What is john total pension rate

Reference no: EM133211446

Assignment:

1. Ali zahir is retiring at age 65. He will receive the following monthly amounts $1,200 from his union pension and $984 from social security. He will also draw $500 a month from a private pension fund he owns. What will be his total annual retirement income?

2. Molly fedman is 66 and receives $911 in monthly pension from her company and $675 monthly from social security. She wants her monthly retirement income to be $2,500 a month. What percent of her $350,000 IRA must Molly withdraw each month to reach the monthly income she wants, to the nearest tenth percent?

3. Troy white is 67 and his monthly retirement income is made up of $1,500 from his employer- based pension fund and &890 from social security. He also has an IRA worth $250,000. What percent of his IRA must Troy withdraw each year if h wants his total retirement income to be $38,400 a year?

4. Gina lopata paid in $64,000 to her pension fund during the 25 years she worked for her company. Gina fund pays $6.50 a month for each $100 of pension funds contributed if she retires at age 65. What will will be the amount of her monthly pension at age 65?

5. John markum pension fund pays 2.3% of his average salary for the last three years for each year that he contributes to the fund. His annual salary for the last three years was $47,800, $48,500, and 49,800. John has contributed to his pension fund for 25 years.

A. What was John average salary for the last three years?

B. What is John total pension rate?

C. If John retires now, what will be his Monthly pension amount be?

6. Magda Rohas has worked for telley, inc for 29 years. She was paid $3,200 a month two years ago, $3,500 a month last year, and is paid $3,900 a month this year. Magda penision fund pays a benefit rate of 2.25% for each year of service to the company and applies this to her average salary for the last three years before retirement.

A. If Magda retires at the end of this year, what will be her average monthly salary for the last three years?

B. What will Magda's total pension rate be.

C. What is the monthly pension amount that Magda will receive?

7. Zuba Nazeer is 78 years old and has an Ira totaling $508.150. What is the amount she must withdraw, as a minimum, from her Ira this year?

8. Tyohara IRA total is $491,200. What is the minimum amount he must withdraw from his IRA this year, if he's 73?

9. Tien kuo celebrated her eighty forth birthday on January 3. She had a total investment in her IRA of $617,800. What is the minimum amount she must withdraw from the investment this year.

10. Wally Brennan works for a state college. Wally's state pension fund reduces the total pension rate he will receive by 1/2% for each year that he retires before the age of 65. If Wally retires at age 58, by what percent will his pension be reduced.

11. Mehta olgivile withdrew $5435 from her IRA when she was 53. What was the amount of penalty she paid?

12. Subina Kruegg took out $10,500 from her IRA when she was 58.

A. What penalty did she pay on the withdrawal?

B. What is the amount she received?

Reference no: EM133211446

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