Common use of Final Average Compensation Formula Clause in Contracts

Final Average Compensation Formula. For any employee hired on or before December 31, 2001 or who is vested as of May 1, 2009, the formula for computing final average compensation, used for calculating pension benefits for eligible bargaining unit members, shall be based on the average of an employee’s four (4) highest consecutive years of compensation out of the last ten

Final Average Compensation Formula. For any employee hired on or before December 31, 2001 or who is vested as of May 1February 27, 2009, the formula for computing final average compensation, used for calculating pension benefits for eligible bargaining unit members, shall be based on the average of an employee’s four (4) highest consecutive years of compensation out of the last ten

Final Average Compensation Formula. For any employee hired on or before December 31, 2001 or who is vested as of May 1July 24, 2009, the formula for computing final average compensation, used for calculating pension benefits for eligible bargaining unit members, shall be based on the average of an employee’s four (4) highest consecutive years of compensation out of the last ten

Final Average Compensation Formula. For any employee hired on or before December 31, 2001 or who is vested as of May 1, 2009, the formula for computing final average compensation, used for calculating pension benefits for eligible bargaining unit members, shall be based on the average of an employee’s 's four (4) highest consecutive years of compensation out of the last ten