Common use of Virginia Retirement System Clause in Contracts

Virginia Retirement System. (“VRS”). The Charter School’s employer contributions for VRS for LCPS employees along with the LCPS employee’s share will be deducted in accordance with paragraph 29.2 and remitted to VRS. If for any reason, the local, state and federal tax-exempt status of the VRS and/or the School Board and/or the tax-exempt participation in VRS by Charter School employees (whether or not LCPS employees) should be in doubt to any extent whatsoever and for any reason, as determined by the School Board, then the parties shall re-negotiate this Agreement. The School Board makes no representation, however, regarding the right of any Charter School employee who is not also an LCPS employee to participate in VRS. For all non-LCPS employees employed by the Charter School, the Charter School will indemnify and hold harmless the School Board, its employees, and agents from any and all loss, claims, penalties or damages arising out of any matter related to the coverage or participation of Charter School employees who are not also LCPS employees in VRS. This paragraph shall survive the expiration of this Agreement.

Virginia Retirement System. (“VRS”). The Charter School’s employer contributions for VRS for LCPS employees along with the LCPS employee’s share will be deducted in accordance with paragraph 29.2 and remitted to VRS. If for any reason, the local, state and federal tax-exempt status of the VRS and/or the School Board and/or the tax-exempt participation in VRS by Charter School employees (whether or not LCPS employees) should be in doubt to any extent whatsoever and for any reason, as determined by the School Board, then the parties shall re-negotiate this Agreement. The School Board makes no representation, however, regarding the right of any Charter School employee who is not also an LCPS employee to participate in VRS. For all non-LCPS employees employed by the Charter School, the Charter School will indemnify and hold harmless the School Board, its employees, and agents from any and all loss, claims, penalties or damages arising out of any matter related to the coverage or participation of Charter School employees who are not also LCPS employees in VRS. This paragraph shall survive the expiration of this Agreement.. [36]