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Howard's has a defined benefit plan that provides employees a benefit of 1% per year of service times the employee's final compensation.

Howard's has a defined benefit plan that provides employees a benefit of 1% per year of service times the employee's final compensation. If Howard earns $300,000 his final year and he's worked for the company for 20 years, what would his annual retirement benefit be?

  • 275000
  • 60000
  • 210000
  • 55000

Top Answer

60000 [the annual retirement benefit... View the full answer

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