Average annual salary definition

Average annual salary means the average annual Basic Salary paid to a Participant for his or her highest 24 consecutive Months of Service.

Average annual salary means the average of the last three (3) years’ salary ending with the most recent year;

Average annual salary means the amount derived when the salary received during the two consecutive highest salaried fiscal years of full-time service for which contribu- tions to TIAA-CREF were made by both the participant and a participating employer or a Washington public higher edu- cation institution is divided by two.

Examples of Average annual salary in a sentence

• If Ventiv’s actual salary per Ventiv Sales Representative is above the Average Annual Salary, then Ventiv shall xxxx the difference to Iroko.

• After termination of the Plan, (a) no further contributions shall be made hereunder and (b) there shall be no further accrual of benefits (i.e., no increase in Accrued Benefits by reason of additional Credited Service, a change in a Participant's Average Annual Salary, an increase in the benefits permissible under Code Section 415 or any other event).

• The Deferred Retirement benefit payable to a Participant who retires on a Deferred Retirement Date shall equal a benefit determined in the same manner as a Normal Retirement benefit (determined in accordance with Section 5.1 of the Plan) but based on his Credited Service and Average Annual Salary to his Deferred Retirement Date.

• At the time of his retirement after reaching age 65, the Executive has a Career Average Annual Salary of $100,000, and the agreed upon percentage listed under Paragraph 1(g) is 30%.

• When he elects early retirement at age 55, the Executive has a Career Average Annual Salary of $100,000.

More Definitions of Average annual salary

Average annual salary means the average [annual salary

Average annual salary means the highest average annual salary of a member of the fund during any of the number of years of contributions specified in section 742.37 or 742.39 of the Revised Code, as appropriate, and determined by dividing the member's total salary as an employee during those years by that number.

Average annual salary means the average annual salary of an officer during the five (5) years of highest annual salary in the ten (10) years immediately preceding an officer's retirement date, determined without regard to any salary reduction agreement established under Section 125 of the Internal Revenue Code.

Average annual salary means the highest average annual salary of a member of the fund during any three years of contributions determined by dividing the member's total salary as an employee during the years by three.

Average annual salary means the wages paid to full- time employees as regular, overtime, vacation, sick, premium overtime, or gain share (bonus). It does not include any payroll taxes paid by the employee or employer nor does it include any retirement or health/life insurance contributions by the employee or employer.

Average annual salary means the average annual salary received during the three years of highest salary.

Average annual salary means the average annual Basic Salary paid to a Participant for his or her highest two consecutive Years of Service.