Common use of TRS Payment Clause in Contracts

TRS Payment. 1. The Board shall remit for each Bargaining Unit member a portion of such Bargaining Unit Members’ compensation due such Bargaining Unit Member pursuant to the Compensation Schedule of this Agreement to the Illinois Teacher's Retirement System to be applied for the retirement account of such Bargaining Unit Member (rather than survivor's annuity account). The Bargaining Unit Members have no right or claim to moneys so remitted except as it may subsequently become available upon retirement or resignation from the Illinois Teacher's Retirement System.