Use the Following Information for Questions

question 45

Essay

Use the following information for questions .
Maggie Moo, age 40, begins employment with Farm Corporation on January 1, 2020 at a starting salary of $ 40,000. It is expected that Maggie will work for the company for 25 years, retiring on December 31, 2044, when Maggie is 65 years old. It is expected that her salary at retirement will be $ 140,000. Further assume that mortality tables indicate the life expectancy of someone age 65 in 2044 is 12 years.
Farm Corporation sponsors a defined benefit pension plan with the following formula
Annual pension benefit on retirement = 3% of salary for each year of service, or 3% final salary x years of service.
Assume a discount rate of 6%
-Determine the Defined Benefit Obligation for Maggie Moo at December 31, 2021.
a) $ 8,400
b) $ 17,416.01
c) $ 18,437.07
d) $ 70,415.86

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Definitions:

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The shared belief of a group in its conjoint capabilities to organize and execute the courses of action required to produce given levels of attainment.

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Leaders who inspire enthusiasm, devotion, and strong emotional commitment in their followers through their personal charisma, vision, and communication style.

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Refers to beneficial outcomes or impacts that result from certain actions, policies, or circumstances.

Charismatic Leadership

A leadership style characterized by the leader's ability to inspire and motivate followers through their charm, persuasion, and compelling vision.