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3. An employee with 25 years of service at a company is considering retirement at some time in the next 20 years. The employer uses
3. An employee with 25 years of service at a company is considering retirement at some time in the next 20 years. The employer uses a final pay benefit formula by which the employee receives an annual benefit payment of 3.5 percent of her average salary during her las five years of service times her total years employed. The employee's average salary over the last 5 years of service is as follows
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