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.
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:
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:
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:
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. 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:
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:
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",
