Retirement Reporting Clause Samples
The RETIREMENT REPORTING clause requires parties to formally notify or document the retirement of certain assets, personnel, or obligations under the agreement. In practice, this may involve submitting written reports or updates when a key employee retires or when equipment is decommissioned, ensuring all parties are aware of such changes. The core function of this clause is to maintain transparency and accurate records, preventing misunderstandings or disputes about the status of resources or responsibilities.
Retirement Reporting. Contractor must reveal to ▇▇▇▇▇ if any of the Contractor’s employees working under this Contract have retired from the California State Teachers’ Retirement System (“CalSTRS”) or the California Public Employees’ Retirement System (“CalPERS”). Under California Education Code Section 24214 and 24214.5, there are postretirement limitations on earnings if Contractor’s employees have retired from CalSTRS and hours worked limitations if Contractor’s employees have retired from CalPERS. If Contractor’s employees have retired from either CalSTRS or CalPERS, Contractor should be aware that LACOE must report all payments under this and any additional Agreements in any given year.
Retirement Reporting. 1) STRS/PERS - ExED will timely submit monthly the required information to the local county office of education or the designated 3rd party administrator. The retirement division at the county office of education will then forward the information to CalSTRS/CalPERS. Reports submitted will be based on employee and payroll data provided by the Client unless Client does not provide required data. If Client does not provide the required employee and payroll data, ExED will use its knowledge of the respective retirement program to report the necessary information but cannot guarantee it will comply with all retirement program requirements. ExED will coordinate remittance of STRS/PERS contributions with the county office of education accounting department via check, ACH or debit from Client’s apportionment account.
2) Other retirement plans (e.g., 403B, 401K, 457, etc.) – ExED will process appropriate deductions for employees upon receipt of appropriate paperwork from the Client. ExED will submit payment to the applicable retirement company based on Client payroll schedule.
Retirement Reporting. In determining whether an Employee subject to this Agreement is eligible for participation in the Washington State Public Employees Retirement System, the District shall report all hours worked, whether straight time, overtime or otherwise.
Retirement Reporting. 1) STRS/PERS
(a) Submit monthly the required information to the local county office of education or the designated 3rd party administrator and comply with all retirement program requirements. This shall also include coordinating the remittance of STRS/PERS contributions with the accounting department at the county office of education.
(b) Calculate and report all retirement benefits for STRS and PERS in alignment with the information provided by Client based on employee and payroll data provided by the Client unless Client does not provide the required data. If Client does not provide the required employee and payroll data, ExED will use its knowledge of the respective retirement program to report the necessary information but cannot guarantee it will comply with all retirement program requirements.
(c) ExED will coordinate remittance of STRS/PERS contributions with the county office of education accounting department via check, ACH or debit from Client’s apportionment account.
2) Other retirement plans (e.g., 403B, 401K, 457, etc.) – ExED will process appropriate deductions for employees upon receipt of appropriate paperwork from the Client. ExED will submit payment to the applicable retirement company based on Client payroll schedule.
Retirement Reporting. 1) STRS/PERS - ExED will timely submit monthly the required information to the local county office of education or the designated 3rd party administrator. The retirement division at the county office of education will then forward the information to CalSTRS/CalPERS. ExED will coordinate remittance of STRS/PERS contributions with the county office of education accounting department via check, ACH or debit from Client’s apportionment account.
2) 403B – ExED will process appropriate deductions for employees upon receipt of appropriate paperwork from the Client. ExED will submit payment to the applicable retirement company based on Client payroll schedule.
Retirement Reporting. 1) STRS/PERS - ExED will timely submit monthly the required information to the local county office of education or the designated 3rd party administrator. The retirement division at the county office of education will then forward the information to CalSTRS/CalPERS. ExED will coordinate remittance of STRS/PERS contributions with the county office of education accounting department via check, ACH or debit from Client’s apportionment account.
2) Other retirement plans (e.g., 403B, 401K, 457, etc.) – ExED will process appropriate deductions for employees upon receipt of appropriate paperwork from the Client. ExED will submit payment to the applicable retirement company based on Client payroll schedule.
Retirement Reporting. The District shall report all hours worked to the Washington Department of Retirement Systems so that eligibility for participation can be determined.
Retirement Reporting a. Process and submit monthly STRS and PERS reports to the third-party administrator or directly to ▇▇▇▇▇▇▇ and CalPERS
b. Submit payment via ACH or live check within the timeframe as requested
c. Work directly with the County Office of Education and CalSTRS/CalPERS related to questions and required supplemental reporting such as: i. F496 files to SEW (if applicable)
Retirement Reporting. Contracting Entity must disclose to LACOE if any of Contracting Entity’s employees working under this Contract have retired from the California State Teachers’ Retirement System (“CalSTRS”) or the California Public Employees’ Retirement System (“CalPERS”). Pursuant to California Education Code Section 24214 and 24214.5, there are postretirement limitations on earnings if Contracting Entity’s employees have retired from CalSTRS and hours worked limitations if Contracting Entity’s employees have retired from CalPERS. If Contracting Entity’s employees have retired from either CalSTRS or CalPERS, Contracting Entity should be aware that LACOE is required to report all payments under this and any additional Agreements in any given year.