Assume that Lee Sung, age 30, begins employment with HTSM Corp. on January 1, 2019, at a starting salary of $37,500. It is expected that Lee will work for HTSM Corp. for 35 years, retiring on December 31, 2053, when Lee is 65 years old. Taking into account estimated compensation increases of approximately 4% per year, Lees salary at retirement is expected to be $150,000. Further assume that mortality tables indicate the life expectancy of someone age 65 in 2053 is 12 years. The company has the following pension benefit formula: Annual pension benefit on retirement = 2% final salary years of service. A discount rate of 6% is assumed to be the current yield on high-quality debt instruments. Assume it is now 2021, three years after the defined benefit pension plan was initiated. In December 2021, HTSMs actuary provided the company with an actuarial revaluation of the plan. The actuarys assumptions included the following changes: Estimated final salary on retirement $146,000 Current settlement/discount rate 7%

Question 2 of 4 -/45 E View Policies Current Attempt in Progress Assume that Lee Sung, age 30, begins employment with HTSM Corp. on January 1, 2019. at a starting salary of $37.500. It is expected that Lee will work for HTSM Corp. for 35 years, retiring on December 31, 2053, when Lee is 65 years old. Taking into account estimated compensation increases of approximately 4% per year. Lee's salary at retirement is expected to be $150,000. Further assume that mortality tables indicate the life expectancy of someone age 65 in 2053 is 12 years. The company has the following pension benefit formula: Annual pension benefit on retirement - 2% final salary years of service. A discount rate of 6% is assumed to be the current yield on high-quality debt instruments, Assume it is now 2021. three years after the defined benent pension plan was initiated. In December 2021. HTSM's actuary provided the company with an actuarial revaluation of the plan. The actuary's assumptions included the following changes: Estimated final salary on retirement $146,000 Current settlement/discount rate 79 Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Calculate the defined benefit obligatii calculator of Excel functions for your Ertakla Wed meet.google.com is sharing your screen Stop sharing Hie gain or loss. Use a financial ecimal places as displayed in the wal o IT -osa Cc -745 111