A firm's defined benefit payment formula is based on an employee's last 3 years average...
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A firm's defined benefit payment formula is based on an employee's last 3 years average annual salary, years of service and a 2% multiplier.
What is an employee's annual defined benefit payment given the following information:
Last 3 years annual salary history = 67,000 / 69,000 / 75,000
Years of employment service = 23
$34,500
$75,000
$32,353
$70,333
A firm's defined benefit payment formula is based on an employee's last 3 years average annual salary, years of service and a 2% multiplier.
What is an employee's annual defined benefit payment given the following information:
Last 3 years annual salary history = 67,000 / 69,000 / 75,000
Years of employment service = 23
| $34,500 | ||
| $75,000 | ||
| $32,353 | ||
| $70,333 |
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