The amount of the monthly ordinary service pension payable to a retired member shall be the sum of 2.5% of final average compensation multiplied by years of service up to 20 years inclusive, plus 3.5% of final average compensation multiplied by years of service above 20 years.

64 Del. Laws, c. 445, § ?1; 70 Del. Laws, c. 186, § ?1; 75 Del. Laws, c. 133, § ?1;

Terms Used In Delaware Code Title 11 Sec. 8818

  • Compensation: shall mean all salary or wages, excluding overtime payments and special payments for extra duties, payable to a member for service. See Delaware Code Title 11 Sec. 8801
  • Final average compensation: shall mean 1/3 6 of the compensation paid to an employee during any period of 36 consecutive months for services rendered during those 36 months, in the years of credited service in which the compensation was highest. See Delaware Code Title 11 Sec. 8801
  • Member: shall mean a person who is an employee on or after the date the employer affiliates with the Fund. See Delaware Code Title 11 Sec. 8801
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