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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Sources: Master Agreement, Master Agreement