What is the maximum benefit Alicia can receive

Reference no: EM132737872

Question - Alicia has been working for JMM Corp. for 33 years. Alicia participates in JMM's defined benefit plan. Under the plan, for every year of service for JMM, she is to receive 2 percent of the average salary of her three highest consecutive calendar years of compensation from JMM. She retired on January 1, 2020. Before retirement, her annual salary was $609,000, $639,000, and $669,000 for 2017, 2018, and 2019. What is the maximum benefit Alicia can receive in 2020?

Reference no: EM132737872

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