Common use of STRS PICKUP Clause in Contracts

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.