The ABC corporation pension plan provides a lifetime annual income to its employees upon retirement at age $65.$ The plan provides $2\%$ for each year of service of the average of the employee's earnings for their last $2$ years on the job.

Mark retires at age $65$ with $16$ years of service. His earnings for his last $2$ years were $$55,638$ and $$55,376.$ What is his annual pension benefit?