Final average monthly salary means the amount computed by dividing the
Final average monthly salary means the amount computed by dividing the compensation received during the final average salary period under each system by the number of months in the final average salary period.
Final average monthly salary means “Final Average Monthly Salary” as defined in the GRP.
More Definitions of Final average monthly salary
Final average monthly salary means "Final Average Monthly Salary" as defined in the General Retirement Plan.
Final average monthly salary means the sum of the Employee's Salary for the five consecutive calendar years of his service as a Member of this Plan in which
Final average monthly salary means (i) a Member's aggregate Salary from those five consecutive calendar years (or portions thereof), as taken from his compensation measuring period, which results in the greatest sum, then (ii) divided by 60. For purposes hereof, a Member's "compensation measuring period" means the ten consecutive calendar years (or portions thereof) ending with the calendar year which includes the later of (i) the date of his termination of employment or retirement with the Company and all Affiliates or (ii) the last day of the period described in Section 2.15(c) (regarding severance pay).
Final average monthly salary means, as of any date, the average of a participant's "monthly salary" for the 36 consecutive calendar months during the most recent 120 calendar months of employment preceding such date which will produce the highest average. For this purpose, a Participant's "monthly salary" is a Participant's basic compensation, exclusive of any extra earnings for overtime, special remuneration or other similar payments, paid or accrued to the Participant for any one month during a Plan Year. Effective December 1, 1988, "monthly salary" shall include any Salary Pre-Tax Deferral Contributions under the Phelps Dodge Savings Plan. Effective October 1, 1995, "monthly salary" shall include, in the Plan Year of payment, bonuses paid to a Participant under PD Partners. If a Participant has not been employed by an Employer for at least 36 consecutive months, Final Average Monthly Salary shall mean the average of the Participant's monthly salary during such lesser number of months of employment.
Final average monthly salary means Final Average Monthly Salary, as that term is defined in the Qualified Plan, except that Monthly Salary shall have the meaning as set forth in this Section 2.1.
Final average monthly salary means the greater of Final Average Monthly Salary or a final average monthly salary calculated as if the Participant had received an annual 4% increase to his base salary on each anniversary of the date such Participant's base salary was increased prior to September 2, 1988; provided, however, that such calculation shall be adjusted in accordance with any benefits paid to such Participant from the PPG Industries, Inc. Permanent Termination Salary Extension Plan.
Final average monthly salary means the average gross amount of the Executive’s basic monthly salary determined in accordance with the Bank’s customary payroll practices, before tax withholding and other payroll deductions and including deferred salary compensation when credited rather than when paid, but excluding bonus or incentive awards, director fees paid to the Executive by the Bank or its Affiliates and any accelerated payments of future salary. “Final Average Monthly Salary” shall be computed based on the highest paid thirty-six (36) consecutive months of the Executive’s employment with the Bank.