N.Y. RSS Law § 608 — New York Code / Act RSS / Article 15 / Section 608
Final average salary
Status: in_force

§ 608. Final average salary. a. A member's final average salary shall\nbe the average wages earned by such a member during any three\nconsecutive years which provide the highest average wage; provided,\nhowever, if the wages earned during any year included in the period used\nto determine final average salary exceeds that of the average of the\nprevious two years by more than ten percent, the amount in excess of ten\npercent shall be excluded from the computation of final average salary.\nWhere the period used to determine final average salary is the period\nwhich immediately precedes the date of retirement, any month or months\n(not in excess of twelve) which would otherwise be included in computing\nfinal average salary but during which the member was on authorized leave\nof absence at partial pay or without pay shall be excluded from the\ncomputation of final average salary and the month or an equal number of\nmonths immediately preceding such period shall be substituted in lieu\nthereof.\n  b. Notwithstanding the provisions of subdivision a of this section,\nwith respect to members of the New York state and local employees'\nretirement system and the New York city teachers' retirement system, a\nmember's final average salary shall be equal to one-third of the highest\ntotal wages earned by such member during any continuous period of\nemployment for which the member was credited with three years of service\ncredit; provided, however, if the wages earned during any year of\ncredited service included in the period used to determine final average\nsalary exceeds the average of the wages of the previous two years of\ncredited service by more than ten percent, the amount in excess of ten\npercent shall be excluded from the computation of final average salary.\n  c. Notwithstanding the provisions of subdivisions a and b of this\nsection, the final average salary of an employee who has been a member\nof the New York city employees' retirement system or the New York city\nteachers' retirement system for less than one year shall be the\nprojected one year salary, with the calculation based upon a twelve\nmonth projection of the sums earned in the portion of the year worked.\nIf a member has been employed for more than one year but less than two\nyears, then the member's final average salary shall be the average of\nthe first year and projected second year earnings based upon the\ncalculation above, and if more than two years, but less than three\nyears, then one-third the total of the first two years of employment\nplus the projected third year's earnings, calculated as indicated above,\nprovided that this subdivision shall not apply to a New York city\nrevised plan member of the New York city employees' retirement system or\na New York city revised plan member of the New York city teachers'\nretirement system.\n  d. Subject to the provisions of subdivision c of this section, and\nnotwithstanding the provisions of subdivision a of this section, with\nrespect to members of the New York city employees' retirement system and\nthe New York city board of education retirement system who are subject\nto the provisions of this article, a member's final average salary shall\nbe determined pursuant to the provisions of paragraph fourteen of\nsubdivision e of section 13-638.4 of the administrative code of the city\nof New York, provided, however, that the applicable provisions and\nlimitations of the term "wages", as defined in subdivision l of section\nsix hundred one of this article, shall apply to such determinations of\nfinal average salary.\n  e. With respect to a member covered by the provisions of section six\nhundred five-c of this article, final average compensation shall be the\naverage wages earned by such a member during any five consecutive years\nwhich provide the highest average wage; provided, however, if the wages\nearned during any year included in the period used to determine final\naverage compensation exceeds that of the average of the previous two\nyears by more than ten percent, the amount in excess of ten percent\nshall be excluded from the computation of final average compensation.\n