One-Year Final Compensation Sample Clauses

One-Year Final Compensation. For employees hired on or before February 5, 2012, the retirement allowance of a PERS member shall be based on the 12 highest paid consecutive months under the plan. (Government Code Section 20042).
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One-Year Final Compensation. A represented employee’s retirement allowance is based on the twelve (12) highest paid consecutive months under the plan. (Government Code Section 20042.) This One Year Final Compensation optional benefit shall only apply to represented employees subject to 2.7% at 55. Employees subject to 2.5% at 55 shall be subject to final compensation in accordance with Government Code Section 20037 which means the highest average annual compensation earnable by a member during the three consecutive years of employment immediately preceding the effective date of his or her retirement.
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One-Year Final Compensation. The City shall contract with CalPERS to have retirement benefits calculated based upon the “classic” member employee’s highest one year’s compensation, pursuant to the provisions of Section 20042 (highest single year).
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One-Year Final Compensation. The City provides one-year final compensation pursuant to Government Code Section 20042.
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One-Year Final Compensation. Final compensation is the average full-time monthly pay rate for the highest twelve (12) consecutive months.
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One-Year Final Compensation. Section 20042 The City has previously agreed to and has amended its PERS Agreement for determining the average monthly pay rate when calculating retirement benefits from the 36 highest paid consecutive months to the 12 highest paid consecutive months pursuant to Section 20042 of the PERS Retirement Law effective July 1, 2011. This benefit will only apply to employees hired before July 1, 2011 1959 Survivor Benefit Level 3 – Section 21573 City agrees to pay the two-dollar ($2) per month employee contribution for the current 1959 Survivor benefit (Level 3) Section 21573 of the PERS Retirement Law effective July 1, 2008.
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Related to One-Year Final Compensation

  • Final Compensation Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS prior to January 15, 2011, is based on the highest average monthly pay rate during twelve (12) consecutive months of employment. Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS on or after January 15, 2011, is based on the highest average monthly pay rate during thirty-six (36) consecutive months of employment.

  • Additional Compensation Notwithstanding anything in this Memorandum of Understanding to the contrary when in the judgment of the Board, it becomes necessary or desirable to utilize the services of County employees in capacities other than those for which they are regularly employed, the Board may authorize and, if appropriate, fix an additional rate of compensation for such employees.

  • Shift Differential Compensation Any employee in the bargaining unit whose assigned work shift commences (for unit-1) prior to 5:30 a.m. or whose work shift ends after 5:30 p.m., or (for unit-2 members) commences after 2:00 p.m. shall be paid a shift differential premium of five (5%) percent above the regular rate of pay for all hours worked.

  • Total Compensation Contractor shall include Total Compensation in XXX for each of its five most highly compensated Executives for the preceding fiscal year if:

  • Special Compensation The Company shall pay to the Executive a lump sum equal to three times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Bonus Amount. Such lump sum shall be paid by the Company to the Executive within ten business days after the Executive's termination of employment, unless the provisions of Section 3(e) below apply. The amount of the aggregate lump sum provided by this Section 3(c), whether paid immediately or deferred, shall not be counted as compensation for purposes of any other benefit plan or program applicable to the Executive.

  • Basic Compensation An employee, at the employee's option, may report to court when subpoenaed or remain on call. If the employee elects to appear in court, the division supervisor must be notified, at the latest, one administrative day prior to the scheduled court appearance. If the employee wishes to remain on call, the employee must be able to appear in court not more than one hour after being notified that the employee's appearance is required in court. To appear in court more than an hour after having been notified will void the employee's right to on-call compensation. An employee need not remain at home, but must be available for telephonic notification at a location where the supervisor knows the employee can be reached.

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