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Board formalizes final‑average salary method: highest three years or last 78 pays
Summary
The board adopted a formal interpretation of county pension law allowing participants to use either the three highest calendar years or the rolling last 78 pays (about three years) for final‑average‑salary calculations; participants choose the method that yields the higher benefit.
Patrick Straub told the board the county interprets the statute to define final average salary as either the average annual compensation for the three highest years of service or the rolling last 78 pays (roughly three years). He said the practice will be memorialized so calculations are consistent.
Board discussion clarified that participants must choose one method—‘‘You have to choose option a or option b. You can’t mix and match among those,’’ a board member said—and that the policy will be applied prospectively when computing benefits. The motion to adopt the documented methodology and enter it into the record passed by voice vote.
Straub and other members said the intent is to be fair to participants and to reduce long‑standing confusion about the calculation method.
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