Accrual Rate. Employees will earn their pension with an accrual rate of 2.5% for each year of service, subject to a cap of 75% of Final Average Compensation.
Appears in 9 contracts
Sources: Retirement Reform Agreement, Retirement Reform Agreement, Retirement Reform Agreement
Accrual Rate. Employees will earn their pension with an accrual rate of 2.53% for the first 20 years of service then 2% for each additional year of service, subject to service with a cap maximum of 7580% of Final Average Compensation.
Appears in 9 contracts
Sources: Retirement Reform Agreement, Retirement Reform Agreement, Retirement Reform Agreement