Question: An employer uses a final pay formula to determine retirement

An employer uses a final pay formula to determine retirement payouts to its employees. The annual payout is 3 percent of the average salary over the employees’ last three years of service times the total years employed. Calculate the annual benefit under the following scenarios.
Years Average Salary during the
Worked Last Three Years of Service
17 ............ $ 40,000
20 ............ 47,000
22 ............ 50,000




Sale on SolutionInn
Sales0
Views62
Comments
  • CreatedJanuary 27, 2015
  • Files Included
Post your question
5000