6.) Use the pension formula (including a projection of future salary levels) to determine the retirement benefits earned to date. Write the answer in on the cover sheet. FACTS: The company has a defined benefit plan Preston's salary at the end of 2017 is Retirement expected after Retirement period is expected to be Interest Rate Benefits are calculated as a formula as the product of: Service already provided Percentage Final year's salary is projected to be $ 145,000 30 20 3.5% years of service years years 12 2.2% $ 240,000 6.) Use the pension formula (including a projection of future salary levels) to determine the retirement benefits earned to date. Write the answer in on the cover sheet. FACTS: The company has a defined benefit plan Preston's salary at the end of 2017 is Retirement expected after Retirement period is expected to be Interest Rate Benefits are calculated as a formula as the product of: Service already provided Percentage Final year's salary is projected to be $ 145,000 30 20 3.5% years of service years years 12 2.2% $ 240,000