Lillian has a defined benefit plan that promises a 2% annual retirement benefit based on the average of her last three years of salary.At retirement Lillian has 15 years of service and an average salary over the last three years of $65,000.What will her annual benefit be?
A) $65,000
B) $50,500
C) $35,400
D) $19,500
E) Cannot determine
Correct Answer:
Verified
Q105: The purpose of the Social Security retirement
Q106: Mandy and Michael Tombs are retiring soon.Their
Q107: Workers who retire early receive _ percent
Q108: If you are gradually vested in a
Q109: One can maximize the monthly Social Security
Q111: Social Security provides the average retired wage
Q112: Dr.Johnson is surgeon at University Hospital.She will
Q113: Of the following survivors of a fully
Q114: Social security benefits for retirees less than
Q115: Gordon and Lisa estimate that they will
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents