Common use of Example Clause in Contracts

Example. An employee gives his/her irrevocable letter of retirement prior to May 31, 2016, stating he/she will retire on June 30, 2018. The employee’s TRS creditable earnings for the 2015-2016 school year were $40,000.00. The employee’s TRS creditable earnings for the 2006-2007 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 2017-2018 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.00).

Example. An employee gives his/her irrevocable letter of retirement prior to May 31, 2016, stating he/she will retire on June 30, 20182022. The employee’s TRS creditable earnings for the 20152018-2016 2019 school year were $40,000.00. The employee’s TRS creditable earnings for the 20062019-2007 2020 school year will be $42,400.00 41,200.00 (i.e., $40,000.00 x 1.06 = 1.03= $42,400.0041,200.00). The employee’s TRS creditable earnings for the 20172020-2018 2021 school year will be $44,944.00 42,436.00 (i.e., i.e. $42,400 41,200.00 x 1.06 1.03 = $44,944.0042,436.00). The employee’s TRS creditable earnings for the 2021-2022 school year will be $43,709.08 (i.e. $42,436.00 x 1.03= $43,709.08).

Example. An employee gives his/her irrevocable letter of retirement prior to May 31June 1, 20162022, stating he/she will retire on June 30, 20182025. The employee’s TRS creditable earnings for the 20152021-2016 2022 school year were $40,000.0050,000.00. The employee’s TRS creditable earnings for the 20062022-2007 2023 school year will be $42,400.00 52,625.00 (i.e., $40,000.00 x 1.06 50,000.00 X 1.0525 = $42,400.0052,625.00). The employee’s TRS creditable earnings for the 20172023-2018 2024 school year will be $44,944.00 55,387.81 (i.e., $42,400 x 1.06 52,625.00 X 1.0525 = $44,944.0055,387.81). The employee’s TRS creditable earnings for the 2024-2025 school year will be $58,295.67 (i.e., $55,387.81 X 1.0525 = $58, 295.67).

Example. An employee gives his/her irrevocable letter of retirement prior to May 311, 20162020, stating he/she will retire on June 30, 20182022. The employee’s TRS creditable earnings for the 20152019-2016 2020 school year were $40,000.00. The employee’s TRS creditable earnings for the 20062020-2007 2021 school year will be $42,400.00 42,200.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 2017-2018 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.00).Three Year Plan

Example. An employee gives his/her irrevocable letter of retirement prior to May 311, 2016, stating he/she will retire on June 30, 2018. The employee’s TRS creditable earnings for the 2015-2016 school year were $40,000.00. The employee’s TRS creditable earnings for the 20062016-2007 2017 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 2017-2018 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.00).

Example. An employee gives his/her irrevocable letter of retirement prior to May 311, 20162020, stating he/she will retire on June 30, 20182023. The employee’s TRS creditable earnings for the 20152019-2016 2020 school year were $40,000.00. The employee’s TRS creditable earnings for the 20062020-2007 2021 school year will be $42,400.00 42,200.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 2017-2018 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.00).Four Year Plan

Example. An employee gives his/her irrevocable letter of retirement prior to May 311, 20162020, stating he/she will retire on June 30, 20182024. The employee’s TRS creditable earnings for the 20152019-2016 2020 school year were $40,000.00. The employee’s TRS creditable earnings for the 20062020-2007 2021 school year will be $42,400.00 42,200.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 2017-2018 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.00).,

Example. An employee gives his/her irrevocable letter of retirement prior to May 31, 2016, stating he/she will retire on June 30, 20182025. The employee’s TRS creditable earnings for the 20152022-2016 2023 school year were $40,000.0065,000.00. The employee’s TRS creditable earnings for the 20062023-2007 2024 school year will be $42,400.00 68,737.50 (i.e., $40,000.00 65,000 x 1.06 1.0575 = $42,400.0068,737.50). The employee’s TRS creditable earnings for the 20172024-2018 2025 school year will be $44,944.00 72,689.91 (i.e., $42,400 68,737.50 x 1.06 1.0575 = $44,944.0072,689.91).

