Average Monthly Earnings means Annual Compensation divided by twelve (12).
Average Monthly Earnings means a Member’s average monthly earnings during the highest three (3) calculation years of the last ten (10) calculation years. For this purpose, earnings includes all compensation for services rendered, including base salary and any bonus under the AK Steel Corporation Annual Management Incentive Plan and any substitute or successor of such plan (“MIP”), provided however, if during any calculation year, a Member receives more than one bonus under the MIP, only such bonus of the highest amount shall be taken into account in that calculation year. Earnings shall also include any elective deferrals of base salary or any bonus under the MIP made with respect to any calendar year under the AK Steel Corporation Thrift Plan, the AK Steel Corporation Executive Deferred Compensation Plan, or under any plan established under section 125 of the Code. Compensation attributable to reimbursement of business or relocation expenses; Company contributions after 1991 to any Company-sponsored employee benefit plans established under sections 401(k) or 125 of the Code; any bonuses under the AK Steel Corporation Long-Term Performance Plan and any substitute or successor of such plan; and income under any stock option, restricted stock or phantom stock plan, shall be disregarded. The term “calculation years” means fiscal years measured by the twelve (12) consecutive calendar months ending with the last day of the month coincident with or immediately preceding the date of a Member’s Termination Date.
Average Monthly Earnings means the average of the participant’s Monthly Earnings in the three consecutive plan years of highest Compensation as follows:
Examples of Average Monthly Earnings in a sentence
The total amount of Lump Sum Award (LSA) payments made pursuant to Article 11 and before the employee’s Termination of Employment, divided by 60, will be added to the employee’s Final Average Monthly Earnings under the BCERP.
This provision shall not apply, however, to calculation of the Actuarial Equivalent of the portion of a Participating Employee’s benefit under Section 1 or 2 of Article VI attributable to Years of Service and Average Monthly Earnings through December 31, 1993.
Employment and Average Monthly Earnings are beginning-of-quarter.
This benefit is equal to the Final Average Monthly Earnings (an average of the last three years’ earnings), multiplied by a benefit factor of 2.00% times years of service.
This provision shall not apply, however, to calculation of the Actuarial Equivalent of the portion of a Participating Employee's benefit under Section 1 or 2 of Article VI attributable to Years of Service and Average Monthly Earnings through December 31, 1993.
More Definitions of Average Monthly Earnings
Average Monthly Earnings means "Average Monthly Earnings" as defined under the MOT Plan.
Average Monthly Earnings or “AME” means an amount computed in accordance with paragraph 6 of the First Schedule;
Average Monthly Earnings means the highest average monthly base salary paid to the relevant Member for any 12-consecutive month period during the 144-month period immediately preceding the termination of the Member’s employment. A Member’s annual base salary for purposes of determining Average Monthly Earnings shall be limited as set forth in the applicable SERP Benefit Schedule.
Average Monthly Earnings means the average for each Participant determined by dividing total Considered Compensation during the Participant’s 9-year Period of Service ending on his retirement or Severance from Service Date by 108. The denominator of 108 shall be reduced to the number of months actually worked if the Participant was not employed by the Company during that entire 9-year period. The denominator shall also be reduced in the case of Disability Retirement by the number of months without pay because of Disability in the last 6 months before retirement, and in all other cases shall be reduced by the greater of the number of months without pay (a) in excess of 3, during each absence, or (b) in excess of 12.
Average Monthly Earnings means the amount determined under section nineteen; "Chairperson" means the Chairperson under paragraph I of the First Schedule;
Average Monthly Earnings means the monthly average in the five
Average Monthly Earnings means the greater of: (a) an Employee's Monthly Earnings averaged over the three (3) highest Plan Years of participation which shall produce the highest monthly average within the last ten (10) Plan Years; or (b) an Employee's Monthly Earnings averaged over the three (3) highest Plan Years of participation which shall produce the highest monthly average within the last ten (10) Plan Years during which the Employee actively performed services for an Employing Company. If an Employee has completed less than three (3) Plan Years of participation upon his termination of employment, his Average Monthly Earnings will be based on his Earnings during his participation to his date of termination.