Common use of Benefit Accrual and Amounts Clause in Contracts

Benefit Accrual and Amounts. 1. Effective July 1, 1990, employees covered by this Agreement shall commence participation in a supplemental retirement benefit program, jointly funded through County and employee contributions. The rate of accrual and amount of the benefit payable under this program is determined as follows: a. Benefit accrual is at the rate of six-tenths of one percent (0.6%) times the number of years of actual and continuous service the employee has completed as a full-time Prince George's County Correctional Officer, to a maximum of twenty-five (25) years of actual and continuous service, multiplied by the employee's average annual compensation, as determined pursuant to Section 5. b. Pursuant to paragraph 1, above, the maximum benefit payable to any eligible employee is fifteen percent (15%) of the employee's average annual compensation, as determined pursuant to Section 5.

Benefit Accrual and Amounts. 1. A. Effective July 1June 30, 19901985, employees covered by this Agreement shall commence participation in a supplemental retirement benefit program, jointly funded through County and employee contributions. The rate of accrual and amount of the benefit payable under this program is determined as follows: a. 1. Benefit accrual is at the rate of six-four tenths of one percent (0.60.4%) times the number of years of actual and continuous service the employee has completed as a full-time Prince GeorgeXxxxxx's County Correctional OfficerDeputy Sheriff, to a maximum of twenty-five (25) years of actual and continuous service, multiplied by the employee's average annual compensation, as determined pursuant to Section 55.05. b. 2. Pursuant to paragraph subparagraph 1, above, the maximum benefit payable to any eligible employee is fifteen ten percent (1510%) of the employee's average annual compensation, as determined pursuant to Section 57.05.

Benefit Accrual and Amounts. 1. Effective July 1, 1990, employees covered by this Agreement shall commence participation in a supplemental retirement benefit program, jointly funded through County and employee contributions. The rate of accrual and amount of the benefit payable under this program is determined as follows: a. Benefit accrual is at the rate of six-tenths of one percent (0.6%) times the number of years of actual and continuous service the employee has completed as a full-time Prince GeorgeXxxxxx's County Correctional Officer, to a maximum of twenty-five (25) years of actual and continuous service, multiplied by the employee's average annual compensation, as determined pursuant to Section 5. b. Pursuant to paragraph 1, above, the maximum benefit payable to any eligible employee is fifteen percent (15%) of the employee's average annual compensation, as determined pursuant to Section 5.

Benefit Accrual and Amounts. 1. A. Effective July 1June 30, 19901985, employees covered by this Agreement shall commence participation in a supplemental retirement benefit program, jointly funded through County and employee contributions. The rate of accrual and amount of the benefit payable under this program is determined as follows: a. 1. Benefit accrual is at the rate of six-four tenths of one percent (0.60.4%) times the number of years of actual and continuous service the employee has completed as a full-time Prince George's County Correctional OfficerDeputy Sheriff, to a maximum of twenty-five (25) years of actual and continuous service, multiplied by the employee's average annual compensation, as determined pursuant to Section 55.05. b. 2. Pursuant to paragraph subparagraph 1, above, the maximum benefit payable to any eligible employee is fifteen ten percent (1510%) of the employee's average annual compensation, as determined pursuant to Section 57.05.