1. At the end of 2021, Sam is retiring after 30 years of participation in his...

 

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1. At the end of 2021, Sam is retiring after 30 years of participation in his employer's pension plan. The pension plan provides a benefit based on 1.8% of his best earnings over four consecutive years. Given the following earnings history, calculate Sam's annual pension. YEAR 2016 2017 2018 2019 2020 2021 AMOUNT $60,000 $65,000 $70,000 $75,000 $71,000 $60,000 1. At the end of 2021, Sam is retiring after 30 years of participation in his employer's pension plan. The pension plan provides a benefit based on 1.8% of his best earnings over four consecutive years. Given the following earnings history, calculate Sam's annual pension. YEAR 2016 2017 2018 2019 2020 2021 AMOUNT $60,000 $65,000 $70,000 $75,000 $71,000 $60,000

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To calculate Sams annual pension we need to determine his averag... View the full answer