Dianna Participates in a Defined Benefit Plan That Uses a Fixed

question 76

Multiple Choice

Dianna participates in a defined benefit plan that uses a fixed formula providing an employee with a benefit of 2% for each year of service,up to a maximum of 30 years.The total percentage accumulated before retirement is applied to the average of her three highest years of salary.Dianna works for 21 years,and the average of her three highest years of salary is $290,000.Calculate the amount of retirement benefits she will receive each year.

• A) $0.
• B) $102,800.
• C) $110,000.
• D) $250,000.
• E) None of the above.

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Definitions:

Bilingual Province

A region within a country that officially recognizes and supports the use of two languages for government, education, and public communication.

New Brunswick

A province in eastern Canada known for its maritime landscapes, Acadian culture, and as one of the country's three Maritime provinces.

Common Law

A legal system based on precedents and judicial decisions rather than codified statutes.

Damages

Financial compensation awarded by a court to indemnify losses suffered by a plaintiff as a result of another's actions.