Estebans employer offers a pension plan that calculates the annual pension as the product of the final
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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%
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Related Book For
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
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