Since the calculation of the employee and employer's required contribution to a defined benefit plan is not
Fantastic news! We've Found the answer you've been seeking!
Question:
Since the calculation of the employee and employer's required contribution to a defined benefit plan is not done by calculating the contribution required for each employee, the government has devised a formula to calculate the PA for all types of defined benefit plans. What is this formula?
Apply the formula, if John's annual salary in 2020 was $ 50,000 and he earned 2% for that year of service.
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: ?978-0073379609
15th Edition
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
Posted Date: