Pascal Leclerc is a member of a defined benefit integrated pension plan with the following formula:
·        1% of the average best 5 years of earnings up to the 3 year average of the year's maximum pensionable earnings (YMPE) plus
·        3% of the average best 5 years of earnings that are above the 3 year average of the YMPE
Pascal’s earnings were$64,825.00; the YMPE is $61,600

Calculate the pension adjustment for Pascal, assuming that he worked and was a member of the pension plan for the full calendar year.

Answer rating: 100% (QA)

Solution 2 average of 53yrs 3 average above ... View the full answer