STRS Pick Clause Samples

The "STRS Pick" clause designates which party is responsible for selecting the specific Security Token Reference Structure (STRS) to be used in a transaction or agreement. In practice, this clause clarifies whether the buyer, seller, or another party has the authority to choose the format or type of security token reference, which can affect how digital assets are identified and transferred. By clearly assigning this responsibility, the clause helps prevent disputes over token selection and ensures that both parties understand the technical framework governing the transaction.
STRS Pick. Up The Board herewith agrees to pick-up (assume and pay) premiums to the STRS on behalf of the members in the bargaining unit under the following terms and conditions: a. An amount shall be picked up and paid on behalf of each member equal to five percent (5%) of the member’s compensation without reduction or deduction from the member’s gross salary. Compensation, as used in this article, will be defined to include regular salary earnings, extended and supplemental salary earnings, and the amount of the STRS pick-up as described in this Part a; b. The remainder of member’s STRS premium (currently 5.00%) shall be picked up and paid by the Board by reducing the annual compensation of the member by an amount equal to that picked up and paid as a result of this Part b; c. The Board shall compute and remit all applicable premiums to STRS based on the combination and total of “a” and “b” above; d. The total pick-up percentage shall apply uniformly to all members and no member covered by this provision shall have the option to elect a wage increase or other benefit in lieu of the employer pick-up; e. The pick-up shall apply to all compensation including gross salary, supplemental earnings, and the appropriate premium pick-up (Part a above) earned thereafter; f. For IRS purposes only, annual compensation listed on the W-2 form shall be the member’s annual compensation reduced by 5.00% (currently) or as may be otherwise required by this provision.
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STRS Pick. Up with Reduction - The Board herewith agrees with the Association to pickup (assume and pay) contributions to the State Teachers' Retirement System (STRS) on behalf of the individuals in the bargaining unit on the following terms and conditions: 1. The amount to be picked up and paid on behalf of the individual shall be the employee's contribution. The individual's annual compensation shall be reduced by an amount equal to the amount picked-up and paid by the Board. 2. The pick-up percentage shall apply uniformly to all individuals in the bargaining unit. 3. No individual covered by this provision shall have the option to elect a wage increase or other benefit in lieu of the employer pick-up. 4. The pick-up shall apply to all compensation including supplemental earnings. 5. For federal and state tax purposes, the W-2 form shall show the total amount of compensation reduced by the employee's contribution. For STRS purposes the total amount of compensation shall not be reduced. 6. STRS pick-up shall in no way affect unemployment compensation, sick leave, worker's compensation, severance pay, daily rate of pay or any other calculation based on the salary schedules contained in Article XXV.
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STRS Pick. Up 2 3 The Board agrees to pick-up the employee's contribution to the STRS using the salary 4 reduction method of pick-up. 5
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Related to STRS Pick

  • Compressed Work Week The Company and Union recognize the concept of the compressed work week. It is further understood that the compressed work week conditions will apply only to those departments that are on the compressed work week.

  • Classroom Management The certificated classroom teacher demonstrates a competent level of knowledge 48 and skill in organizing the physical and human elements in the educational setting. 49

  • Contact Points Each Party shall designate a contact point to facilitate communications between the Parties on any matter covered by this Agreement.

  • Checkoff A. In conformity with Section 2 of the Act, 39 U.S.C. 1205, without cost to the Union, the Employer shall deduct and remit to the Union the regular and periodic Union dues from the pay of employees who are members of the Union, provided that the Employer has received a written assignment which shall be irrevo- cable for a period of not more than one year, from each employee on whose account such deductions are to be made. The Employer agrees to remit to the Union all deductions to which it is entitled fourteen (14) days after the end of the pay period for which such deductions are made. Deductions shall be in such amounts as are designated to the Employer in writing by the Union. B. The authorization of such deductions shall be in the fol- lowing form: I hereby assign to the National Association of Letter Carriers, AFL- CIO, from any salary or wages earned or to be earned by me as your employee (in my present or any future employment by you) such regular and peri- odic membership dues as the Union may certify as due and owing from me, as may be established from time to time by said Union. I authorize and direct you to deduct such amounts from my pay and to remit same to said Union at such times and in such manner as may be agreed upon between you and the Union at any time while this authori- zation is in effect, which includes a $8.00 yearly subscrip- tion to the Postal Record as part of the membership dues. Notice: Contributions or gifts to the National Association of Letter Carriers, AFL-CIO are not tax deductible as charitable contributions for Federal income tax purposes. However, they may be tax deductible under other provi- sions of the Internal Revenue Code. This assignment, authorization and direction shall be irrevocable for a period of one (1) year from the date of delivery hereof to you, and I agree and direct that this assignment, authorization and direction shall be automatically renewed, and shall be irrevocable for suc- cessive periods of one (1) year, unless written notice is given by me to you and the Union not more than twenty

  • Dewatering (a) Where the whole of a site is so affected by surface water following a period of rain that all productive work is suspended by agreement of the Parties, then dewatering shall proceed as above with Employees so engaged being paid at penalty rates as is the case for safety rectification work. This work is typically performed by Employees engaged within CW1, CW2 or CW3 classifications. When other Employees are undertaking productive work in an area or areas not so affected then dewatering will only attract single time rates. (b) Where a part of a site is affected by surface water following a period of rain, thus rendering some areas unsafe for productive work, consistent with the Employer’s obligations under the OH&S Act, appropriate Employees shall assist in the tidying up of their own work site or area if it is so affected. Where required, appropriate Employees will be provided with the appropriate PPE. Such work to be paid at single time rates. Productive work will continue in areas not so affected. (c) To avoid any confusion any ‘dewatering’ time which prevents an Employee from being engaged in their normal productive work is not included in any calculation for the purposes of determining whether an Employee is entitled to go home due to wet weather (refer clauses 32.4 and 32.5)