How much would his expected average salary

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Reference no: EM131553507

An employee who has worked for his firm for 30 years can retire right now and receive a constant annual benefit of $45,000. He has a final pay plan that pays his average salary over his final five years times 2 percent times years of service. He has decided he will keep working five more years but only if by doing so his retirement benefits will grow at 6 percent per year. How much would his expected average salary (to the nearest dollar) have to be over the next five years to keep him working? $51,617 $86,029 $54,198 $66,911 $53,147.

Reference no: EM131553507

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