STRS PICKUP a. The Board shall assume and pay, or pickup, the mandatory employee contribution to STRS required for all STRS participants, subject to the provisions of this Section, in lieu of payment of those contributions by said members.
b. For purposes of this Pickup Plan, total salary or salary per pay period for each member shall be the salary otherwise payable under their contracts and applicable Board policies. The total annual salary or salary per pay period of each member shall be payable by the Board in two parts:
(1) deferred annual salary and (2) cash salary. A member’s deferred salary shall be equal to that percentage of said member’s total annual salary or salary per pay period which is required from time to time by the Ohio State Teachers Retirement System (“STRS”) to be paid as an employee contribution by said member and shall be paid by the Board to STRS on behalf of said member as “pickup” of the STRS employee contribution otherwise payable by said member. A unit member’s cash salary shall be equal to said unit member’s total annual salary or salary per pay period less the amount of the pickup for said member and shall be payable, subject to applicable payroll deductions, to said member. The Board’s combined total expenditures for unit members’ total annual salaries or salaries per pay period otherwise payable under this Section (including pickup amounts and its employer contributions to STRS) shall not be greater than the amount it would have paid for those items had this provision not been in effect.
c. The Board shall compute and remit its employer contributions to STRS based upon total annual salary or salary per pay period, including the “pickup.” The Board shall report for federal and Ohio income tax purposes as a unit member’s gross income said member’s total annual salary or salary per pay period, less the amount of the “pickup.” The Board shall report for municipal income tax purposes as a member’s gross income said member’s total annual salary or salary per pay period, including the amount of the “pickup,” the Board shall compute income tax withholding based upon gross income as reported to the respective taxing authorities.
d. The “pickup” shall be included in the member’s total annual salary or salary per pay period for the purpose of computing daily rate of pay, for determining paid salary adjustments to be made due to absence, or for any other similar purpose.
e. The Pickup Plan shall be effective within 60 days after this Agreement is ...
STRS PICKUP. 6.01.3.1 On behalf of each teacher who is a member of the State Teachers Retirement System, the Board shall pick up the contributions required to be made to STRS by each teacher pursuant to O.R.C. 3307.51 but subject to the following terms and conditions:
6.01.3.2 For each teacher, the amount to be picked up by the Board shall be equal to but shall not exceed the amount such teacher would otherwise have been required to contribute pursuant to 0.R.C. 3307.51.
6.01.3.3 The amount each teacher would otherwise have been required to contribute shall be computed utilizing, for each teacher, the salary index and, where applicable, the supplemental salary schedule.
6.01.3.4 The amount of salary due each teacher pursuant to the salary index and/or supplemental salary schedule shall be reduced in an amount equal to the STRS contribution pick-up made by the Board on behalf of such teacher.
6.01.3.5 No teacher covered by this provision shall be permitted to waive STRS pickup by the Board.
STRS PICKUP. The Board shall designate each employee's mandatory contributions to the State Teacher's Retirement System of Ohio, made after the effective date hereof, for the 1985-86 and subsequent school years, as picked up by the Board as contemplated by Internal Revenue Service Revenue Rulings 77-462 and 81-36, although they shall continue to be designated as employee contributions as permitted by the 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 Teacher's Retirement contribution which has been 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 Teacher's Retirement System of Ohio increased thereby.
STRS PICKUP. Effective upon ratification by the Union and approval by the Board, the Board shall designate each employee's mandatory contributions to the School Teachers Retirement System of Ohio as "picked up" by the Board as contemplated by Internal Revenue Service Revenue Rulings 77-462 and 81-36, although they shall continue to be designated as employee contributions 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 then-current percentage amount of the employee's mandatory School Teachers Retirement System of Ohio contribution which has been designated 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 School Teachers Retirement System of Ohio increased thereby.