Example. An employee gives his/her irrevocable letter of retirement prior to May 31, 2016, stating he/she will retire on June 30, 20182021. The employee’s TRS creditable earnings for the 20152018-2016 2019 school year were $40,000.00. The employee’s TRS creditable earnings for the 20062019-2007 2020 school year will be $42,400.00 41,200.00 (i.e., $40,000.00 x 1.06 1.03 = $42,400.0041,200.00). The employee’s TRS creditable earnings for the 20172020-2018 2021 school year will be $44,944.00 42,436.00 (i.e., $42,400 41,200.00 x 1.06 = 1.03= $44,944.0042,436.00).

Example. An employee gives his/her irrevocable letter of retirement prior to May July 31, 20162022, stating he/she will retire on June 30, 20182024. The employee’s TRS creditable earnings for the 20152021-2016 22 school year were $40,000.00. The employee’s TRS creditable earnings for the 20062022-2007 23 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 20172023-2018 24 school year will be $44,944.00 (i.e., $42,400 42,400.00 x 1.06 = $44,944.00).

Example. An employee gives his/her irrevocable letter of retirement prior to May 31June 1, 20162011, stating he/she will retire on June 30, 20182013. The employee’s nonexempt TRS creditable earnings for the 20152010-2016 2011 school year were $40,000.00. The employee’s nonexempt TRS creditable earnings for the 20062011-2007 2012 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s nonexempt TRS creditable earnings for the 2017-2018 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.00).2012-

Example. An employee gives his/her irrevocable letter of retirement prior to May 31February 1, 20162018, stating he/she will retire on June 30, 2018. The employee’s TRS creditable earnings for the 2015-2016 school year were $40,000.00. The employee’s TRS creditable earnings for the 2006-2007 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00)2020. The employee’s TRS creditable earnings for the 2017-2018 school year were $60,000.00. The employee’s TRS creditable earnings for the 2018-2019 school year will be $44,944.00 63,300.00 (i.e., $42,400 60,000.00 x 1.06 1.055 = $44,944.0063,300.00). The employee’s TRS creditable earnings for the 2019-2020 school year will be $66,781.50 (i.e., $63,300.00 x 1.055 = $66,781.50).

Example. An employee gives his/her irrevocable letter of retirement prior to May July 31, 20162019, stating he/she will retire on June 30, 20182021. The employee’s TRS creditable earnings for the 20152018-2016 19 school year were $40,000.00. The employee’s TRS creditable earnings for the 20062019-2007 20 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 2017-2018 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.00).=

Example. An employee gives his/her irrevocable letter of retirement prior to May 31March 1, 20162022, stating he/she will retire on June 30, 20182023. The employee’s TRS creditable earnings for the 20152021-2016 2022 school year were $40,000.0060,000. The employee’s TRS creditable earnings for the 20062022-2007 2023 school year will be $42,400.00 62,400 (i.e., $40,000.00 60,000 x 1.06 1.04 = $42,400.00). The employee’s TRS creditable earnings for the 2017-2018 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.0062,400).

Example. An employee gives his/her irrevocable letter of retirement prior to May 311, 20162009, stating he/she will retire on June 30, 20182011. The employee’s TRS creditable earnings for the 2015employee’s TRS creditable earnings for the 2009-2016 2010 school year years were $40,000.00. The employee’s TRS creditable earnings for the 20062010-2007 2011 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 20172009-2018 2010 school year will be $44,944.00 (i.e., $42,400 42,400.00 x 1.06 = $44,944.0044.944.00).

Example. An employee gives his/her irrevocable letter of retirement prior to May 311, 20162009, stating he/she will retire on June 30, 20182011. The employee’s TRS creditable earnings for the 2015employee’s TRS creditable earnings for the 2009-2016 2010 school year years were $40,000.00. The employee’s TRS creditable earnings for the 20062010-2007 2011 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 2017-2018 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.00).The

Example. An employee gives his/her irrevocable letter of retirement prior to May 31March 1, 20162022, stating he/she will retire on June 30, 20182023. The employee’s TRS creditable earnings for the 20152021-2016 2022 school year were $40,000.0060,000. The employee’s TRS creditable earnings for the 20062022-2007 2023 school year will be $42,400.00 63,600 (i.e., $40,000.00 60,000 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 2017-2018 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.0063,600).

