Viewing page 40 of 102
This transcription has been completed. Contact us with corrections.
- 19 - MONTHLY COMPENSATION (c) The "monthly compensation" shall be the average compensation paid to a pilot with respect to calendar months included in his years of service, other than military service, except that with respect to service prior to July 1, 1949, the monthly compensation shall be calculated as follows: (A) for a pilot whose compensation in 1948 was based wholly on a stipulated rate or rates of compensation for fixed units of time, divide the total compensation paid to such pilot in the calendar year 1948 by the number of months with respect to which such compensation was paid; (B) for a pilot, the amount of whose compensation in each month of service in 1948 was dependent in whole or in part upon the number of flight hours, (i) divide the total compensation paid to such pilot with respect to pay periods in 1948 by the number of flight hours in such year, and (ii) multiply the quotient in (i) by 83-1/3; (C) for a pilot, the amount of whose compensation in some months of service in 1948 was based wholly on a stipulated rate or rates of compensation for fixed units of time and whose compensation in other months was dependent in whole or in part on the number of flight hours, (i) divide the compensation paid to such pilot with respect to the months in 1948 in which the amount thereof was dependent in whole or in part on the number of flight hours by the number of such hours of such pilot in such months; (11) multiply the quotient in (i) by the product of the number of months used in (i) times 83-1/3; (iii) add the product in (ii)to the compensation paid to such pilot with respect to the months in 1948 in which the amount of such compensation was based wholly on a stipulated rate or rates of compensation for fixed units of time; and (iv) divide the sum in (iii) by the months of service in 1948. PROVIDED, HOWEVER, That where the number of flight hours in the year 1948 is, in the judgment of the Board, insufficient to constitute a fair and equitable basis for determining the amount of compensation paid to him in each month of service before July 1, 1949, the Board shall determine the amount of such compensation for each such month in such manner as in its judgment shall be fair and equitable. In computing the monthly compensation, no part of any compensation paid in any one calendar year in excess of $12,000 shall be recognized, nor shall the monthly compensation with respect to service prior to July 1, 1949, exceed $1000. (d) No retirement annuity payable to a pilot who, at the time of retiring under or becoming disabled in accordance with paragraph 1, 2, 3, 4, or 5 of section 2(a) had an employment relation to the air transport industry as defined in section 2(a)4, or who will have become entitled to an annuity pursuant to one of the said paragraphs, based on not less than 20 years of service, shall be less than $200. (e) Retirement annuity payments which will have become due an individual but not yet paid at death shall be paid to the same individual or individuals who may be entitled to receive any annuities or lump sums which will have become payable under the provisions of section 4. In the event that an annuity or lump sum benefit is payable under section 4 to two or more individuals by reason of the death of an individual to whom retirement annuity payments were due but unpaid at death, such unpaid retirement annuity payments shall be divided among such individuals in the same ratio as the annuity or benefit payments under section 4. (f) A retirement annuity shall accrue with respect to the whole of the calendar month in which an annuitant dies, but not thereafter.
