You Are a Member of a Defined-Benefit Plan That Pays

question 96

Multiple Choice

You are a member of a defined-benefit plan that pays a two percent benefit for each year of service based on your best five year's earnings. If you qualify for an unreduced pension and have worked for the company for 30 years, your pension will be

• A)The answer is unknown because the benefit must be calculated by an actuary.
• B)60 percent of the average of your best five years' earnings.
• C)50 percent of the average of your best five years' earnings.
• D)60 percent of the average of your last five years' earnings.

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Definitions:

Buffer

Set of chemicals that can keep the pH of a solution stable by alternately donating and accepting ions that contribute to pH.

Solute

A substance dissolved in another substance, typically the component of a solution present in the lesser amount.

Double Covalent

A type of chemical bond where two pairs of electrons are shared between atoms, forming a stable molecule.

Single Covalent

A type of chemical bond where two atoms share one pair of electrons.