Compute javier annual benefit on retirement

Reference no: EM131853011

Question: a. Javier recently graduated and started his career with DNL Inc. DNL provides a defined benefit plan to all employees. According to the terms of the plan, for each full year of service working for the employer, employees receive a benefit of 1.5 percent of their average salary over their highest three years of compensation from the company. Employees may accrue only 30 years of benefit under the plan (45 percent). Javier works for DNL for six years and three months before he leaves for another job. Javier's annual salary was $70,000, $80,000, $90,000, and $95,000 for years 4, 5, 6, and 7 respectively. DNL uses a five-year cliff vesting schedule. Determine Javier's annual benefit on retirement, before taxes.

b. Javier recently graduated and started his career with DNL Inc. DNL provides a defined benefit plan to all employees. According to the terms of the plan, for each full year of service working for the employer, employees receive a benefit of 1.5 percent of their average salary over their highest three years of compensation from the company. Employees may accrue only 30 years of benefit under the plan (45 percent).Javier works for DNL for six years and three months before he leaves for another job. Javier's annual salary was $70,000, $80,000, $90,000, and $95,000 for years 4, 5, 6, and 7 respectively. DNL uses a seven-year graded vesting schedule. Determine Javier's annual benefit on retirement, before taxes.

c. Javier recently graduated and started his career with DNL Inc. DNL provides a defined benefit plan to all employees. According to the terms of the plan, for each full year of service working for the employer, employees receive a benefit of 1.5 percent of their average salary over their highest three years of compensation from the company. Employees may accrue only 30 years of benefit under the plan (45 percent).Javier works for DNL for 32 years and three months before retiring. Javier's annual salary was $170,000, $180,000, and $190,000 for his final three years of employment. Determine Javier's annual benefit on retirement, before taxes.

Reference no: EM131853011

Questions Cloud

Develop a c console application : Develop a C# console application that implements two int arrays. One array will hold 10 randomly generated integer numbers, the second array

Discuss at least four characteristics of a good business : One of most important skills to learn in managerial economics is ability to identify a good business. Discuss at least four characteristics of a good business.

Concerned about securing cloud based system : An organization is concerned about securing their cloud based system and have come across the Common Vulnerabilities and Exposures (CVE) database

How much should you pay for such an investment : A profitable business venture promises to pay investors a monthly cash return of $1,900 for the next seven years. Having studies other investment alternatives.

Compute javier annual benefit on retirement : Javier recently graduated and started his career with DNL Inc. DNL provides a defined benefit plan to all employees. According to the terms of the plan.

Design of a sewage-treatment plant : The optimum design of a sewage-treatment plant involves minimizing the losses from possible over and under design. Altouney [1963] has reviewed 71

Briefly describe simons four phases of decision making : What guidelines can be learned from this vignette about developing DSS?List and briefly describe Simon's four phases of decision making.

Brief marketing plan for the business you wish to start : brief marketing plan for either business you wish to start, or an existing business of your choosing -topics for your plan from Marketing Plan Coach software

What amount of tax and penalty is jimmer pay : Jimmer has contributed $15,000 to his Roth IRA and the balance in the account is $18,000. In the current year, Jimmer withdrew $16,000 from the Roth IRA to pay.

User Account

All Pages