(Answered) Replace rate under defined benefit plan

Determine the replacement rate in the following scenarios if an employee is enrolled in a defined benefit plan with the following benefit formula: 2.5% X Years of Service X Final Salary;a. Service = 10 years, final salary $40,000;b. Service = 10 years, final salary $60,000;c. Service = 20 years, final salary $60,000
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Replace rate under defined benefit plan

 


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