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Lillian has a defined benefit plan that promises an annual retirement benefit based on 2 percent of her final 3-year average annual salary for each
Lillian has a defined benefit plan that promises an annual retirement benefit based on 2 percent of her final 3-year average annual salary for each year of service. At retirement, Lillian has 15 years of service and had an average salary of $65,000 over the last 3 years. What is the amount of her annual benefit? S65,000 $50,500 $35,400 $19,500 S0
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