The ABC corporation pension plan provides a lifetime annual income to its employees upon retirement at age 65. The plan provides 4% for each year of service of the average of the employee's earnings for their last 2 years on the job.  Mark retires at age 65 with 16 years of service. His earnings for his last 2 years were $56,823 and $57,230. 

What is his annual pension benefit?

Answer rating: 100% (QA)

Annual Pension Benefit Average Earnings Years of Ser... View the full answer