Bob is 48 and has been a member of his company pension for seven years. His pension plan formula is based on 2% per year of service and his best average three years base salary if he works until age 65, and will be reduced by 3% for each year that he retires before age 65. Bob's best three years average base salary is $75,000 and he wants to retire early. Indicate the amount of annual pension he can expect if he retires at age 59. Input your answer, number only, to the nearest dollar.

Answer rating: 100% (QA)

Average base salary Bobs best three years average base salary ... View the full answer