44 Teresa is a member of a contributory, best-earnings, defined benefit pension plan. The basic...
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44 Teresa is a member of a contributory, best-earnings, defined benefit pension plan. The basic employee contribution rates for this plan are 6% for earnings up to the year's maximum pensionable earnings (YMPE) and 7.5% for earnings above the YMPE. If Teresa earned $58,000 and the YMPE IS $57,400, how much is Teresa required to contribute to her pension plan this year? a) $3,315 b) $3,489 c) $3,523.50 d) $4,350
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