Common use of S.T.R.S. SHELTER Clause in Contracts

S.T.R.S. SHELTER. (cont’d) 2. 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 (2) cash salary. An employee's deferred salary shall be equal to that percentage of said employee's total annual salary which is required by STRS to be paid as an employee contribution by said employee and shall be paid by the Board to STRS on behalf of said employee as a "pick-up" of the STRS employee contribution otherwise payable by the employee. An employee's cash salary shall be equal to said employee's total annual salary less the amount of the "pick-up" for said employee and shall be payable, subject to applicable payroll deductions, to said employee. 3. The Board's total combined expenditures for employee's total annual salaries otherwise payable under their contracts (including "pick-up" amounts) and its employer contribution to STRS shall not be greater than the amounts it would have paid for those items had this provision not been in effect. 4. The Board shall compute and remit its employer contributions to STRS based upon the total annual salary, including the "pick-up". The Board shall report for federal and Ohio income tax purposes as an employee's gross income said employee's total annual salary less the amount of the "pick-up". The Board shall report for municipal income tax purposes as an employee's gross income said employee's total annual salary, including the amount of the "pick-up". The Board shall compute income tax withholding based upon gross income as reported to the respective tax authorities. 5. The "pick-up" shall be included in the employee's total annual salary for the purpose of computing daily rate of pay, for determining salary adjustments to be made due to absence, or for any other similar purpose. 6. The "pick-up" shall be a uniform percent for all certified employees, and it shall apply to all payroll payments made after the effective date of this provision and shall not be at the individual employee's option.

S.T.R.S. SHELTER. (cont’d) 2. The total A. Total annual salary and salary per pay period for each employee shall be the salary otherwise payable under their contractsthis Agreement, as amended. The total annual salary and salary per pay period of each employee shall be payable by the Board in two (2) parts: (1) deferred salary and (2) cash salary. An employee's deferred salary shall be equal to that percentage of said employee's total annual salary or salary per pay period which is required required, from time to time by STRS the State Teachers' Retirement System ("STRS"), to be paid as an employee contribution by said employee and shall be paid by the Board to STRS on behalf of said employee as a "pick-up" of the STRS employee contribution otherwise payable by the said employee. An employee's cash salary shall be equal to said employee's total annual salary or salary per pay period less the amount of the "pick-up" up for said employee and shall be payable, subject to applicable payroll deductions, to said employee. 3. The Board's total combined expenditures for employee's employees' total annual salaries otherwise payable under their contracts this Agreement, as amended, (including "pick-up" up amounts) and its employer contribution contributions to STRS shall not be greater than the amounts it would have paid for those items had this provision not been in effect. 4. B. The Board shall compute and remit its employer contributions to STRS based upon the total annual salary, including the "pick-up". The Board shall report for federal and Ohio income tax purposes as an employeea member's gross income said employeemember's total annual salary less the amount of the "pick-up". The Board shall report for municipal income tax purposes as an employee's gross income said employee's total annual salary, including the amount of the "pick-up". The Board shall compute income tax withholding based upon gross income as reported to the respective tax taxing authorities. 5. C. The "pick-up" up shall be included in the employee's total annual salary 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, including extended time. 6. D. The "pick-up" shall be a uniform percent for all certified employees, and it up shall apply uniformly to all payroll payments made after the effective date of this provision and shall not be at the individual employee's option.