Common use of TEACHERS’ RETIREMENT SYSTEM CONTRIBUTION Clause in Contracts

TEACHERS’ RETIREMENT SYSTEM CONTRIBUTION. In addition to the salary paid to the ADMINISTRATOR by the BOARD as expressed in Section 3, the BOARD shall pick up and pay on the ADMINISTRATOR'S behalf, the ADMINISTRATOR'S entire contribution to the Illinois Teachers' Retirement System (“TRS”) pursuant to the Illinois Pension Code. It is the intention of the parties to qualify all such payments picked up and paid by the BOARD on the ADMINISTRATOR'S behalf as employer payments pursuant to Section 414(h) of the Internal Revenue Code of 1986, as amended. The ADMINISTRATOR shall have no right or claim to the funds so remitted except as they may subsequently become available upon retirement or resignation from TRS. The ADMINISTRATOR does not have the option of choosing to receive the contributed amounts directly instead of having those contributions paid by the BOARD to TRS. These contributions are made as a condition of the ADMINISTRATOR'S employment for the ADMINISTRATOR’S future service, knowledge and experience.

TEACHERS’ RETIREMENT SYSTEM CONTRIBUTION. In addition to the salary gross compensation paid to the ADMINISTRATOR Administrator by the BOARD Board as expressed in Section 3this Agreement, the BOARD Board shall pick up and pay on the ADMINISTRATOR'S Administrator’s behalf, three percent (3%) of the ADMINISTRATOR'S entire Administrator’s annual retirement contribution to the Illinois Teachers' ’ Retirement System (“TRS”) pursuant to the Illinois Pension Code. It is the intention of the parties to qualify all such payments picked up and paid by the BOARD Board on the ADMINISTRATOR'S Administrator’s behalf as employer payments pursuant to Section 414(h) of the Internal Revenue Code of 1986, as amended. The ADMINISTRATOR Administrator shall have no right or claim to the funds so remitted except as they may subsequently become available upon retirement or resignation from TRSthe Illinois Teachers’ Retirement System. The ADMINISTRATOR Administrator does not have the option of choosing to receive the contributed amounts directly instead of having those contributions paid by the BOARD Board to TRSthe Illinois Teachers’ Retirement System. These contributions are made as a condition of the ADMINISTRATOR'S Administrator’s employment for the ADMINISTRATOR’S his future service, knowledge and experience.

TEACHERS’ RETIREMENT SYSTEM CONTRIBUTION. In addition to the salary paid to the ADMINISTRATOR by the BOARD as expressed in Section 34, the BOARD shall pick up and pay on the ADMINISTRATOR'S behalf, the ADMINISTRATOR'S entire contribution to the Illinois Teachers' Retirement System (“TRS”) pursuant to the Illinois Pension Code. It is the intention of the parties to qualify all such payments picked up and paid by the BOARD on the ADMINISTRATOR'S behalf as employer payments pursuant to Section 414(h) of the Internal Revenue Code of 1986, as amended. The ADMINISTRATOR shall have no right or claim to the funds so remitted except as they may subsequently become available upon retirement or resignation from TRS. The ADMINISTRATOR does not have the option of choosing to receive the contributed amounts directly instead of having those contributions paid by the BOARD to TRS. These contributions are made as a condition of the ADMINISTRATOR'S employment for the ADMINISTRATOR’S future service, knowledge and experience.