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Question 27: (1 Point) Samuel participates in his employer's Defined-Benefit Pension Plan (DBPP). He is planning on retiring after 25 years of employment with the
Question 27: (1 Point) Samuel participates in his employer's Defined-Benefit Pension Plan (DBPP). He is planning on retiring after 25 years of employment with the government. His employer sponsors a 2% Defined- Benefit Pension Plan (DBPP) with the formula based on the average of his last 3 years of earnings. If Samuel's employment income has been $86,000, $83,000 and $80,000 in the last three years, what would be his annual pension income at retirement? $41,500 O $1,660 O $4.980 $83,000
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