STRS PICKUP UTILIZING Sample Clauses

STRS PICKUP UTILIZING. THE SALARY REDUCTION METHOD The Board shall designate each employee’s mandatory contributions to the State Teachers Retirement System of Ohio as “picked up” by the Board as contemplated by Internal Revenue Service Rulings 77-464 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 the then current percentage amount of the employee’s mandatory State 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 State Teachers Retirement System of Ohio increased thereby.
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  • STRS PICK-UP A. The Board shall pick-up contributions to the State Teachers’ Retirement System paid on behalf of the employees in the bargaining unit utilizing the salary reduction method under the following terms and conditions:

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