Final Average definition

Final Average. COMPENSATION shall mean the average of the Compensation of the Executive for the three Calendar Years (out of his final five Calendar Years of employment with the Bank) during which his Compensation was the highest.
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Final Average. Earnings” 4
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Final Average. Earnings calculated prior to April 1, 2000 means the twelve times the highest average of the Member's earnings during any 60 consecutive months of service with the Company and/or an Affiliated Company within the 5 year period preceding the Member's retirement, death or termination of employment. If a Member has not completed 60 months of service, Final Average Earnings will be based on the average of the Member's Earnings during the Member's period of service.
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Examples of Final Average in a sentence

  • When an employee’s Final Average Compensation is calculated, any retroactive wages provided shall be counted as if the retroactive wages were paid to the employee when the wages were earned, not when they were received by the employee.

  • Notwithstanding the provisions of Section 2 (11) and 2 (12) of the Macomb County Employees’ Retirement System Ordinance, when an employee’s Final Average Compensation is calculated, any retroactive wages provided shall be counted as if the retroactive wages were paid to the employee when the wages were earned, not when they were received by the employee.

  • Every employee shall join the Ontario Municipal Employees Retirement System Final Average Earnings Plan.

  • Employees will earn their pension with an accrual rate of 3% for the first 20 years of service then 2% for each additional year of service with a maximum of 80% of Final Average Compensation.

  • 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.

  • Employees will earn their pension with an accrual rate of 2.5% for each year of service, subject to a cap of 75% of Final Average Compensation.

  • Note: GMEBS has prescribed forms for calculation of Final Average Earnings that must be used for this purpose.

  • These payments shall not be added to base pay and shall not be included in Final Average Compensation for Retirement purposes.

  • The basic pension plan is the Final Average Earnings plan implemented January (as amended).

  • This definition of Final Average Earnings applies to: All Participants who are Regular Employees.


More Definitions of Final Average

Final Average. Earnings is the highest annual average of earnings in any three (3) consecutive years prior to retirement. Final YMPE is the annual average of the Year’s Maximum Pensionable Earnings under the Canada Pension Plan in the same period used to deter- mine Final Average Earnings. Normal retirement age is sixty-five (65) years. Early retirement with Company consent is allowed after age fifty-five (55) with two (2) years of plan membership. An unreduced pension is payable from age sixty-two (62), or from age fifty-five (55) if age plus years of service equals eighty-five (85) years or more. Otherwise, a reduced pension is payable equal to the accrued pen- sion reduced by three percent (3%) per year retirement age is less than sixty-two (62). Normal form of pension for members with a spouse at retirement is a pension payable for the lifetime of the member, with sixty percent (60%) continuation to the surviving spouse after the member’s death. Normal form of pension for members without a spouse at retirement is a pension payable for life with a guar- xxxxx of at least sixty (60) monthly payments. The Company shall provide the Union with copies of actuarial evaluations of the Company’s Retirement Plan as soon as is practical after such evaluations are com- pleted. The Company further agrees to meet with a Union representative at a convenient date within thirty (30) days of receiving said actuarial reports, for the pur- poses of answering questions regarding the Plan and discussing suggestions for improvement.
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Final Average. Earnings calculated as of any calculation date prior to April 1, 2000 means twelve times the average of the Member's earnings during the 60 consecutive months of service with the Company and/or an Affiliated Company ending on the calculation date. If a Member has not completed 60 consecutive months of service as of the calculation date, Final Average Earnings will be based on the average of the Member's Earnings during the Member's period of consecutive service ending on such calculation date.
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Final Average. Earnings" at age 60 assumes your base salary increases 6% per year and you receive your maximum bonus opportunity each year; and o "Integration Level" at age 60 assumes the Social Security Wage Base increases 5% per year. The Lump Sum described above will be determined using the actuarial assumptions being used at the time of such payment with respect to the Qualified Plan (for example, the discount rate and mortality assumptions) and will be reduced by the lump sum value of benefits payable from the Qualified Plan and Supplemental Plan whether or not such benefits are payable in a lump sum. BURLINGTON RESOURCES INC. --------------------------------------- By: Bobbx X. Xxxxxxxxx Its: Chairman of the Board, President and Chief Executive Officer
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Final Average means (a) divided by(b) as follows:
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Related to Final Average

