Teacher & Employee Retention Incentive (TERI): M. If I participate in the TERI program, will I be eligible for cost-of-living, merit and performance salary increases?
Yes. Consideration for cost-of-living, merit and performance raises will be the same for TERI participants as for all other employees. However, pay increases you receive after entering the TERI program will not increase your average final compensation, which is calculated at the time you enter the TERI program. Your retirement benefit is calculated using your average final compensation, which means the average of your 12 highest consecutive quarters of earnings—normally, but not necessarily—your last 12 quarters.