What does FAP stand for?

Final Average Pay (often used to determine pension benefits)

This definition appears very rarely and is found in the following Acronym Finder categories:

Business, finance, etc.

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Samples in periodicals archive:

The defined benefit portion of the plan must provide a benefit that is at least equal to 1 percent of each employee's final average pay times years of service, with a maximum required benefit of 20 percent of final average pay.

Your retirement: federal changes that you need to know

Under a pension equity plan, a participant's lump-sum benefit equals a percentage of his or her final average pay multiplied by the number of years of credited service.

The Future of Cash Balance Retirement Plans after Cooper v. IBM and ...

In the past, he says, SERPs were generally calculated as a multiple of final average pay times years of service.

Executive pay seen as global concern

While showing the results for a final average pay plan here, the results for other types of plans show very similar tendencies.

Towers Perrin Provides Comparison and Analysis of the Three Major ...

After 20 years, a participant had a right to retirement income of 35 percent of final average pay at age 65 (less a small portion of his Social Security).

A pension plan for today

A well-designed Retirement Shares Plan will provide retirement income comparable to that of a final average pay defined benefit plan, while also offering the retiree the potential of a growing income during retirement.

Mercer Human Resource Consulting Introduces an Innovative Retirement ...

Most local plans provide that final average pay will be determined as of the day an employee leaves the company sponsoring the plan, not the group of companies making up the multinational corporation.

International employees: are they losing out on retirement?

Almost two-thirds (65%) of responding companies would gross up CIC payments to cover tax penalties one or more executives would face if their CIC payments exceeded the Internal Revenue Code's limit of three-times final average pay.

Increased Takeover Activity has Companies Reviewing Golden Parachute ...