QUESTION 6 Lisa is enrolled in a defined benefit plan. She has worked 6 years for the plan. Her salaries were $25,000, $30,000, $35,000, $40,000, $45,000, and $50,000. The defined benefit plan allows for a benefit of 3% for every year of service of their average salary for their three highest years. The company uses a 7-year vesting schedule. What annual benefit has Lisa vested? (also known as her taxable benefit) O $3,240 O $1,080 O $6,480 O $540
QUESTION 6 Lisa is enrolled in a defined benefit plan. She has worked 6 years for the plan. Her salaries were $25,000, $30,000, $35,000, $40,000, $45,000, and $50,000. The defined benefit plan allows for a benefit of 3% for every year of service of their average salary for their three highest years. The company uses a 7-year vesting schedule. What annual benefit has Lisa vested? (also known as her taxable benefit) O $3,240 O $1,080 O $6,480 O $540
Chapter19: Deferred Compensation
Section: Chapter Questions
Problem 33P
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![QUESTION 6
Lisa is enrolled in a defined benefit plan. She has worked 6 years for the plan. Her salaries were $25,000, $30,000, $35,000, $40,000, $45,000, and $50,000. The defined benefit
plan allows for a benefit of 3% for every year of service of their average salary for their three highest years. The company uses a 7-year vesting schedule. What annual benefit
has Lisa vested? (also known as her taxable benefit)
O $3,240
O $1,080
O $6,480
O $540](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F456c9b8b-2fe4-4bdc-86b1-69ea45323fc4%2F63ff8dad-5d25-48b6-93fc-106d36c0606e%2Fiqtujz_processed.png&w=3840&q=75)
Transcribed Image Text:QUESTION 6
Lisa is enrolled in a defined benefit plan. She has worked 6 years for the plan. Her salaries were $25,000, $30,000, $35,000, $40,000, $45,000, and $50,000. The defined benefit
plan allows for a benefit of 3% for every year of service of their average salary for their three highest years. The company uses a 7-year vesting schedule. What annual benefit
has Lisa vested? (also known as her taxable benefit)
O $3,240
O $1,080
O $6,480
O $540
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