When Jack joined ABC inc at the age of 28, he also joined their defined benefit pension plan.

The plan has a normal retirement age of 60 and a qualifying factor of 85.

Jack wants to know the earliest age he can retire and take an unreduced pension.

What is the earliest age he can take an unreduced pension?

Jon works for a ABC inc, a company that has a defined benefit pension plan for their employees. Jon earns a salary of $148,400 per year.

The pension plan has a benefit of 2% per year of service and requires employee contributions of 6% of pensionable earnings. For 2022, the pension limit is $3,420.00

For his service in 2022, what benefit has Jon earned for each year during retirement?

Answer rating: 100% (QA)

To determine the earliest age Jack can retire and take an unreduced pension we can use th... View the full answer