Maria has a defined benefit retirement plan with her employer. She has worked for the company for 28 years and is planning to retire. Her average ending salary is $85,000. Her company uses a factor of 0.018 for determining the annual benefits of the retirement plan. How much of an annual retirement benefit should Maria expect to receive from her company when she retires? A. $15,300/year B. $28,333/year C. $42,840/year D. $95,000/year
Maria has a defined benefit retirement plan with her employer. She has worked for the company for 28 years and is planning to retire. Her average ending salary is $85,000. Her company uses a factor of 0.018 for determining the annual benefits of the retirement plan. How much of an annual retirement benefit should Maria expect to receive from her company when she retires? A. $15,300/year B. $28,333/year C. $42,840/year D. $95,000/year
Chapter9: Deduct Ions: Employee And Self-employed - Related Expenses
Section: Chapter Questions
Problem 38P
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Transcribed Image Text:Maria has a defined benefit retirement plan with her employer. She has
worked for the company for 28 years and is planning to retire. Her average
ending salary is $85,000. Her company uses a factor of 0.018 for determining
the annual benefits of the retirement plan. How much of an annual
retirement benefit should Maria expect to receive from her company when
she retires?
A. $15,300/year
B. $28,333/year
C. $42,840/year
D. $95,000/year
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