many federal allu Slale UI IUCdl goverment pension TUMUS. PROBLEMS Calculate the annual benefit payment for retirement now, in 5 years, and in 10 years. (LG 18-2) 1. Your employer uses a flat benefit formula to determine retirement payments to its employees. The fund pays an annual benefit of $2,500 per year of service. Calculate your annual benefit payments for 25, 28, and 30 years of service. (LG 18-2) 2. An employer uses a career average formula to determine retirement payments to its employees. The annual retirement payout is 5 percent of an employee's career average salary times the number of years of service. Calculate the annual benefit payment under the following scenarios. (LG 18-2) 33 35 Years Career Average Worked Salary 30 $60,000 62,500 64,000 An employee with 25 years of service at a company is con- Ting retirement at some time in the next 10 years. The Proyer uses a final pay benefit formula by which the employee receives an annual benefit payment of 3. I her average salary during her last five years of service es her total years employed. The employee's average sal- dry over the last 5 years of service is as follows: Retire now Retire in 5 years Retire in 10 years Average Salary during Last Five Years of Service $125.000 135.000 140,000