Dean Has Earned $70,000 Annually for the Past 4½ Years

question 43

Multiple Choice

Dean has earned $70,000 annually for the past 4½ years working as an architect for MWC. Under MWC's defined benefit plan (which uses a 5-year cliff vesting schedule) employees earn a benefit equal to 3.5% of the average of their three highest annual salaries for every full year of service with MWC. What is Dean's vested benefit (or annual benefit he has earned so far) ?

• A) $12,250.
• B) $42,000.
• C) $7,350.
• D) $0.

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Definitions:

Reciprocal

Involving a mutual exchange or relationship where both or all parties give and receive something of similar value.

Causality

The relationship between causes and effects, where one event (the cause) directly leads to the occurrence of another event (the effect).

Learning Theory Approach

An educational perspective focusing on how students acquire, process, and retain knowledge and skills through various theories and practices.

Interactionist Approach

A theory that explains how individuals and the society they live in shape each other through mutual interaction.