Example. An employee gives his/her irrevocable letter of retirement prior to May July 31, 20162019, stating he/she will retire on June 30, 20182023. The employee’s TRS creditable earnings for the 20152018-2016 19 school year were $40,000.00. The employee’s TRS creditable earnings for the 20062019-2007 20 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 2017-2018 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.00).=

Example. An employee gives his/her irrevocable letter of retirement prior to May 31March 1, 20162022, stating he/she will retire on June 30, 20182026. The employee’s TRS creditable earnings for the 20152021-2016 2022 school year were $40,000.0060,000. The employee’s TRS creditable earnings for the 20062022-2007 2023 school year will be $42,400.00 63,600 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 2017-2018 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.00).60,000 x

Example. An employee gives his/her irrevocable letter of retirement prior to May 31March 1, 20162008, stating he/she will retire on June 30, 20182010. The employee’s TRS creditable earnings for the 20152007-2016 2008 school year were $40,000.0040,000. The employee’s TRS creditable earnings for the 2006-2007 2008- 2009 school year will be $42,400.00 42,400 (i.e., $40,000.00 40,000 x 1.06 = $42,400.0042,400). The employee’s TRS creditable earnings for the 20172009-2018 2010 school year will be $44,944.00 44,944 (i.e., $42,400 x 1.06 = $44,944.0044,944).

Example. An employee gives his/her irrevocable letter of retirement prior to May 311, 20162009, stating he/she will retire on June 30, 20182013. The employee’s TRS creditable earnings for the 2015employee’s TRS creditable earnings for the 2009-2016 2010 school year years were $40,000.00. The employee’s TRS creditable earnings for the 20062009-2007 2010 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 20172010-2018 2011 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.00).42,400.00 x

Example. An employee gives his/her irrevocable letter of retirement prior to May July 31, 20162022, stating he/she will retire on June 30, 20182025. The employee’s TRS creditable earnings for the 20152021-2016 22 school year were $40,000.00. The employee’s TRS creditable earnings for the 20062022-2007 23 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 20172023-2018 24 school year will be $44,944.00 (i.e., $42,400 42,400.00 x 1.06 = $44,944.00). The employee’s TRS creditable earnings for the 2024-25 school year will be $47,640.64 (i.e., $44,944.00 x 1.06 = $47,640.64).

Example. An employee gives his/her irrevocable letter of retirement prior to May 311, 2016, stating he/she will retire on June 30, 20182019. The employee’s TRS creditable earnings for the 2015-2016 school year were $40,000.00. The employee’s TRS creditable earnings for the 20062016-2007 2017 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 2017-2018 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.00).. The employee’s TRS creditable earnings for the 2018-2019 school year will be $47,640.64 (i.e., $44,944.00 x 1.06 =

Example. An employee gives his/her irrevocable letter of retirement prior to May 31February 1, 20162010, stating he/she will retire on June 30, 20182012. The employee’s TRS creditable earnings for the 20152009-2016 2010 school year were $40,000.00. The employee’s TRS creditable earnings for the 20062010-2007 2011 school year will be $42,400.00 (i.e., i.e. $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 20172011-2018 2012 school year will be 4$44,944.00 (i.e. $44,944.00 (i.e., $42,400 42,400.00 x 1.06 = $44,944.00).

Example. An employee gives his/her irrevocable letter of retirement prior to May 31March 1, 20162022, stating he/she will retire on June 30, 20182024. The employee’s TRS creditable earnings for the 20152021-2016 2022 school year were $40,000.00. The employee’s TRS creditable earnings for the 20062022-2007 2023 school year will be $42,400.00 42,000.00 (i.e., $40,000.00 x 1.06 1.05 = $42,400.0042,000.00). The employee’s TRS creditable earnings for the 20172023-2018 2024 school year will be $44,944.00 44,100.00 (i.e., $42,400 42,000.00 x 1.06 1.05 = $44,944.0044,100.00).

