.155 $6,189 $6,374 $6,565 Head Baseball 16 0.155 $6,189 $6,374 $6,565 Head Volleyball 16 0.155 $6,189 $6,374 $6,565 Head Softball 16 0.155 $6,189 $6,374 $6,565 Head Soccer (B) 16 0.155 $6,189 $6,374 $6,565 Head Soccer (G) 16 0.155 $6,189 $6,374 $6,565 Marching Band 16 0.155 $6,189 $6,374 $6,565 Assistant Football (6) 0.142 $5,670 $5,840 $6,014 JV Basketball (B) 14 0.135 $5,391 $5,552 $5,718 JV Basketball (G) 14 0.135 $5,391 $5,552 $5,718 JV Soccer (B) 14 0.135 $5,391 $5,552 $5,718 JV Soccer (G) 14 0.135 $5,391 $5,552 $5,718 MS Athletic Director 14 0.135 $5,391 $5,552 $5,718 JV Volleyball 14 0.135 $5,391 $5,552 $5,718 JV Baseball 14 0.135 $5,391 $5,552 $5,718 JV Softball 14 0.135 $5,391 $5,552 $5,718 Freshman Basketball (B) 13 0.115 $4,592 $4,729 $4,871 HS Musical 13 0.115 $4,592 $4,729 $4,871 HS Cheerleading 13 0.115 $4,592 $4,729 $4,871 Head ...
STRS PICK-UP UTILIZING THE SALARY REDUCTION METHOD. The Board agrees with the Union to STRS “pick-up,” utilizing the salary reduction method, contributions to the State Teachers Retirement System paid upon behalf of the employees, at no cost to the Board; in the bargaining unit under the following terms and conditions: 1. The amount to be “picked-up” on behalf of each bargaining unit member shall be that percentage of the bargaining unit member’s gross annual compensation so designated by the STRS as the bargaining unit member’s contribution to said retirement system. The bargaining unit member’s annual compensation shall be reduced, at no cost to the Board, by an amount equal to the amount “picked-up” by the Board for the purpose of State and Federal tax only. 2. The pick-up percentage shall apply uniformly to all members of the bargaining unit. 3. No bargaining unit member covered by this provision shall have the option to elect a wage increase or other benefit in lieu of the employer pick-up. 4. Payment for all paid leaves, sick leave, personal leave, severance and supplemental, including unemployment and xxxxxxx’x compensation, shall be based on the bargaining unit member’s daily gross pay prior to reduction as basis (i.e., gross pay divided by the number of days in a bargaining unit member’s contract) Each bargaining unit member will be responsible for compliance with Internal Revenue Service salary exclusion allowance regulations with respect to the “pick-up” in combination with other tax deferred compensation plans. If the foregoing “pick-up” provisions are nullified by subsequent Internal Revenue Service rulings, Ohio Attorney General opinions, or other governing regulations, the Board will be held harmless and this article of the Agreement shall be declared null and void.
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