Stefan is thinking of retiring next month, when he turns 65. His wife, Elsie, age...
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Stefan is thinking of retiring next month, when he turns 65. His wife, Elsie, age 68, is also considering retiring. Both have worked for their respective companies for 25 years, earning about the same amount of money. Two years ago, they decided to work part time so that they could spend more time travelling. Stefans defined benefit plan is a career average plan, paying 2% of earnings for each year of service. Elsies defined benefit plan is a best average
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