  • Final Average Earnings means (a) divided by (b) as follows:

  • Final average salary means whichever of the following is greater:

  • Final Average Pay means the participant’s average monthly compensation in the highest three calendar years of compensation out of five consecutive calendar years of employment during a period of eligibility service by the Company or an Affiliate. Years separated by a period of one or more calendar years when the participant has no such eligible employment shall be treated as consecutive. Additional compensation paid at retirement or other Separation from Service, such as for periods of unused vacation or sick leave, shall be attributed to calendar years by assuming that employment continued during the period based on which the compensation is measured. Severance pay shall be disregarded, except severance pay in lieu of service.

  • Final Average Compensation means the aggregate amount of a member's compensation earned within the averaging period in which the aggregate amount of compensation was highest divided by the member's number of years, including any fraction of a year, of credited service during the averaging period. The averaging period shall be 36 consecutive calendar months if the member contributes to the member investment plan except for a member who contributes to the member investment plan and first became a member on or after July 1, 2010; otherwise, the averaging period shall be 60 consecutive calendar months. A member who contributes to the member investment plan and first became a member on or after July 1, 2010 shall also have an averaging period of 60 consecutive calendar months. If the member has less than 1 year of credited service in the averaging period, the number of consecutive calendar months in the averaging period shall be increased to the lowest number of consecutive calendar months that contains 1 year of credited service.

  • Average Monthly Limit means the maximum allowable "Average Monthly Concentration" as defined in Section 22a-430-3(a) of the RCSA when expressed as a concentration (e.g. mg/l); otherwise, it means "Average Monthly Discharge Limitation" as defined in Section 22a-430-3(a) of the RCSA.

  • Grade point average or "GPA" means the grade point average earned by an eligible student and reported by the high school or participating institution in which the student was enrolled based on a scale of 4.0 or its equivalent if the high school or participating institution that the student attends does not use the 4.0 grade scale;

  • Highest Average Compensation means the average Compensation for the three (3) consecutive years of Service with the Employer that produces the highest average. A Year of Service with the Employer is the twelve (12) consecutive month period identical to the Plan Year.

  • Average monthly discharge limitation means the highest allowable average of "daily discharges" over a calendar month, calculated as the sum of all "daily discharges" measured during a calendar month divided by the number of "daily discharges" measured during that month. Compliance with fecal coliform bacteria or E coli bacteria limitations shall be determined using the geometric mean.

  • Average Monthly Compensation means the quotient determined by dividing the sum of the Employee’s then current Base Salary (as defined in Section 4.1 hereof) and the greater of the most recently paid Incentive Compensation (as defined in Section 4.2 hereof) or the average of Incentive Compensation paid over the three most recent years by twelve.

  • Weighted Average means a ratio of the weight of the investment by the financial market participant in an investee company in relation to the enterprise value of the investee company;

  • average consumption means the average consumption of a customer of a municipal service during a specific period, and is calculated by dividing the total measured consumption of that municipal service by that customer over the preceding three months by three;

  • Volume Weighted Average Price means, for any security as of any date, the daily dollar volume-weighted average price for such security on the Primary Market as reported by Bloomberg through its “Historical Prices – Px Table with Average Daily Volume” functions, or, if no dollar volume-weighted average price is reported for such security by Bloomberg, the average of the highest closing bid price and the lowest closing ask price of any of the market makers for such security as reported in the "pink sheets" by Pink Sheets LLC.

  • Average Excess Availability means, with respect to any period, the sum of the aggregate amount of Excess Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.

  • Average final compensation means the average annual creditable compensation of a member during

  • Weighted Average SOFR means the arithmetic mean of SOFR in effect for each Business Day during the relevant Interest Period, calculated by multiplying the relevant SOFR by the number of calendar days such SOFR is in effect, determining the sum of such products and dividing such sum by the number of calendar days in the relevant Interest Period, provided however that during a Suspension Period, the SOFR for each day during that Suspension Period will be the value for the Business Day immediately prior to the first day of such Suspension Period. For purposes of this provision “Suspension Period” is the number of Business Days prior to the end of the relevant Interest Period as specified in the applicable pricing supplement.

