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Nicole Chow is a member of a defined benefit integrated pension plan with the following formula: 1.75% of the average best 5 years of earnings
Nicole Chow is a member of a defined benefit integrated pension plan with the following formula: 1.75% of the average best 5 years of earnings up to the 3 year average of the years maximum pensionable earnings (YMPE) plus 2.5% of the average best 5 years of earnings that are above the 3 year average of the YMPE. Nicoles earnings were $67,730.00; the YMPE is $61,600.00. Calculate the pension adjustment for Nicole, assuming that she worked and was a member of the pension plan for the full calendar year.
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