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:

Cognitively

Relating to the mental process of acquiring knowledge and understanding through thought, experiences, and the senses.

Complicated Bereavement

A prolonged and intense period of mourning that disrupts normal functioning and may require professional help to resolve.

Cognitions

Refers to the mental actions or processes involved in acquiring knowledge and understanding through thought, experience, and the senses.

Negative

Pertaining to a lack or absence; often denotes something detrimental, undesirable, or expressing refusal.