Whereas Internal Revenue Code (IRC) Section (414)(h)(2) permits employer "pick-up" of the employees portion of contributions to a retirement plan, thereby resulting in tax deferral of employee contributions.

Whereas under the State Teachers Retirement System of Ohio (STRS) laws and rules, members may: (1) redeposit contributions previously withdrawn plus interest, and/or (2) purchase eligible service credit.

Now therefore be it resolved that in order to permit tax deferral for these additional amounts, any employee who wishes to purchase or restore STRS credit by payroll deduction must enter into a binding irrevocable payroll deduction authorization and such employee shall not have the option of choosing to receive the amounts directly instead of having them paid by the employer to STRS.

Be it further resolved that additional amounts herein specified, through payroll deduction from salary, are designated as being picked up by the employer and paid by the employer in accordance with Internal Revenue Code requirements.

This resolution adopted by The Willard Board of Education shall have an effective date of October 16, 2000.

Adopted 8/14/00