  • Average Daily Flow means the cumulative total sewage flow to the sewage works during a calendar year divided by the number of days during which sewage was flowing to the sewage works that year;

  • Average Contract Value means the higher of (inclusive of carbon tax but exclusive of goods and services tax) the (i) average of the total amount payable by the Consumer to the Retailer based on the average electricity consumption of three (3) months (before the date of termination) or (ii) the total amount payable by the Consumer to the Retailer based on the Declared Monthly Consumption.

  • Weighted Average Coupon means, with respect to Fixed Rate Obligations (excluding Defaulted Loans), as of any date, the number obtained by:

  • Average Contribution Percentage means the average of the Contribution Percentages of the Eligible Participants in a group.

  • Weighted Average Spread means, with respect to Floating Rate Obligations (in each case excluding Defaulted Loans), as of any date, the number obtained by:

  • Average value means the value which best represents the amount of the nutrient which a given food contains, and reflects allowances for seasonal variability, patterns of consumption and other factors which may cause the actual value to vary.

  • Fully Diluted Weighted Average Basis means, when calculating the number of Outstanding Units for any period, a basis that includes (a) the weighted average number of Outstanding Units during such period plus (b) all Partnership Interests and Derivative Partnership Interests (i) that are convertible into or exercisable or exchangeable for Units or for which Units are issuable, in each case that are senior to or pari passu with the Subordinated Units, (ii) whose conversion, exercise or exchange price, if any, is less than the Current Market Price on the date of such calculation, (iii) that may be converted into or exercised or exchanged for such Units prior to or during the Quarter immediately following the end of the period for which the calculation is being made without the satisfaction of any contingency beyond the control of the holder other than the payment of consideration and the compliance with administrative mechanics applicable to such conversion, exercise or exchange and (iv) that were not converted into or exercised or exchanged for such Units during the period for which the calculation is being made; provided, however, that for purposes of determining the number of Outstanding Units on a Fully Diluted Weighted Average Basis when calculating whether the Subordination Period has ended or Subordinated Units are entitled to convert into Common Units pursuant to Section 5.7, such Partnership Interests and Derivative Partnership Interests shall be deemed to have been Outstanding Units only for the four Quarters that comprise the last four Quarters of the measurement period; provided, further, that if consideration will be paid to any Group Member in connection with such conversion, exercise or exchange, the number of Units to be included in such calculation shall be that number equal to the difference between (x) the number of Units issuable upon such conversion, exercise or exchange and (y) the number of Units that such consideration would purchase at the Current Market Price.

  • Average weekly discharge limitation means the highest allowable average of "daily discharges'' over a calendar week, calculated as the sum of all "daily discharges'' measured during a calendar week divided by the number of "daily discharges'' measured during that week. Each of the following 7-day periods is defined as a calendar week: Week 1 is Days 1 - 7 of the month; Week 2 is Days 8 - 14; Week 3 is Days 15 - 21; and Week 4 is Days 22 - 28. If the "daily discharge" on days 29, 30 or 31 exceeds the "average weekly" discharge limitation, Ohio EPA may elect to evaluate the last 7 days of the month as Week 4 instead of Days 22 - 28. Compliance with fecal coliform bacteria or E coli bacteria limitations shall be determined using the geometric mean.

  • Minimum Weighted Average Spread Test means a test that will be satisfied on any day if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such day is equal to or greater than 5.5%

  • Opening Average Share Value means the average, over the trading days in the Opening Average Period, of the closing price of a company’s stock multiplied by the Accumulated Shares for each trading day during the Opening Average Period.

  • Average Compensation means the average of your W-2 wages from the Company for the five (5) calendar years completed immediately prior to the calendar year in which the Change in Control is effected. Any W-2 wages for a partial year of employment will be annualized, in accordance with the frequency which such wages are paid during such partial year, before inclusion in Average Compensation.