TRS and THIS Contributions. In addition to the annual salary stated in paragraph A.1 of this contract, the Board shall make a contribution on behalf of the Administrator to the State of Illinois Teachers' Retirement System (TRS) in the amount of 9.4% of the Administrator’s creditable earnings in satisfaction of the Administrator's required contribution to TRS. In addition, the Board shall pay the Administrator’s required contribution to TRS for Teacher Retirees’ Health Insurance [“THIS”]. It is the intention of the parties to qualify all such payments 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 does not have any right or claim to said amounts except as they may become available at the time of retirement or resignation from the State of Illinois Teachers’ Retirement System. Both parties acknowledge that the Administrator did not have the option of choosing to receive the contributed amounts directly, instead of having such contributions paid by the Board to the State of Illinois Teachers' Retirement System, and that such contributions are made as a condition of employment to secure the Administrator's future services, knowledge and experience.
TRS and THIS Contributions. All employees covered by this Agreement shall have the legally required member contributions deducted from their annual gross salary and contributed by the Board directly to the State of Illinois Teacher Retirement System and Teachers Health Insurance Security Fund, respectively.
TRS and THIS Contributions. In 2007-2008 the Board shall pay seven and six tenths percent (7.6%) and deduct one & eight tenths percent (1.8%) from the teachers’ total creditable earnings of the nine four tenths percent (9.4%)
TRS and THIS Contributions. In addition to the annual salary stated in paragraph A.1 and all other TRS creditable earn- ings within this contract, the Board shall make a contribution on behalf of the Superinten- dent to the State of Illinois Teachers' Retirement System (TRS) in satisfaction of the Su- perintendent’s required retirement contribution to TRS. In addition, the Board shall pay the Superintendent’s required contribution to TRS for Teacher Retirees’ Health Insurance (THIS). It is the intention of the parties to qualify all such payments paid by the Board on the Superintendent’s behalf as employer payments pursuant to Section 414(h) of the Internal Revenue Code of 1986, as amended. The Superintendent does not have any right or claim to said amounts except as they may become available at the time of retire- ment or resignation from the State of Illinois Teachers’ Retirement System. Both parties acknowledge that the Superintendent did not have the option of choosing to receive the contributed amounts directly, instead of having such contributions paid by the Board to the State of Illinois Teachers’ Retirement System, and that such contributions are made as a condition of employment to secure the Superintendent’s future services, knowledge, and experience. However, if legislation is enacted that limits the employer’s ability to perform its obliga- tions or otherwise reduces its obligations under this paragraph, the Board shall pay the difference to the Superintendent as salary to the extent the Board’s total cost for salary and pick up of the TRS and THIS contribution equals the Board’s total cost before enact- ment of such legislation. The Board’s and Superintendent's implementation herein shall be in implementation of this provision of this Contract and shall not constitute or require an amendment to this Contract.
TRS and THIS Contributions. The total compensation to be paid for and on behalf of the Assistant Superintendent for Student Services as stated in paragraph A.1 is the aggregate of the basic sum the Board is to pay to the Assistant Superintendent for Student Services, withholding as required by law or authorized by the Employee, including the Assistant Superintendent for Student Services' contribution to the State of Illinois Teachers' Retirement System (TRS) in the amount equal to and in satisfaction of the Assistant Superintendent for Student Services' statutory contribution to TRS, and the Assistant Superintendent for Student Services' required contribution to TRS for Teacher Retirees' Health Insurance (THIS). The Assistant Superintendent for Student Services does not have any right or claim to said amounts contributed by the Board on the Assistant Superintendent for Student Services' behalf except as they may become available at the time of retirement or resignation from TRS. Both parties acknowledge that the Assistant Superintendent for Student Services does not have the option of choosing to receive the contributed amounts directly, instead of having such contributions paid to TRS, and that such contributions are made as a condition of employment to secure the Assistant Superintendent for Student Services' future services, knowledge, and experience.