STRS PICKUP. The Board shall contribute to STRS, in addition to the Board's required contribution, an amount equal to each certificated employee's contribution to STRS in lieu of payment to such employee, and that such amount contributed by the Board on behalf of the certificated employee shall be treated as a mandatory salary reduction from the contract salary otherwise payable to such certificated employee. The treasurer shall prepare and distribute an addendum to each certificated employee's contract which will state (1) that the employee's contract salary is being restated as consisting of (a) a cash salary component and (b) a pickup component, which is equal to the amount of the employee contribution being picked up by the Board on behalf of the employee; (2) that the Board will contribute to STRS an amount equal to the employee's required contribution to STRS for the account of each certificated employee; and (3) that sick leave, severance, vacation, supplemental, and extended service pay and insurance benefits which are indexed to or otherwise determinable by reference to the employee's rate of pay, shall be calculated upon both the cash salary component and pickup component of the employee's restated salary. Subsequent contracts and salary notices of certificated employees will conform to this provision.
STRS PICKUP. A. In accordance with Internal Revenue Service Rulings 77-462, 81-35 and 81-36, the Association and the Board agree the Board shall pick up each teacher’s mandatory contributions to the State Teachers Retirement System of Ohio (STRS), provided that no teacher’s total is increased by such pickup nor is the Board’s total contribution to STRS increased thereby. The dollar amount to be “picked up” by the Board:
1. Xxxxx equal the then-current percentage amount of the teacher’s mandatory STRS contribution;
2. Shall be credited by XXXX as employee contributions under authority of Ohio Attorney General Opinion 82-097;
3. Shall be included in computing final average salary;
4. Shall not be reported by the Board as subject to current federal and state income taxes;
5. Shall be reported by the Board as subject to city income taxes;
6. Shall not affect the calculation of a teacher’s rate of pay for any purpose whatsoever, including making salary adjustments because of absence, calculating severance pay, or in reporting teacher-authorized credit information to financial institutions. Each teacher will be responsible for compliance with Internal Revenue Service salary exclusion allowance regulations with respect to the “pickup” in combination with other tax deferred compensation plans.
STRS PICKUP. The Board herewith agrees to pickup (assume and pay) contributions to the State Teachers Retirement System on behalf of the teachers on the following terms and conditions:
1. The amount to be picked up and paid on behalf of each teacher shall equal the amount he/she is required to STRS to pay into his/her account. The teacher’s annual compensation shall be reduced by an amount equal to the amount picked up and paid by the Board.
2. The pickup percentage shall apply uniformly to all members of the bargaining unit.
STRS PICKUP. The Board will continue its STRS program for bargaining unit member contributions to STRS.
STRS PICKUP. All employee contributions to the State Teachers Retirement System, if any, will be picked-up by the Board on behalf of each employee in the bargaining unit on the following terms and conditions:
1. The amount to be picked-up and paid on behalf of each employee shall be the full amount of the employee's contribution towards STRS. The employee's annual compensation shall be reduced for purposes of State and Federal income tax only by an amount equal to that picked-up and paid by the Board.
2. The Board shall compute and remit its statutory required contributions to STRS based upon annual salary and/or earned compensation, which includes the amount of pick-up computed herein.
3. The pick-up percentage shall apply uniformly to all members of the bargaining unit as a condition of employment. No employee 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 leaves - sick leave, personal leave, professional leave; severance, vacation, supplemental and extended service pay and insurance benefits which are indexed to or otherwise determinable by reference to the employee's rate of pay shall be calculated based upon the employee's daily gross pay prior to any reduction for "pick-up" purposes (e.g. gross pay divided by the number of days in the individual's contract). If necessary, the Board Treasurer will prepare and distribute an addendum to each employee's contract, which states that the employee's salary consists of:
1. A cash component;
2. A pick-up component, which is equal to the amount of the employee's contribution being "picked-up" by the Board on behalf of the employee.
STRS PICKUP. 21.01 “Pick-up” of the employee’s contribution to the State Teacher’s Retirement System (STRS).
A. The Treasurer of the Board shall contribute to the State Teachers Retirement System (STRS), in addition to the Board’s required employer contribution, an amount equal to each employee’s contribution in lieu of payment to such employee. The amount contributed by the Board on behalf of the employee shall be treated as a mandatory salary reduction from the contract salary otherwise payable to such certified employees.
B. The total annual salary for each employee shall be the salary otherwise payable under their contracts. The total annual salary shall be Payable by the Board in two (2) parts: (1) deferred salary; and,
