Alternative Flat Percentage Formula. (insert percentage) of Final Average Earnings multiplied by years of Total Credited Service as an Eligible Regular Employee. This formula applies to the following Participants (must specify - specific positions are permissible; specific individuals may not be named): .
Alternative Flat Percentage Formula of Final Average Earnings multiplied by years of Total Credited Service as an Eligible Regular Employee. This formula applies to the following Participants: All Participants who are Regular Employees who are in Service with the City on or after November 29, 2017, and who Terminate prior to July 1, 2018; provided, however, that for any Participant who was vested under the Plan as of April 15, 2005 under the formula in effect under Section 19A-2.2(a) of the predecessor defined benefit retirement plan immediately prior to April 16, 2005 (the Predecessor Plan), the monthly benefit shall not be less than the benefit to which said Participant would be entitled under the terms of the Predecessor Plan (See General Addendum subsection 15(c) for additional provisions concerning calculation of a comparative benefit under Predecessor Plan).