Example. An employee gives his/her irrevocable letter of retirement prior to May 31March 1, 20162008, stating he/she will retire on June 30, 20182011. The employee’s TRS creditable earnings for the 20152007-2016 2008 school year were $40,000.0040,000. The employee’s TRS creditable earnings for the 2006-2007 2008- 2009 school year will be $42,400.00 42,400 (i.e., $40,000.00 40,000 x 1.06 = $42,400.0042,400). The employee’s TRS creditable earnings for the 20172009-2018 2010 school year will be $44,944.00 44,944 (i.e., $42,400 x 1.06 = $44,944.0044,944). The employee’s TRS creditable earnings for the 2010-2011 school year will be $47,641 (i.e., $44,944 x 1.06 = $47,641).

Example. An employee gives his/her irrevocable letter of retirement prior to May 31February 1, 20162011, stating he/she will retire on June 30, 20182013. The employee’s TRS creditable earnings for the 20152010-2016 2011 school year were $40,000.0055,000.00. The employee’s TRS creditable earnings for the 20062011-2007 2012 school year will be $42,400.00 58,300.00 (i.e., $40,000.00 55,000.00 x 1.06 = $42,400.0058,300.00). The employee’s TRS creditable earnings for the 20172012-2018 2013 school year will be $44,944.00 61,798.00 (i.e., $42,400 58,300.00 x 1.06 = $44,944.0061,798.00).

Example. An employee gives his/her irrevocable letter of retirement prior to May 31March 1, 20162022, stating he/she will retire on June 30, 20182024. The employee’s TRS creditable earnings for the 20152021-2016 2022 school year were $40,000.0060,000. The employee’s TRS creditable earnings for the 20062022-2007 2023 school year will be $42,400.00 62,400 (i.e., $40,000.00 60,000 x 1.06 1.04 = $42,400.0062,400). The employee’s TRS creditable earnings for the 20172023-2018 2024 school year will be $44,944.00 64,896 (i.e., $42,400 62,400 x 1.06 1.04 = $44,944.0064,896).

Example. An employee gives his/her irrevocable letter of retirement prior to May 31March 1, 20162022, stating he/she will retire on June 30, 20182025. The employee’s TRS creditable earnings for the 20152021-2016 2022 school year were $40,000.00. The employee’s TRS creditable earnings for the 20062022-2007 2023 school year will be $42,400.00 42,000.00 (i.e., $40,000.00 x 1.06 1.05 = $42,400.0042,000.00). The employee’s TRS creditable earnings for the 20172023-2018 2024 school year will be $44,944.00 44,100.00 (i.e., $42,400 42,000.00 x 1.06 1.05 = $44,944.0044,100.00). The employee’s TRS creditable earnings for the 2024-2025 school year will be $46,305.00 (i.e., $44,100.00 x 1.05 = $46,305.00).

Example. An employee gives his/her irrevocable letter of retirement prior to May 31March 1, 20162022, stating he/she will retire on June 30, 20182024. The employee’s TRS creditable earnings for the 20152021-2016 2022 school year were $40,000.0060,000. The employee’s TRS creditable earnings for the 20062022-2007 2023 school year will be $42,400.00 63,600 (i.e., $40,000.00 60,000 x 1.06 = $42,400.0063,600). The employee’s TRS creditable earnings for the 20172023-2018 2024 school year will be $44,944.00 67,416 (i.e., $42,400 63,600 x 1.06 = $44,944.0067,416).

Example. An employee gives his/her irrevocable letter of retirement prior to May 311, 20162006, stating he/she will retire on June 30, 20182009. The employee’s TRS creditable earnings for the 20152005-2016 2006 school year were $40,000.00. The employee’s TRS creditable earnings for the 2006-2007 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 20172007-2018 2008 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.00).,

Example. An employee gives his/her irrevocable letter of retirement prior to May July 31, 20162019, stating he/she will retire on June 30, 20182022. The employee’s TRS creditable earnings for the 20152018-2016 19 school year were $40,000.00. The employee’s TRS creditable earnings for the 20062019-2007 20 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 2017-2018 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.00).=

Example. An employee gives his/her irrevocable letter of retirement prior to May July 31, 20162022, stating he/she will retire on June 30, 20182025. The employee’s TRS creditable earnings for the 20152021-2016 22 school year were $40,000.00. The employee’s TRS creditable earnings for the 20062022-2007 23 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 20172023-2018 24 school year will be $44,944.00 (i.e., $42,400 42,400.00 x 1.06 = $44,944.00). The employee’s TRS creditable earnings for the 2024-25 school year will be $47,640.64 (i.e., $44,944.00 x 1.06 = $47,640.

