Estebans employer offers a pension plan that calculates the annual pension as the product of the final
Question:
Esteban’s employer offers a pension plan that calculates the annual pension as the product of the final average salary, the number of years of service, and a 2% multiplier. His employer uses a graded vesting formula according to the schedule shown. Esteban has decided to change jobs after 3 years of service. What percent of his pension will he receive when he retires?
Transcribed Image Text:
Years Employed 0 1 2 3 4 5 Vesting Percentage 0% 0% 28% 45% 78% 100%
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (5 reviews)
Solution His pens...View the full answer
Answered By
James Warinda
Hi! I’m James Otieno and I'm an experienced professional online tutor with countless hours of success in tutoring many subjects in different disciplines. Specifically, I have handled general management and general business as a tutor in Chegg, Help in Homework and Trans tutor accounts.
I believe that my experience has made me the perfect tutor for students of all ages, so I'm confident I can help you too with finding the solution to your problems. In addition, my approach is compatible with most educational methods and philosophies which means it will be easy for you to find a way in which we can work on things together. In addition, my long experience in the educational field has allowed me to develop a unique approach that is both productive and enjoyable.
I have tutored in course hero for quite some time and was among the top tutors awarded having high helpful rates and reviews. In addition, I have also been lucky enough to be nominated a finalist for the 2nd annual course hero award and the best tutor of the month in may 2022.
I will make sure that any student of yours will have an amazing time at learning with me, because I really care about helping people achieve their goals so if you don't have any worries or concerns whatsoever you should place your trust on me and let me help you get every single thing that you're looking for and more.
In my experience, I have observed that students tend to reach their potential in academics very easily when they are tutored by someone who is extremely dedicated to their academic career not just as a businessman but as a human being in general.
I have successfully tutored many students from different grades and from all sorts of backgrounds, so I'm confident I can help anyone find the solution to their problems and achieve
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
Question Posted:
Students also viewed these Mathematics questions
-
Grant's employer offers a pension plan that calculates the annual pension as the product of the final average salary, the number of years of service, and a 2% multiplier. His employer uses a graded...
-
Enter a formula in cell C6 that calculates the annual percentage change in Starbucks cash position from 2017 to 2018 using the data provided on the FinStms worksheet (make sure to use relative cell...
-
Consider a pension plan that pays beneficiaries in the following manner: at the end of the retirement year of a beneficiary the value of all benefits are transferred to his or her personal account....
-
Contact local employers and ask for copies of their employee handbooks. If none are available, research parent companies of local employers online to see if their employee handbooks are available....
-
The parametric equations of an ellipsoid are: x = a cosusinv, y = b sinusinv, z = c cosv where 0 Show that the differential volume element of the ellipsoid shown is given by: dV = -nabcsin3vdv Use...
-
La Femme Accessories Inc. produces women's handbags. The cost of producing 800 handbags is as follows: Direct materials............................................. $18,000 Direct...
-
From the following trial balance of R Graham draw up a trading and profit and loss account for the year ended 30 September 19X9, and a balance sheet as at that date. Dr Cr Stock 1 October 19X8 2,368...
-
Bavarian Chocolate Company processes chocolate into candy bars. The process begins by placing direct materials (raw chocolate, milk, and sugar) into the Blending Department. All materials are placed...
-
. In a recent audit, you tested 20% of transactions. The uninformed public believes that auditors test 75% of transactions, but those with an understanding of the audit process expect 50% testing....
-
Consider the mass m mounted on a mass less cart, as shown in Figure AP3.2. Determine the transfer function Y(s)/U(s), and use the transfer function to obtain a state-space representation of the...
-
Read the above quote. Interpret the quote in terms of what you have learned about budgets.
-
Circuit Technologies offers their employees a flat pension plan in which a predetermined dollar amount (multiplier) is multiplied by the number of years of service to determine the monthly pension...
-
A confidential poll by the polling company Giddyup showed that in a certain area 1 in 4 lawyers belong to a secret society; 2 out of 3 lawyers who are members of secret societies had lied to protect...
-
Complete your conflict management assessment here and then answer the following questions. What was your preferred Conflict Management Style? Do you have a clear preference or are you divided between...
-
3. Let X be a random variable with density fx(x). Suppose the density fx is symmetric about x = a; that is fx(a + x) = fx( - x). In a couple of simple steps, show that E[X] = .
-
If libraries were closed and access to information privatized, what would be the impact on communities and schools? If libraries were all to close or become restricted, where would individuals go to...
-
Simplify the expression. 75x6+ 27x6 Enter the exact answer.
-
Create one substantial response in which you answer both of the following questions: Is purpose necessary in a career? Include in your response: How you personally define purpose How you personally...
-
Because of rapidly advancing technology, Chicago Publications Corporation is considering replacing its existing typesetting machine with leased equipment. The old machine, purchased two years ago,...
-
Find the equation of the plane passing through the points P 5,4,3 ,Q 4,3,1 and R 1,5,4
-
Another way to score the visual analog scale is as a categorical variable where 50% improvement is considered a success and <50% improvement, remaining the same, or worsening is considered a failure....
-
Repeat the analyses in Problem 14.39, but account for covariate differences between groups?
-
What are the estimated incidence rates in the ASA and control groups? Cancer Suppose we wish to study the association between aspirin intake and the incidence of colon cancer. We find that 10% of...
-
Determine the magnitude of the resultan F = (10i + 20j)N and F1 F2 force, if F2 = (20i+20j) N O 30 N 40N O 50 N 60 N +
-
PAWS Pet Palace is a 'home away from home' for cats and dogs while their owners are away travelling. Eva, the PAWS manager plans on lining up 6 cats and 6 dogs for a picture to place on the Pet...
-
Determine whether the data described below are qualitative or quantitative and explain why. The weights of subjects in a clinical trial of a new drug Choose the correct answer below. OA. The data are...
Study smarter with the SolutionInn App