Final Average Earnings

Final Average Earnings. Means the average monthly amount determined by dividing the total Earnings of a Participant for the three (3) consecutive Plan Years in which his Earnings were highest during the last fifteen (15) Plan Years of his Credited Service prior to or coincident with his actual retirement (or in the case of a Participant who is receiving disability benefits pursuant to Article 5 of the Retirement Plan, prior to the date he becomes totally and permanently disabled), or other date as of which calculation... in respect thereof is to be made, by thirty-six (36). In the event that the Participant shall have had Earnings for less than three (3) consecutive Plan Years, his total Earnings for such lesser number of consecutive Plan Years shall be divided by the product of 12 and the number such Plan Years during such total period. View More

Final Average Earnings. Means the average of the Participant's Monthly Earnings for the thirty-six (36) consecutive months out of the one hundred twenty (120) months next preceding the Participant's Termination of Employment which yields the highest average earnings. If the Participant has fewer than thirty-six (36) months of employment, the average shall be taken over his or her period of employment.