At the end of 2020, Elizabeth Regina retired after 15 years of participation in her employer's defined benefit pension plan. The pension plan provides a benefit based on 1.5% of her best earnings over three consecutive years. Elizabeth's earnings during the past seven years are the highest throughout her career. Given the following earnings history, calculate Elizabeth's annual pension? 

2014 - $45,000 

2015 - $47,000 

2016 - $50,000 

2017 - $51,000 

2018 - $49,000 

2019 - $50,000 

2020 - $52,000 

Answer rating: 100% (QA)

To calculate Elizabeths annual pensionwe need to follow these steps Identify the best three consecut... View the full answer