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Alex is a member of a contributory, best-earnings, defined-benefit plan. For 2019, Alex's contributory earnings were $63,110 and the YMPE was $57,400. The first contribution
Alex is a member of a contributory, best-earnings, defined-benefit plan. For 2019, Alex's contributory earnings were $63,110 and the YMPE was $57,400. The first contribution rate on amounts to the YMPE is 5% and the second contribution rate is 9% on amounts above YMPE. How much is Alex required to contribute to the plan?
$8,835.40
$8,036.00
$3,669.40
$3,383.90
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