Example. An employee gives his/her irrevocable letter of retirement prior to May 31February 1, 20162020, stating he/she will retire on June 30, 20182012. The employee’s TRS creditable earnings for the 2015-2016 2009 -2010 school year were $40,000.00. The employee’s TRS creditable earnings for the 20062010-2007 2011 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 20172011-2018 2012 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.00).

Example. An employee gives his/her irrevocable letter of retirement prior to May 311, 2016, stating he/she will retire on June 30, 20182020. The employee’s TRS creditable earnings for the 2015-2016 school year were $40,000.00. The employee’s TRS creditable earnings for the 20062016-2007 2017 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 2017-2018 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.00).. The employee’s TRS creditable earnings for the 2018-2019 school year will be $47,640.64 (i.e., $44,944.00 x 1.06 =

Example. An employee gives his/her irrevocable letter of retirement prior to May 311, 20162006, stating he/she will retire on June 30, 20182008. The employee’s TRS creditable earnings for the 20152005-2016 2006 school year were $40,000.00. The employee’s TRS creditable earnings for the 2006-2007 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 20172007-2018 2008 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.00).

Example. An employee gives his/her irrevocable letter of retirement prior to May 311, 20162006, stating he/she will retire on June 30, 20182010. The employee’s TRS creditable earnings for the 20152005-2016 2006 school year were $40,000.00. The employee’s TRS creditable earnings for the 2006-2007 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 20172007-2018 2008 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.00).,

Example. An employee gives his/her irrevocable letter of retirement prior to May 31June 1, 20162011, stating that he/she will shall retire on June 30, 20182012. The employee’s nonexempt TRS creditable earnings for the 20152010-2016 2011 school year were $40,000.00. The employee’s nonexempt TRS creditable earnings for the 20062011-2007 2012 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00). The employee’s TRS creditable earnings for the 2017-2018 school year will be $44,944.00 (i.e., $42,400 x 1.06 = $44,944.00).

Example. An employee gives his/her irrevocable letter of retirement prior to May 31February 1, 20162018, stating he/she will retire on June 30, 2018. The employee’s TRS creditable earnings for the 2015-2016 school year were $40,000.00. The employee’s TRS creditable earnings for the 2006-2007 school year will be $42,400.00 (i.e., $40,000.00 x 1.06 = $42,400.00)2021. The employee’s TRS creditable earnings for the 2017-2018 school year were $60,000.00. The employee’s TRS creditable earnings for the 2018-2019 school year will be $44,944.00 63,300.00 (i.e., $42,400 60,000.00 x 1.06 1.055 = $44,944.0063,300.00). The employee’s TRS creditable earnings for the 2019-2020 school year will be $66,781.50 (i.e., $63,300 x 1.055 = $66,781.50). The employee’s TRS creditable earnings for the 2020-2021 school year will be $70,454.48 (i.e., $66781.50 x 1.055 = $70,454.48).

Example. An employee gives his/her irrevocable letter of retirement prior to May 31June 1, 20162020, stating he/she will retire on June 30, 20182022. The employee’s nonexempt TRS creditable earnings for the 2015-2016 2019- 2020 school year were $40,000.00. The employee’s nonexempt TRS creditable earnings for the 20062020-2007 2021 school year will be $42,400.00 41,600.00 (i.e., $40,000.00 x 1.06 1.04 = $42,400.0041,600.00). The employee’s nonexempt TRS creditable earnings for the 20172021-2018 2022 school year will be $44,944.00 43,264.00 (i.e., $42,400 41,600.00 x 1.06 l.04 = $44,944.0043,264.00).