Laserfiche WebLink
2. Agreement - means this written instrument setting <br />forth the provisions of the Pension Plan. <br />3. Average Final Compensation - means one-twelfth <br />(1/12th) of the arithmetic average of Salary for the best five <br />(5) years of employment. For those Members who are employed for <br />fewer than five years, Average Final Compensation shall be the <br />arithmetic average of Earnings during the total months of employ- <br />ment. <br />4. Beneficiary - means the person or persons desig- <br />nated to receive benefits hereunder at the post-retirement death <br />of a Member who has been designated in writing by the Member and <br />filed with the Board. If no person so designated is living at <br />that time, the Beneficiary, if applicable, shall be the estate of <br />the Member. <br />5. Board - means the Board of Trustees, which shall <br />administer and manage the Plan herein provided and serve as <br />Trustees of the Fund. <br />6. City - means City of Casselberry, Florida. <br />7. Credited Service - means the total number of years <br />and fractional parts of years of service with the City as a <br />General Employee, but omitting intervening years and completed <br />months when such General Employee was not employed by the City. <br />"Fractional parts of years" shall mean a fraction whose numerator <br />is the number of completed days and whose denominator is 365. <br />Members whose service is interrupted by active <br />military service with the U. S. Armed Forces will receive benefit <br />2 <br />