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At the end of the year, Carly is retiring after 15 years of participation in...

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Accounting

At the end of the year, Carly is retiring after 15 years of participation in her employer's defined benefit pension plan. The pension plan provides a benefit based on 1.5% of her best earnings over 3 consecutive years. Carly's earnings during the past 7 years are the highest throughout her career. Given the following earnings history, calculate Carly's annual pension. 2012 = $45,000 2013 = $47,000 2014 = $50,000 2015 = $51,000 2016 = $49,000 2017 = $50,000 2018 = $52,000

Question options:

$11,250

$11,325

$11,363

$11,700

Answer & Explanation Solved by verified expert
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