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Assume the Erin works for ABC Company, which sponsors a defined benefit plan with a benefit formula of 1.5% times the years of service times
Assume the Erin works for ABC Company, which sponsors a defined benefit plan with a benefit formula of 1.5% times the years of service times the average of her three highest years of salary. Erin worked for ABC for 40 years and that her highest three years of salary were $100,000, $105,000, and $110,000. She would be entitled to an annual benefit of how much per year.
$60,000
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$63,000
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$105,000
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None of the above |
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