Lillian Has a Defined Benefit Plan That Promises an Annual

Lillian has a defined benefit plan that promises an annual retirement benefit based on 2 percent of her final 3-year average annual salary for each year of service.At retirement Lillian has 15 years of service and an average salary over the last 3 years of $65,000.What will her annual benefit be?

A) $65,000
B) $50,500
C) $35,400
D) $19,500
E) cannot determine

Correct Answer:

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