Cindy Who Lou retires from working at the Christmas Light Cannon Company after30years. She elects to receive
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Question:
Cindy Who Lou retires from working at the Christmas Light Cannon Company after 30 years. She elects to receive her pension benefit of $7,000 per month as a Level Payout for Life of Employee and Spouse. She is outlived by her husband Donny Who Lou. Which of the following is correct regarding the pension plan benefit?
Group of answer choices
Donny will continue to receive the pension benefit until he dies.
Donny Who Lou is out of luck. The payments stop when his wife dies.
The payments will continue for five more years, whether Donny is still alive or not.
The payments revert to Growing Payout, Life of the Employee after Cindy dies.
Related Book For
Fundamentals of Investing
ISBN: 978-0133075359
12th edition
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
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