Calculate the replacement rate

Reference no: EM1348729

Determine the replacement rate in the following scenarios if an employee is enrolled in a defined benefit plan with the following benefit formula: 2.5% X Years of Service X Final Salary

a. Service = 10 years; final salary $40,000
b. Service = 10 years; final salary $60,000
c. Service = 20 years; final salary $60,000

Reference no: EM1348729

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