Examples of Final Average Earnings in a sentence
Note: GMEBS has prescribed forms for calculation of Final Average Earnings that must be used for this purpose.
This definition of Final Average Earnings applies to: All Participants who are Regular Employees.
Unless otherwise specified in an Addendum to the Adoption Agreement, Final Average Earnings is defined as the monthly average of Earnings paid to a Participant by the Adopting Employer for the 60 (insert number not to exceed 60) consecutive months of Credited Service preceding the Participant's most recent Termination in which the Participant's Earnings were the highest, multiplied by 12.
Every employee shall join the Ontario Municipal Employees Retirement System Final Average Earnings Plan.
Notwithstanding the foregoing, if the Eligible Employee received salary for less than 15 days in a calendar month, the salary and overtime for that month shall not count and that month shall not count among the months to be averaged in determining Final Average Earnings.