Alicia has been working for JMM Corp. for 32 years. Alicia participates in JMMs defined benefit plan.

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Alicia has been working for JMM Corp. for 32 years. Alicia participates in JMM’s defined benefit plan. Under the plan, for every year of service for JMM she is to receive 2 percent of the average salary of her three highest years of compensation from JMM. She retired on January 1, 2016. Before retirement, her annual salary was $570,000, $600,000, and $630,000 for 2013, 2014, and 2015. What is the maximum benefit Alicia can receive in 2016?

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McGraw-Hill's Taxation Of Individuals

ISBN: 9781259729027

2017 Edition

Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

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