Question
1.Frieda has semi-monthly vacationable earnings of$1,480.00and her vacation pay rate is4%. What amount will be accrued to vacation pay payable for the month of October?
1.Frieda has semi-monthly vacationable earnings of$1,480.00and her vacation pay rate is4%. What amount will be accrued to vacation pay payable for the month of October?
2.Pascal Leclerc is a member of a defined benefit integrated pension plan with the following formula:
1%of the average best 5 years of earnings up to the 3 year average of the year's maximum pensionable earnings (YMPE) plus
3%of the average best 5 years of earnings that are above the 3 year average of the YMPE
Pascal's earnings were$69,925.00; the YMPE is$58,700.00.
Calculate the pension adjustment for Pascal, assuming that he worked and was a member of the pension plan for the full calendar year.
3.Lori contributes2%of her annual earnings of$38,900.00to her defined contribution pension plan. Her employer matches her contributions. Calculate Lori's pension adjustment.
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