Question
Alicia has been working for JMM Corp. for 32 years. Alicia participates in JMMs defined benefit plan. Under the plan, for every year of service
Alicia has been working for JMM Corp. for 32 years. Alicia participates in JMMs defined benefit plan. Under the plan, for every year of service for JMM she is to receive 2 percent of the average salary of her three highest years of compensation from JMM. She retired on January 1, 2018. Before retirement, her annual salary was $573,000, $603,000, and $633,000 for 2015, 2016, and 2017. What is the maximum benefit Alicia can receive in 2018?
What is the MAXIMUM benefit in 2018?
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Consolidated Financial Reporting
Authors: Paul Taylor
1st Edition
1853962503, 9781853962509
