Common use of STRS PICK-UP UTILIZING THE SALARY REDUCTION METHOD Clause in Contracts

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 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-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).