Retention cost definition
Retention cost means the current annual salary and fringe benefits cost of the retiring faculty member, including any increases in salary or fringe benefits approved prior to the effective date of a Program Agreement.
Retention cost means the last salary (including any increases in salary prior to the effective date of retirement), benefits (including the City's portion of retirement costs) and FICA taxes for the eligible employee.
Retention cost means the last annual salary and fringe benefits cost of the retiring Eligible Employee, including any increases in salary or fringe benefits approved prior to the effective date of an Agreement.