You are a member of a defined-benefit plan that pays a two percent benefit for each year of service based on your best five year's earnings.If you qualify for an unreduced pension and have worked for the company for 30 years,your pension will be approximately
A) The answer is unknown because the benefit must be calculated by an actuary.
B) 60 percent of the average of your best five years' earnings.
C) 50 percent of the average of your best five years' earnings.
D) 60 percent of the average of your last five years' earnings.
Correct Answer:
Verified
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