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.
Appears in 7 contracts
Samples: Collective Bargaining Agreement, Master Agreement, Collective Bargaining Agreement
