Common use of TRS CONTRIBUTION Clause in Contracts

TRS CONTRIBUTION. In addition to the base salary provided for in this contract, the Board shall pick up and pay, on behalf of the Administrator, the employee retirement contribution to the Illinois Teachers’ Retirement System (TRS) under Section 16-152.1 of the Illinois Pension Code and the Teachers’ Health Insurance (THIS) Fund contributions paid to TRS as required by 5 ILCS 375/6.6, as specified in the Certified Administrative Fringe Benefits listing attached as Exhibit 2 (as well as the TRS factor applicable to the TRS employee contribution specified therein). Unless otherwise determined by the Board, the Board shall pick up and pay any additional contribution to TRS as a deduction from the Administrator’s salary. Any modification to the salary and benefits pursuant to this provision of the agreement shall be an implementation of this provision of this contract and shall not constitute or require an amendment to this contract. 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 and other applicable law. 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 the Illinois Teachers’ Retirement System. 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 the Illinois Teachers’ Retirement System. These contributions are made as a condition of the Administrator’s employment for his service, knowledge and experience.

TRS CONTRIBUTION. In addition to the base salary provided for in this contract, the Board shall pick up and pay, on behalf of the Administrator, the employee retirement contribution to the Illinois Teachers’ Retirement System (TRS) under Section 16-152.1 of the Illinois Pension Code and the Teachers’ Health Insurance (THIS) Fund contributions paid to TRS as required by 5 ILCS 375/6.6, as specified in the Certified Administrative Fringe Benefits listing attached as Exhibit 2 (as well as the TRS factor applicable to the TRS employee contribution specified therein). Unless otherwise determined by the Board, the Board shall pick up and pay any additional contribution to TRS as a deduction from the Administrator’s salary. Any modification to the salary and benefits pursuant to this provision of the agreement shall be an implementation of this provision of this contract and shall not constitute or require an amendment to this contract. 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 and other applicable law. 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 the Illinois Teachers’ Retirement System. 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 the Illinois Teachers’ Retirement System. These contributions are made as a condition of the Administrator’s employment for his her service, knowledge and experience.

TRS CONTRIBUTION. In addition to the base salary (including Doctoral Stipend) provided for in this contract, the Board shall pick up and pay, on behalf of the Administrator, the employee retirement contribution to the Illinois Teachers’ Retirement System (TRS) under Section 16-152.1 of the Illinois Pension Code and the Teachers’ Health Insurance (THIS) Fund contributions paid to TRS as required by 5 ILCS 375/6.6, as specified in the Certified Administrative Fringe Benefits listing attached as Exhibit 2 (as well as the TRS factor applicable to the TRS employee contribution specified therein). Unless otherwise determined by the Board, the Board shall pick up and pay any additional contribution to TRS as a deduction from the Administrator’s salary. Any modification to the salary and benefits pursuant to this provision of the agreement shall be an implementation of this provision of this contract and shall not constitute or require an amendment to this contract. 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 and other applicable law. 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 the Illinois Teachers’ Retirement System. 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 the Illinois Teachers’ Retirement System. These contributions are made as a condition of the Administrator’s employment for his service, knowledge and experience.