Examples of Average Monthly Compensation in a sentence
The monthly dismissal allowance shall be equivalent to the Average Monthly Compensation received by the Dismissed Employee in the last twelve (12) months of employment prior to the employee’s dismissal.
If a Dismissed Employee accepts new employment (or reemployment by the dismissing Railroad) during the Protective Period, the dismissal allowance shall be reduced such that the accepted monthly compensation at the then-current position (including any unemployment insurance compensation received) plus the dismissal allowance is equivalent to the Dismissed Employee’s Average Monthly Compensation.
Final Average Monthly Compensation for pension calculations excludes differentials and will, therefore, be calculated solely on the base wage rate.
If a Displaced Employee’s compensation in that employee’s retained position is less in any month in which such employee performs work than the Average Monthly Compensation, then the Displaced Employee shall be paid the difference between the current compensation and the Average Monthly Compensation.
Final Average Monthly Compensation (FAMC) is defined as the nurse’s average monthly compensation of the highest sixty (60) consecutive months of compensation out of the last one hundred twenty (120) months of employment.