Lillian has a defined benefit plan that promises an annual retirement benefit based on 2 percent of her final 3-year average annual salary for each year of service.At retirement,Lillian has 15 years of service and had an average salary of $65,000 over the last 3 years.What is the amount of her annual benefit?
A)$65,000
B)$50,500
C)$35,400
D)$19,500
E)$0

Question

Quizplus · Accepted Answer

Lillian's annual benefit is calculated as 2% of her average salary for each year of service: 0.02 * $65,000 * 15 = $19,500.

Lillian Has a Defined Benefit Plan That Promises an Annual