For the purpose of computing all benefits under this plan, average monthly earnings
shall be the average of the monthly earnings of the highest three years' salary or
earnings during the terms of employment or, in the case of individuals specified in section 154-336(4), the highest monthly earnings attained by the person or officer during his employment.
In computing the average monthly earnings, if the officer or employee shall have received
a lump sum payment for compensation, accumulated vacation, sick leave, bonus pay,
or similar benefits, the amount of such payment shall be equally distributed over
the period of time in which such compensation or benefit was earned or accumulated.
(Code 1983, § 24-3-57)
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