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25-Mary Ann Anderson is a member of a defined benefit integrated pension plan with the following formula: 1.5% of the average best 5 years of
25-Mary Ann Anderson is a member of a defined benefit integrated pension plan with the following formula:
1.5% of the average best 5 years of earnings up to the 3 year average of the year's maximum pensionable earnings (YMPE) plus
2.5% of the average best 5 years of earnings that are above the 3 year average of the YMPE.
Mary Ann's earnings were $67,250.00; the YMPE is $64,900.00.
Calculate the pension adjustment for Mary Ann, assuming that she worked and was a member of the pension plan for the full calendar year
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