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).]
As added by P.L.2-2007, SEC.279.