Circuit Technologies offers their employees a flat pension plan in which a predetermined dollar amount (multiplier) is multiplied by the number of years of service to determine the monthly pension benefit using the schedule shown.

After working at Circuit for 23 years, Jane is considering leaving her current job. She has been told that there will be a 2.05% cost of living adjustment (COLA) to the multiplier soon after she retires. Calculate Jane’s pension before and after the COLA adjustment.

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Years Employed 15-19 20-25 30+ Multiplier $52 $57 $60