§ 512 — Final average salary

§ 512. 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.\nIn determining final average salary pursuant to any provision of this\nsubdivision, where the period used to determine final average salary is\nthe period which immediately precedes the date of retirement, any month\nor months (not in excess of twelve) which would otherwise be included in\ncomputing final average salary but during which the member was on\nauthorized leave of absence at partial pay or without pay shall be\nexcluded from the computation of final average salary and the month or\nan equal number of months immediately preceding such period shall be\nsubstituted in lieu thereof.\n b. Notwithstanding the provisions of subdivision a of this section,\nwith respect to members of the New York state employees' retirement\nsystem, the New York state and local police and fire retirement system\nand the New York city teachers' retirement system, a member's final\naverage salary shall be equal to one-third of the highest total wages\nearned during any continuous period of employment for which the member\nwas credited with three years of service credit; provided, however, if\nthe wages earned during any year of credited service included the period\nused to determine final average salary exceeds the average of the wages\nof the previous two years of credited service by more than ten percent,\nthe amount in excess of ten percent shall be excluded from the\ncomputation 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 (other than a New York\ncity correction/sanitation revised plan member or an investigator\nrevised plan member) or the New York city teachers' retirement system\nfor less than one year shall be the projected one year salary, with the\ncalculation based upon a twelve month projection of the sums earned in\nthe portion of the year worked. If a member has been employed for more\nthan one year but less than two years, then the member's final average\nsalary shall be the average of the first year and projected second year\nearnings based upon the calculation above, and if more than two years,\nbut less than three years, then one-third the total of the first two\nyears of employment plus the projected third year's earnings, calculated\nas indicated above.\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\n(other than a New York city uniformed correction/sanitation revised plan\nmember or an investigator revised plan member) and the New York city\nboard of education retirement system who are subject to the provisions\nof this article, a member's final average salary shall be determined\npursuant to the provisions of paragraph thirteen of subdivision e of\nsection 13-638.4 of the administrative code of the city of New York.\n