Question: Simone participates in ABC Inc's defined benefit pension plan, which she joined 8 years ago. The plan provides benefits of 2% for each year

Simone participates in ABC Inc's defined benefit pension plan, which she joined

Simone participates in ABC Inc's defined benefit pension plan, which she joined 8 years ago. The plan provides benefits of 2% for each year of service, based on the member's best 3 consecutive years of pensionable earnings. Simone's best three consecutive years of earnings were the most recent three, with annual pensionable earnings of $43,000, $48,000, and $51,000. If Simone has eight years of service, calculate the amount of her annual pension benefit accrued to date.

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