1. Naomi has been participating in a pension plan for 30 years. The formula provided in the plan document is $30 per month x your years as a plan member.

a) What type of defined benefit pension plan is Naomi a member of?

b) What will Naomis annual pension benefit be?

2. Harjit has been participating in a pension plan for 30 years. The formula provided in the plan document is 2% x your average salary in the past 5 years x your years as a plan member.

a) What type of defined benefit pension plan is Harjit a member of?

b) If Harjits salary in the last five years was $47,800, $48,200, $49,500, $51,500, and $53000, what will his annual pension benefit be?

3. Susan has been participating in a pension plan for 30 years. The formula provided in the plan document is 2% x your average salary in your career x your years as a plan member.

a) What type of defined benefit pension plan is Susan a member of?

b) If Susans career average salary was $30,000, what will her annual pension benefit be?

4. Explain what step-rate integration is and illustrate how it might work for a defined benefit plan.

5. What does vesting mean, and what role does vesting play in the history of pension standards regulation? Be clear and specific.

6. What is meant by the cooperation sought in the push towards uniformity of pension standards regulations? Be specific and answer fully.