Accrual Rate. Employees will earn their pension with an accrual rate of 3% for the first 20 years of service then 2% for each additional year of service with a maximum of 80% of Final Average Compensation.
Appears in 6 contracts
Samples: Retirement Reform Agreement, Retirement Reform Agreement, 2014 Retirement Reform Agreement
Accrual Rate. Employees will earn their pension with an accrual rate of 3% for the first 20 years of service then 22.5% for each additional year of service with service, subject to a maximum cap of 8075% of Final Average Compensation.
Appears in 6 contracts
Samples: Retirement Reform Agreement, Retirement Reform Agreement, 2014 Retirement Reform Agreement
