Is regular compensation the same as total compensation?

No. Regular compensation is the portion of your salary that is subject to retirement contributions. Over time, bonus pay, severance pay, any payments made for unused sick time, and several other payments, are not considered regular compensation, are not subject to retirement and cannot be used towards your three-year average for the purpose of determining your retirement allowance.

Appears in: Retirement Board FAQs

Calendar of Events
Tue, Jul 5, 2022, 6:00 pm
via Zoom (link will be posted on the agenda)
Posted to: City Council
Thu, Jul 7, 2022, 4:15 pm - 5:45 pm
Virtual meeting live streamed at --- www.facebook.com/pthreeinc
Posted to: Library
Thu, Jul 7, 2022, 6:00 pm
Hybrid: Zoom and City Hall Meeting Room (Room 203)