Common use of STRS Service Credit Buy-Back by Payroll Deduction Clause in Contracts

STRS Service Credit Buy-Back by Payroll Deduction. The Board will make available payroll deduction for bargaining unit member buy-back of qualifying STRS credit in compliance with Section 3307.281 of the Ohio Revised Code, STRS rules, and IRS requirements. All members who wish to purchase or restore credit through payroll deduction must do so pursuant to this Section of the Agreement. The deduction shall occur with the first two (2) pays of the month in an amount designated in writing by the member and filed with the Treasurer. All such deductions shall be accounted for as “after tax” contributions.

STRS Service Credit Buy-Back by Payroll Deduction. The Board will make available payroll deduction for bargaining unit member employee buy-back of qualifying STRS credit in compliance with Section 3307.281 3307.70 of the Ohio Revised Code, STRS rules, and IRS requirements. All bargaining unit members who wish to purchase or restore credit through payroll deduction must do so pursuant to this Section of the AgreementSection. The deduction shall occur with from the first two (2) pays of the pay in each month in an amount designated in writing by the member and filed with the Treasurer. All such deductions shall be accounted for as “after tax” contributions.