final average compensation

(i)The term “final average compensation” means the participant’s average annual compensation for— (I)the 3-consecutive year period ending with the current year, or (II)if shorter, the participant’s full period of service. (ii)A participant’s final average compensation shall be determined by not taking into account in any year compensation in excess of the contribution and benefit base in effect under section 230 of the Social Security Act for such year. (E)

Source

26 USC § 401(l)(5)(D)(i)


Scoping language

None: Default is title Scope
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