(a) Average final compensation, for the purpose of calculating entitlement to benefits under this plan, shall mean the average cash compensation exclusive of bonuses and incentive pay received by a firefighter during the three highest years of the last ten years of creditable service prior to retirement.
(b) Average annual compensation, for the purposes of determining compliance of provisions of the Internal Revenue Code, shall mean the member’s greatest aggregate compensation during the period of three (3) consecutive calendar years in which the individual is an active member of the plan. This provision relates solely to calculation of maximum pension earnings in section 18-180(b) of the Code of Ordinances and shall not be applicable to the determination of average final compensation as defined in section 18-183(a) or referred to in the determination of monthly retirement income in section 18-180(a).
(Code 1958, § 21-94; Ord. No. 89-26, § 1, 9-19-89; Ord. No. 93-16, § 2, 6-15-93; Ord. No. 00-19, § 4, 6-6-00; Ord. No. 02-005, § 1, 2-5-02)