| McComb Local School District |
| Bylaws & Policies |
4400.01 - "PICK-UP" OF SERS RETIREMENT CONTRIBUTIONS
The Board of Education will pick-up, utilizing the salary reduction method, contributions to the School Employees Retirement System paid upon behalf of all classified personnel, at no cost to the Board under the following terms and conditions:
| A. | The amount of the "pick-up" on behalf of each employee shall be 8.75 percent of the employees gross annual compensation or such higher rates as may be imposed by the School Employees Retirement System employee contributions. | |
| The employees annual compensation shall be reduced by an amount equal to the amounts "pick-up" by the Board for the State and Federal tax only. | ||
| B. | Shall be uniformly applied to all classified personnel. | |
| C. | The "pick-up" shall become effective with the April 13, 1984, payroll and shall apply to all compensation including supplemental earnings. | |
| D. | Payment for all paid leaves, sick leave, personal leave, severance, and supplemental including unemployment and workman's compensation shall be based on the employee's daily gross pay prior to reduction as basis. (e.g., gross pay divided by number of days in an employee's contract.) |
Each employee will be responsible for compliance with Internal Revenue Service salary exclusive allowance with respect to the "pick-up" and combination with other tax deferred compensation plan.
If the foregoing "pick-up" provisions are nullified by subsequent Internal Revenue Service ruling, Ohio Attorney General opinion, or other governing regulation, the Board will be held harmless and this article of agreement shall be declared null and void.