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Correct answers finally please Sachs Brands's defined behefit pension plan specifies annual retirement benefits equal to 16% service years final year's salary. payable at the
Correct answers finally please
Sachs Brands's defined behefit pension plan specifies annual retirement benefits equal to 16% service years final year's salary. payable at the end of each year. Angela Davenport was hired by Sachs at the beginning of 2010 and is expected to retire at the end of 2044 after 35 years' service. Her retirement is expected to span 18 years, Davenport's salary is $90,000 at the end of 2024 and the company's actuary projects her salary to be $240.000 at retirement. The actuaty's discount rate is 78 Required: 2. Estimate by the projected benefits approach the omount of Daveriport's annual retirement payments earned as of the end of 2024 3. What is the company's projected benefit obligation at the end of 2024 with respect to Dovenport? Note: Do not round intermediate calculations. Round your final aniwer to the nearest whole dollor. 4. If no estimates are chapged in the cieantione what wil be the company's projected benefit obigation at the end of 2022 (three years later) with respect to Davenport? Note: Do not round intermediste calculations. Round your final answer to the nearest whole dollar Step by Step Solution
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