Calculate the maximum retirement benefit that a plan can provide in the current year for a defined benefit plan given the highest 3 years salaries for Edward. Ed willl have more than 10 years of service with the same employer at retirement. He is 45 years old and expects raises to average $8,000 per year until retirement.

Highest Salaries

Year1 $90,000

Year2 $100,000

Year3 $110,000

a) $90,000

b) $100,000

c) $108,000

d) $110,000