Common use of STRS PICK-UP Clause in Contracts

STRS PICK-UP. The Board herewith agrees with the Association to pick-up, utilizing the salary reduction method, contributions to the State Teachers Retirement System paid on behalf of the employees in the bargaining unit under the following terms and conditions. A. The amount to be “picked-up” on behalf of each unit member shall be the percent mandated by STRS of the unit member’s gross annual compensation. The unit members annual compensation shall be reduced by an amount equal to the amount “picked-up” by the Board for the purpose of State and Federal taxes only. B. The pick-up percentage shall apply uniformly to all unit members as a condition of employment. C. The pick-up shall apply to all compensation including supplemental earnings 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 sick leave, personal leave, severance and supplemental contracts, including unemployment and worker’s compensation, shall be based on the unit member’s daily gross pay prior to reduction (e.g., gross pay divided by the number of days in a unit member’s contract).

STRS PICK-UP. The Board herewith agrees with the Association to pick-up, utilizing the salary reduction method, contributions to the State Teachers Retirement System paid on behalf of the employees in the bargaining unit under the following terms and conditions. A. The amount to be “picked-up” on behalf of each unit member shall be the percent mandated by STRS of the unit member’s gross annual compensation. The unit members annual compensation shall be reduced by an amount equal to the amount “picked-up” by the Board for the purpose of State and Federal taxes only. B. The pick-up percentage shall apply uniformly to all unit members as a condition of employment. C. The pick-up shall apply to all compensation including supplemental earnings 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 sick leave, personal leave, severance and supplemental contractssupplementals, including unemployment and worker’s compensation, shall be based on the unit member’s daily gross pay prior to reduction (e.g., gross pay divided by the number of days in a unit member’s contract).