§ 20-204. Average final compensation - Retirement systems.
(a) Scope of section.- This section applies only to:
(1) the Correctional Officers' Retirement System;
(2) the Employees' Retirement System;
(3) the State Police Retirement System; or
(4) the Teachers' Retirement System.
(b) In general.- Except as provided in subsection (c) of this section, the average final compensation of a member equals the average annual earnable compensation of the member for:
(1) the 3 years of employment as a member during which the member's earnable compensation was highest, if the member was employed at least 3 years as a member; or
(2) the member's total period of employment, if the member was employed less than 3 years as a member.
(c) Exceptions.-
(1) Except for a salary increase because of a member's promotion, the member's average final compensation does not include a salary increase in the last 3 years of employment if it is an extraordinary salary increase according to regulations that the Board of Trustees adopts.
(2) (i) This paragraph applies only to a member of the State Police Retirement System.
(ii) If a member of the State Police Retirement System who transferred from another actuarial retirement system in the State retires after less than 3 years of employment as a member of the State Police Retirement System, the earnable compensation as a member in the other system shall be used in the determination of average final compensation.
§ 20-204. Average final compensation - Retirement systems.
(a) Scope of section.- This section applies only to:
(1) the Correctional Officers' Retirement System;
(2) the Employees' Retirement System;
(3) the State Police Retirement System; or
(4) the Teachers' Retirement System.
(b) In general.- Except as provided in subsection (c) of this section, the average final compensation of a member equals the average annual earnable compensation of the member for:
(1) the 3 years of employment as a member during which the member's earnable compensation was highest, if the member was employed at least 3 years as a member; or
(2) the member's total period of employment, if the member was employed less than 3 years as a member.
(c) Exceptions.-
(1) Except for a salary increase because of a member's promotion, the member's average final compensation does not include a salary increase in the last 3 years of employment if it is an extraordinary salary increase according to regulations that the Board of Trustees adopts.
(2) (i) This paragraph applies only to a member of the State Police Retirement System.
(ii) If a member of the State Police Retirement System who transferred from another actuarial retirement system in the State retires after less than 3 years of employment as a member of the State Police Retirement System, the earnable compensation as a member in the other system shall be used in the determination of average final compensation.
§ 20-204. Average final compensation - Retirement systems.
(a) Scope of section.- This section applies only to:
(1) the Correctional Officers' Retirement System;
(2) the Employees' Retirement System;
(3) the State Police Retirement System; or
(4) the Teachers' Retirement System.
(b) In general.- Except as provided in subsection (c) of this section, the average final compensation of a member equals the average annual earnable compensation of the member for:
(1) the 3 years of employment as a member during which the member's earnable compensation was highest, if the member was employed at least 3 years as a member; or
(2) the member's total period of employment, if the member was employed less than 3 years as a member.
(c) Exceptions.-
(1) Except for a salary increase because of a member's promotion, the member's average final compensation does not include a salary increase in the last 3 years of employment if it is an extraordinary salary increase according to regulations that the Board of Trustees adopts.
(2) (i) This paragraph applies only to a member of the State Police Retirement System.
(ii) If a member of the State Police Retirement System who transferred from another actuarial retirement system in the State retires after less than 3 years of employment as a member of the State Police Retirement System, the earnable compensation as a member in the other system shall be used in the determination of average final compensation.
