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Calculate Heather maximum allowable benefits

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Reference no: EM132673243

Problem - Heather has been an active participant in a defined benefit plan for 19 years. During her last 6 years of employment, Heather earned $42,000, $48,000, $56,000, $80,000, $89,000, and $108,000, respectively (representing her highest-income years).

a. Calculate Heather's maximum allowable benefits from her qualified plan (assume that there are fewer than 100 participants).

b. Assume that Heather's average compensation for her three highest years is $199,700. Calculate her maximum allowable benefits.

Reference no: EM132673243

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