Common use of Retirement Benefits – Final Compensation Period Clause in Contracts

Retirement Benefits – Final Compensation Period. For employees who are members of SJCERA Tier I, final compensation shall, as authorized by County Resolution R-71-2161 pursuant to Section 31462.1, be the average annual compensation earnable by the member in the twelve consecutive months elected by the member at or before the time he or she files an application for retirement or, if no election is made, the twelve consecutive months immediately preceding the member’s retirement. As provided by Section 7522.32, for employees who are members of SJCERA Tier II, final compensation shall mean the highest average annual pensionable compensation earned by the member during a period of at least 36 consecutive months immediately preceding his or her retirement or last separation from service if earlier, or during any other period of at least 36 consecutive months, as designated by the member on the application for retirement.

Retirement Benefits – Final Compensation Period. For employees who are members of SJCERA Tier I, final compensation shall, as authorized by County Resolution R-71-2161 pursuant to Section 31462.1, be the average annual compensation earnable by the member in the twelve consecutive months elected by the member at or before the time he or she files an application for retirement or, if no election is made, the twelve consecutive months immediately preceding the member’s retirement. As provided by Section 7522.32, 7522.32 for employees who are members of SJCERA Tier II, final compensation shall mean the highest average annual pensionable compensation earned by the member during a period of at least 36 consecutive months immediately preceding his or her retirement or last separation from service if earlier, or during any other period of at least 36 consecutive months, as designated by the member on the application for retirement.

Retirement Benefits – Final Compensation Period. For employees who are members of SJCERA Tier I, final compensation shall, as authorized by County Resolution R-71-2161 pursuant to Section 31462.1, be the average annual compensation earnable by the member in the twelve (12) consecutive months elected by the member at or before the time he or she the member files an application for retirement or, if no election is made, the twelve (12) consecutive months immediately preceding the member’s retirement. As provided by Section 7522.32, for employees who are members of SJCERA Tier II, final compensation shall mean the highest average annual pensionable compensation earned by the member during a period of at least 36 thirty-six (36) consecutive months immediately preceding his or her their retirement or last separation from service if earlier, or during any other period of at least 36 consecutive months, as designated by the member on the application for retirement.thirty-six