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1' living increases in accordance with Code §401(a)(17)(B). Except for purposes of determining the maximum 3-highest consecutive year average r compensation under Code §415, in determining average compensation and accrued benefits for any plan year which begins on or after January 1, 2002, the annual compensation for each participant which is taken into account shall not exceed $200,000, as adjusted for cost-of-living increases in accordance with Code §401(a)(17)(B). The $200,000 limit on annual ; compensation shall be adjusted for cost-of-living increases in accordance with Code §401(a)(17)(B). The cost-of-living adjustment in effect for a calendar year applies to annual compensation for the determination period k. that begins with or within such calendar year. (d) Compensation Limitation Election Available To Certain Members: Except for purposes of determining Code §415 limitations, any member who is a highly compensated employee may elect for any plan year, on a form prescribed by the administrator, to limit his or her compensation for all purposes under this plan. (e) Certain Amounts Excluded From Compensation: However, notwithstanding the foregoing to the contrary, except for purposes of Code §415 limitations, any amount which would otherwise be considered compensation under this Section but which is received by a member as an expense allowance will not be considered compensation for purposes of the plan "Early retirement age" means the date prior to normal retirement age that the member has attained age 50 and has completed 20 years of service. "Employee" means any appointive probationary or permanent full-time commissioned salaried members of the police and fire departments of the city. In case of doubt as to whether any person is an employee within the meaning of this chapter, the decision of the board of trustees shall be final. "Member" means a member of the retirement system as defined in this section. "Normal retirement age" means the later of the date that the member completes twenty-five years of service after attaining age 50. "Pension" means the annual payments for life which shall be payable in equal monthly installments to a retiree or to a beneficiary. "Plan sponsor" shall mean the City of University City, a political subdivision of the state of Missouri. "Qualified military service" shall have the same meaning as defined in section 414(u) of the Code. Restated Police Pension Plan— City of University City Page 6