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TRS Retirement Shelter Sample Clauses

TRS Retirement Shelter. For the 2010-2011 school year and thereafter the Board shall pay to TRS for and on behalf of each teacher a portion of the teacher's retirement contribution equal to nine and four-tenths percent (9.4%) of the teacher's total creditable earnings (base pay, extra duty pay/coaching stipend, and/or any other creditable earnings recognized by TRS). Example: Salary schedule and extra-duty/coaching stipend amount Add on factor Creditable earnings 9.4% contribution Contribution amount to be remitted to TRS Contribution to be paid by Board Contribution to be paid by Teacher $10,000.00 x 1.103753 $11,037.53 x .094 $ 1,037.53 $ 1,037.53 $ 0.00
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Related to TRS Retirement Shelter

  • Pre-Retirement Counseling Leave Each employee within four (4) years of chosen retirement age or date shall be granted, on a one-time basis, up to three and one-half (3-1/2) days leave with pay to pursue bona fide pre-retirement programs. Employees shall request the use of leave provided in this Section at least five (5) days prior to the intended day of use.

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