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How much will Fred be permitted to transfer to a locked

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Question - Fred has been a member of a defined contribution pension plan for the past 10 years, and both he and his employer each contributed $4,000 each year. The balance for Fred's DCPP is already $123,470 and he intends to retire in 5 years. If the contributions remain the same until he retires and he earns a nominal rate of return of 6.89% compounded annually, how much will Fred be permitted to transfer to a locked in retirement account at retirement?

Reference no: EM133118886

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