Sec. 2. "Compensation" means the sum of the following: (1) The fiscal year salary received by an employee. (2) An amount not to exceed two thousand dollars ($2,000) received from the state educational institution in contemplation of the employee's retirement, including severance pay, termination pay, retirement bonus, or commutation of sick leave or personal leave. [Pre-2007 Higher Education Recodification Citation: 21-6.1-8-1(1).]
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