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What does FAP stand for?

FAP stands 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.

See other definitions of FAP

Other Resources:
We have 257 other meanings of FAP in our Acronym Attic

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.
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).
If an employer does not provide grandfathering provisions or other provisions such as those mentioned above for its long-term employees, some plan participants may earn a smaller retirement benefit for future years of service under the cash balance plan than they would have earned under the final average pay plan.