Common use of STRS PICK-UP WITH REDUCTION Clause in Contracts

STRS PICK-UP WITH REDUCTION. The Board herewith agrees with the Association to pick-up (assume and pay) contributions to the State Teachers' Retirement System (STRS) on behalf of the individuals in the bargaining unit on the following terms and conditions: 1. The amount to be picked-up and paid on behalf of each individual for the employee's share shall be the employee’s contribution. Picked- up contributions shall be included in earnings for retirement purposes for all certificated staff. 2. The pick-up percentage shall apply uniformly to all individuals in the bargaining unit. 3. No individual covered by this provision shall have the option to elect a wage increase or other benefit in lieu of the employer pickup. 4. The pick-up shall apply to all compensation including supplemental earnings. 5. For federal and state tax purposes, the W-2 form shall show the total amount of compensation reduced by the employee's contribution. For STRS purposes the total amount of compensation shall not be reduced. 6. STRS pick-up shall in no way affect unemployment compensation, sick leave, workers' compensation, severance pay, daily rate of pay or any other calculation based on the then currently effective salary base.

STRS PICK-UP WITH REDUCTION. The Board herewith agrees with the Association to pick-up (assume and pay) contributions to the State Teachers' Teachers Retirement System (STRS) on behalf of the individuals in the bargaining unit on the following terms and conditions: 1. The amount to be picked-picked up and paid on behalf of each individual for the employee's share shall be the employee’s contribution. Picked- up contributions The individual’s annual compensation shall be included in earnings for retirement purposes for all certificated staffreduced by an amount equal to the amount picked up and paid by the Board. 2. The pick-up percentage shall apply uniformly to all individuals in the bargaining unit. 3. No individual covered by this provision shall have the option to elect a wage increase or other benefit in lieu of the employer pickuppick-up. 4. The pick-up shall apply to all compensation including supplemental earnings. 5. For federal and state tax purposes, the W-2 form shall show the total amount of compensation reduced by the employee's ’s contribution. For STRS purposes the total amount of compensation shall not be reduced. 6. STRS pick-up shall in no way affect unemployment compensation, sick leave, workers' ’ compensation, severance pay, daily rate of pay pay, or any other calculation based on the then currently effective salary basesalary.