Common use of Normal Retirement and Pension Amount Clause in Contracts

Normal Retirement and Pension Amount. (1) A full-time employee who is hired (or reemployed) by the Court prior to January 1, 2011 shall be eligible for normal retirement upon attaining age 60 or older with 8 or more years of credited service, or age 55 or older with 30 or more years of credited service. The benefit formula applicable to retirement for all employees eligible for benefits under this section who elect to retire shall be two and one-half (2.5%) percent of the employee's final average compensation multiplied by his years of credited service, not to exceed seventy-five percent (75%) of the member’s final average compensation. Final average compensation shall be the average of the compensation paid an individual during the period of thirty-six (36) consecutive months of his credited service producing the highest average compensation contained within the period of 120 months of his credited service immediately preceding the date his employment with the Court last terminates; provided, however that premium overtime wages earned in excess of two-hundred forty (240) hours annually (January 1st –December 31st) shall be excluded from this determination of final average compensation.

Normal Retirement and Pension Amount. (1) A full-time An employee who is hired (or reemployed) by the Court prior to January 1, 2011 shall be eligible for normal retirement upon attaining age 60 or older with 8 or more years of credited service, or age 55 or older with 30 or more years of credited service. The benefit formula applicable to retirement for all employees eligible for benefits under this section who elect to retire shall be two and one-half (2.5%) percent of the employee's final average compensation multiplied by his years of credited service, not to exceed seventy-five percent (75%) of the member’s final average compensation. Final average compensation shall be the average of the compensation paid an individual during the period of thirty-six (36) consecutive months of his credited service producing the highest average compensation contained within the period of 120 months of his credited service immediately preceding the date his employment with the Court last terminates; provided, however that premium overtime wages earned in excess of two-hundred forty (240) hours annually (January 1st –December 31st) shall be excluded from this determination of final average compensation.

Normal Retirement and Pension Amount. (1) A full-time . An employee who is hired (or reemployed) by the Court County prior to January 1, 2011 shall be eligible for normal retirement upon attaining age 60 or older with 8 or more years of credited service, or age 55 50 or older with 30 25 or more years of credited service. The benefit formula applicable to retirement for all employees eligible for benefits under this section who elect to retire shall be two and one-half (2.5%) percent of the employee's final average compensation multiplied by his years of credited service, not to exceed seventy-five percent (75%) of the member’s final average compensation. Final average compensation shall be the average of the compensation paid an individual during the period of thirty-six (36) consecutive months of his credited service producing the highest average compensation contained within the period of 120 months of his credited service immediately preceding the date his employment with the Court County last terminates; provided, however that premium overtime wages earned in excess of two-hundred forty (240) hours annually (January 1st –December 31st) shall be excluded from this determination of final average compensation.

Normal Retirement and Pension Amount. (1) A full-time An employee who is hired (or reemployed) by the Court County prior to January 1, 2011 shall be eligible for normal retirement upon attaining age 60 or older with 8 or more years of credited service, or age 55 50 or older with 30 25 or more years of credited service. The benefit formula applicable to retirement for all employees eligible for benefits under this section who elect to retire shall be two and one-half (2.5%) percent of the employee's final average compensation multiplied by his years of credited service, not to exceed seventy-five percent (75%) of the member’s final average compensation. Final average compensation shall be the average of the compensation paid an individual during the period of thirty-six (36) consecutive months of his credited service producing the highest average compensation contained within the period of 120 months of his credited service immediately preceding the date his employment with the Court County last terminates; provided, however that premium overtime wages earned in excess of two-hundred forty (240) hours annually (January 1st –December 31st) shall be excluded from this determination of final average compensation.

Normal Retirement and Pension Amount. (1) A full-time . An employee who is hired (or reemployed) by the Court County prior to January 1, 2011 shall be eligible for normal retirement upon attaining age 60 or older with 8 or more years of credited service, or age 55 50 or older with 30 25 or more years of credited service. The benefit formula applicable to retirement for all employees eligible for benefits under this section who elect to retire shall be two and one-half (2.5%) percent of the employee's final average compensation multiplied by his years of credited service, not to exceed seventy-five percent (75%) of the member’s final average compensation. Final average compensation shall be the average of the compensation paid an individual during the period of thirty-six (36) consecutive months of his credited service producing the highest average compensation contained within the period of 120 months of his credited service immediately preceding the date his employment with the Court County last terminates; provided, however that premium overtime wages earned in excess of two-hundred forty (240) hours annually (January 1st –– December 31st) shall be excluded from this determination of final average compensation.

Normal Retirement and Pension Amount. (1) . A full-time employee who is hired (or reemployed) by the Court County prior to January 1, 2011 shall be eligible for normal retirement upon attaining age 60 or older with 8 or more years of credited service, or age 55 or older with 30 or more years of credited service. The benefit formula applicable to retirement for all employees eligible for benefits under this section who elect to retire shall be two and one-half (2.5%) percent of the employee's final average compensation multiplied by his years of credited service, not to exceed seventy-five percent (75%) of the member’s final average compensation. Final average compensation shall be the average of the compensation paid an individual during the period of thirty-six (36) consecutive months of his credited service producing the highest average compensation contained within the period of 120 months of his credited service immediately preceding the date his employment with the Court County last terminates; provided, however that premium overtime wages earned in excess of two-hundred forty (240) hours annually (January 1st –December 31st) shall be excluded from this determination of final average compensation.