UC RETIREMENT PLAN DOCUMENT - UPTE-CWA

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University of California Retirement Plan Article 2 2.29 FULL TIME EQUIVALENT COMPENSATION 2.30 Full Time Equivalent Compensation for a year means: (a) 100% of the Covered Compensation which a Member other than a Member in (b) or (c) below would earn if employed on a full time basis; or (b) 100% of the Covered Compensation which a faculty Member with a 9-month, 10-month, or 11-month appointment would earn if paid at the full time rate for the respective appointment; or (c) Effective August 1, 1992, 100% of the Covered Compensation which a staff Member with a 9-month, 10-month, or 11-month partial year appointment would earn if paid at the full time rate for the respective appointment; provided that, except as provided by law, the Full Time Equivalent Compensation for any Plan Year shall not exceed the annual limit set forth in Section 2.13(h). Full Time Equivalent Compensation for each month during a year means one-twelfth of the amount described above for a year. HIGHEST AVERAGE <strong>PLAN</strong> COMPENSATION (HAPC) Highest Average Plan Compensation (HAPC) means the highest average monthly Full Time Equivalent Compensation, including any applicable stipends, of an Active Member, Inactive Member, or Disabled Member during 36 continuous months as an Active Member of the Plan, or the actual period as an Active Member, if less. Months before and after an approved leave of absence without pay or a period of Inactive Membership shall be deemed continuous for the purpose of determining the 36 continuous month period. Months while on an approved leave without pay shall not be included in the 36 month period unless Service Credit has been established in accordance with Sections 5.04(d), 6.04(d), 7.05(d), or 8.04(e). Effective August 1, 1992, Highest Average Plan Compensation shall be determined without regard to the reduction in Covered Compensation paid to a Member on account of participation in the Time Reduction Incentive Plan (a temporary workforce reduction program in the 1992 to 1995 Plan Years). September 2004 28
University of California Retirement Plan Article 2 2.31 INACTIVE MEMBER 2.32 INTEREST CREDITS 2.33 LUMP SUM CASHOUT Highest Average Plan Compensation shall be determined without regard to the reduction in Covered Compensation paid to a Member on account of participation in the Staff and Academic Reduction in Time (START) program (a temporary workforce reduction program adopted by the University effective June 1, 2003 and ending June 30, 2005). The preceding sentence requires that a Member must work at least 50% time each month during the period of the Member’s START contract. Notwithstanding Section 2.13(h)(i)(A), for an Eligible Employee who first becomes an Active Member on or after July 1, 1994 and separates with a Service Credit accrual on or after July 1, 2002, the annual compensation limit of $200,000 established by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA ’01) will also apply to Full Time Equivalent Compensation for months prior to July 1, 2002 for purposes of calculating Highest Average Plan Compensation as permitted by EGTRRA ’01 and in accordance with Plan Regulations. This paragraph does not apply for purposes of Article 10. The Highest Average Plan Compensation shall be adjusted as described in Sections 5.11, 6.10, 7.10, 8.09, Appendix A Section 15(f), Appendix B Section 7, Appendix C Section 7, or Appendix D Section 7, in determining Retirement Income. Inactive Member means a person who was once an Active Member and who upon a Break in Service is eligible for Inactive Membership in accordance with Section 3.08. Interest Credits mean the amount allocated to eligible Members in accordance with Section 10.06. Lump Sum Cashout means an election by the Member as provided by Section 4.08 equal to the Actuarially Equivalent Basic Retirement Income, including the assumed cost of living adjustment, which would have been payable to the Member had the Member elected to retire. The Lump Sum Cashout is effective July 1, 1992. A Member who elects the September 2004 29
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UC RETIREMENT PLAN DOCUMENT - UPTE-CWA

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