Examples of Highest average salary in a sentence
The lifetime retirement benefit for all eligible retiring employees under the PERA Benefit Structure is the greater of the: • Highest average salary multiplied by 2.5 percent and then multiplied by years of service credit • The value of the retiring employee’s member contribution account plus a 100 percent match on eligible amounts as of the retirement date.
Highest average salary multiplied by 2.5% and then multiplied by years of service credit.
Highest average salary is defined as the average of the highest 60 consecutive months of an employee’s cash compensation, which includes base salary and annual incentive cash compensation, but it excludes compensation under the LTIP.
The lifetime retirement benefit for all eligible retiring employees under the PERA Benefit Structure is the greater of the: Highest average salary multiplied by 2.5 percent and then multiplied by years of service credit The value of the retiring employee’s member contribution account plus a 100 percent match on eligible amounts as of the retirement date.
Highest average salary actually earned by the taxpayer during any five consecutive years in the service of the employer during his membership of the Fund.