What is the difference between a fluctuating pension system and a fixed pension system?
California, United States of America
The following excerpt is from Kreeft v. City of Oakland, 68 Cal.App.4th 46, 80 Cal.Rptr.2d 137 (Cal. App. 1998):
1 A "fluctuating" pension system may be contrasted with a "fixed" pension system in which benefits are based on the compensation paid to the retiree in a defined period before retirement. (Dunham v. City of Berkeley (1970) 7 Cal.App.3d 508, 511, fn. 1, 86 Cal.Rptr. 569.)
2 The percentage is determined by factors including years of service and age at retirement.
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