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Explain flat benefit formula and unit benefit formula

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Reference no: EM133109104

Describe the difference between the flat benefit formula and the unit benefit formula. In your view, what problem(s) can the unit benefit formula solve?

Let's assume Hannah retires at age 61, with 35 years of service and a final average salary of $55000. Based on Exhibit 4.3 (p.101), what is Hannah's annual benefit?

Reference no: EM133109104

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