Calculate the pension adjustment for pascal

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Reference no: EM132808240

Problem 1: Frieda has semi-monthly vacationable earnings of $1,480.00 and her vacation pay rate is 4%. What amount will be accrued to vacation pay payable for the month of October?

Pascal Leclerc is a member of a defined benefit integrated pension plan with the following formula:

1% of the average best 5 years of earnings up to the 3 year average of the year's maximum pensionable earnings (YMPE) plus
3% of the average best 5 years of earnings that are above the 3 year average of the YMPE
Pascal's earnings were $69,925.00; the YMPE is $58,700.00.

Problem 2: Calculate the pension adjustment for Pascal, assuming that he worked and was a member of the pension plan for the full calendar year.

Reference no: EM132808240

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