Examples of Final Average Monthly Compensation in a sentence
Final Average Monthly Compensation for pension calculations excludes differentials and will, therefore, be calculated solely on the base wage rate.
Notwithstanding the foregoing, in calculating the amount of the Primary Benefit, Final Average Monthly Compensation shall be computed in accordance with Subsection 1.22.
Such benefit payments shall, upon resumption, be adjusted to reflect any change in Credited Service and Final Average Monthly Compensation caused by such additional period of Employment; provided, however, that such adjustment shall not result in a decrease in such Participant’s retirement benefit.
In addition, his Final Average Monthly Compensation was $3,000 and his Covered Compensation was $2,000 a month.
Notwithstanding the previous sentence, in no event shall the monthly benefit under the formula described in this Section exceed 75% of the Member’s Final Average Monthly Compensation.