As a Member of the Company's Defined Benefit Plan, Employees

question 28

Multiple Choice

As a member of the company's defined benefit plan, employees receive a pension based on one percent of the average of their best three years' earnings for each year of service. What will be your annual pension if you retire after 30 years of service and have averaged $50,000 per year during your three best years?

• A) $28,000
• B) $15,000
• C) unable to determine, as we need to have know the average return on the investments funding the pension
• D) depends on how much money is in the investment trust

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Definitions:

Articles of Confederation

The first governing document of the United States, created before the Constitution, which provided a loose federation of the states with limited central government power.

Ratified

The process by which a proposed treaty or agreement is officially approved and adopted by the necessary parties or institutions.

States

Distinct territorial and political entities within a federal system, each with its own government and a degree of autonomy.

Government-less State

A hypothetical or theoretical situation where society operates without a formal government, often associated with anarchism or extreme libertarian views.