Sentences with phrase «average salary multiplied»

Monthly payments are usually calculated as final average salary multiplied by years of service multiplied by a set multiplier (such as 1.5).

provides an annual pension equal to 2 percent of the worker's final average salary multiplied by years of service.

The plan provides an annual pension equal to 2 percent of the worker's final average salary multiplied by years of service.

Not exact matches

with the pieces currently in place («Back on the envelope» calculation — this takes the average proportion of the salary cap devoted to corners and multiplies it by the projected 2018 cap number with no assumption for a rainy day fund).

Teacher pension formulas usually include the following variables: years of service, final average salary, and a benefit multiplier determined by individual states and plans.

Under these plans, a teacher's retirement benefit is based on a combination of factors: how many years he or she worked, some percentage (also known as a «multiplier» or «accrual factor,» for instance 2 percent), and a final average salary (FAS).

The state then multiplies the required positions by their respective salary levels, based on district averages.

Pension benefits are calculated by multiplying a teacher's average final salary by total years of service by a benefit multiplier.

The St. Louis plan's «pension multiplier,» a value that helps determine each retiree's pension payout, is set at 2 percent of their final average salary, lower than the 2.5 percent in the state plan.

Benefits are awarded (regardless of productivity) according to a worker's years of service, final average salary, and a benefit multiplier

Just look at the credits for either game and you'll see how many people are required to make these games, then multiply that number of people by an average salary for a year.

Finally, it multiplied the calculated years of full time service by the employee's average bi-weekly salary to determine the quantum of the allowance.