Final Average Compensation (FAC): For Retirement and Survivor Benefits - Final Average Compensation is the the average of the highest 48 highest consecutive months over the last 120 months of service. For alternative formula members, FAC is the final rate of pay, the average of the last 48 months of service, or the average of the highest consecutive 48 months of service over the last 120 months of service (for members in service before January 1, 1998), whichever is greater. For Death and Disability Benefits - Final Average Compensation is the rate of pay at the date of death or disability, or the 48 highest consecutive months of service within the last 120 months, whichever is greater.