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TEMPORARY PAY ADJUSTMENT AND RETRO PAY EXAMPLE

For pension purposes, temporary pay adjustments and retro pay adjustments are reallocated from the year they were paid to the year in which they were earned.


In this example, the following assumptions are made:

  • of the $42,200 paid in 2011, $500 was a lump sum retro pay

  • $200 of the $500 pertained to hours worked in 2010

  2010  2011 2012  2013 "Highest 3-Year" Average
           
Earnings before retro reallocation   $41,000   $42,200
  $43,000   $44,000
Not Applicable
           
Earnings after retro reallocation
(as will appear on your 2013 pension statement)
$41,200 $42,000 $43,000 $44,000 $43,000
           

 


 


 


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