Common use of Final Average Compensation Clause in Contracts

Final Average Compensation. The employee's best two (2) years of credited service earnings prior to separation of employment shall be computed as final average compensation for retiring employees. Disability leave benefits, Worker's Compensation payments (weekly payments only) and layoff benefits shall be included when figuring final average compensation and credited service, contingent upon the employee's contribution of seven percent (7%), of the compensation received within twelve (12) months of return from such leave or layoff.

Final Average Compensation. The employee's best two (2) years of credited service earnings prior to separation of employment shall be computed as final average compensation for retiring employees. Disability leave benefits, Worker's Compensation payments (weekly payments only) and layoff benefits shall be included when figuring final average compensation and credited service, contingent upon the employee's contribution of seven one-half percent (7.5%), ) of the compensation benefits received within twelve (12) months of return from such leave or layoff.

Final Average Compensation. The employee's best two (2) years of credited service earnings prior to separation of employment shall be computed as final average compensation for retiring employees. Disability leave benefits, Worker's Compensation payments (weekly payments only) and layoff benefits shall be included when figuring final average compensation and credited service, contingent upon the employee's contribution of seven two percent (72%), or six and one-half percent (6.5%) for employees hired on or after January 1, 2000, of the compensation received within twelve (12) months of return from such leave or layoff.

Final Average Compensation. ‌ The employee's best two (2) years of credited service earnings prior to separation of employment shall be computed as final average compensation for retiring employees. Disability leave benefits, Worker's Compensation payments (weekly payments only) and layoff benefits shall be included when figuring final average compensation and credited service, contingent upon the employee's contribution of seven one-half percent (7.5%), ) of the compensation benefits received within twelve (12) months of return from such leave or layoff.