Question
A retiree receives defined benefit payments based on 25 years of service, an $88,000 average annual salary and a 1.75% multiplier. She retired at the
A retiree receives defined benefit payments based on 25 years of service, an $88,000 average annual salary and a 1.75% multiplier. She retired at the age of 62 and is currently 68 and has an expected lifespan of 82. The defined benefit plans annual Cost of Living Adjustment (COLA) is 1.80%. How much more in total benefits is she expected to receive based on her life expectancy?
A. $241,648
B. $675,396
C. $38,500
D.$599,895
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The Legal Environment Today Summarized Case Edition
Authors: Roger LeRoy Miller
8th Edition
130526276X, 978-1305279407, 1305279409, 978-1305704930, 1305704932, 978-1305262768
