An employee has an average wage of $60,000 and has worked for the firm for 28 years.

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An employee has an average wage of $60,000 and has worked for the firm for 28 years. The defined benefit pension plan pays retirees 2.3%. The average wage times the years of service.

How much can this employee expect to receive per year upon retirement?

Related Book For answer-question

Intermediate Accounting Reporting and Analysis

ISBN: 978-1337788281

3rd edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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Posted Date: Jul 14, 2023 12:29 AM

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An employee has an average wage of $60,000 and has worked for the firm for 28 years.

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To calculate the annual pension benefit for this employee we need to multiply the average ... View the full answer

Intermediate Accounting Reporting and Analysis

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