Common use of Retirement Reporting Clause in Contracts

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.