Final Average Earnings means (a) divided by (b) as follows:
Final Average Earnings means the earnings used to determine benefits under this Plan as further described in Article 7.
Final Average Earnings means the Officer’s average monthly Earnings for the three consecutive calendar years out of the Officer’s last ten calendar years of employment with the Company that yields the highest average.
Examples of Final Average Earnings in a sentence
Actual lump sums may be higher or lower depending on the mortality table and interest rate in effect at the time of distribution and the participant’s Final Average Earnings at his date of retirement.
Every employee shall join the Ontario Municipal Employees Retirement System Final Average Earnings Plan.
Note: GMEBS has prescribed forms for calculation of Final Average Earnings that must be used for this purpose.
The basic pension plan is the Final Average Earnings plan implemented January (as amended).
Highest 36 months of salary during last 10 years of Creditable Service would be averaged to determine Final Average Earnings.
More Definitions of Final Average Earnings
Final Average Earnings means the annual average of the Member's Basic Salary in the 60 months of Service when such Basic Salary was highest during the 12 years prior to the date of death, retirement or termination of employment.
Final Average Earnings means the sum of (i) the Participant's or Eligible Participant's highest base salary in effect during any calendar year preceding his termination of employment, including the year in which such termination occurs, and (ii) the Participant's or Eligible Participant's highest annual bonus payable with respect to any calendar year preceding his termination of employment, including the year in which such termination occurs.
Final Average Earnings. The current definition of the term "Final Average Earnings" in Section 1.12 of the SERP is hereby deleted in its entirety and the following is substituted in lieu thereof:
Final Average Earnings in Section 1.12 of the SERP is hereby deleted in its entirety and the following is substituted in lieu thereof:
Final Average Earnings means the average base salary plus bonus earned by the Participant or Eligible Participant during the three complete calendar years preceding termination of employment (for whatever reason).
Final Average Earnings means the average of the highest annual Considered Compensation received by a Participant during the three calendar years out of the current and preceding five calendar years during which his considered Compensation was the highest. At any point in time, Final Average Earnings shall be computed to the date of determination by taking into account actual Considered Compensation during the current calendar year (with annualization) and the five preceding calendar years.
Final Average Earnings means the average of the highest thirty-six (36) consecutive months Compensation during the last sixty (60) month period of an Employee’s employment with the Company.