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Fab Five Industries offers a Define Benefit Pension Plan to its employees. The plan provides a benefit of 2.0% per year of service for the first 10 years of service. The plan provides a benefit of 2.5% per year of service for years 11 through 20. The plan provides a benefit of 3.0% per year of service in excess of 20 years. Fab Five Industries calculates the benefit based upon the employee's 3 high consecutive years of compensation Juwan is the head engineer at Fab Five and has the following earnings (his 3 highest year) of $250,500 in 2016, $270,000 in 2017 and $280,000 in 2018. The Covered Compensation Limits for 2016, 2017 and 2018 are $265,000, 270,000 and $275,000 respectively. a) What would Juwan's pension benefits be if he works for Fab Five Industries for 7 years? b) What would Juwan's pension benefits be if he works for Fab Five Industries for 18 years? c) What would Juwan's pension benefits be if he works for Fab Five Industries for 30 years? Fab Five Industries offers a Define Benefit Pension Plan to its employees. The plan provides a benefit of 2.0% per year of service for the first 10 years of service. The plan provides a benefit of 2.5% per year of service for years 11 through 20. The plan provides a benefit of 3.0% per year of service in excess of 20 years. Fab Five Industries calculates the benefit based upon the employee's 3 high consecutive years of compensation Juwan is the head engineer at Fab Five and has the following earnings (his 3 highest year) of $250,500 in 2016, $270,000 in 2017 and $280,000 in 2018. The Covered Compensation Limits for 2016, 2017 and 2018 are $265,000, 270,000 and $275,000 respectively. a) What would Juwan's pension benefits be if he works for Fab Five Industries for 7 years? b) What would Juwan's pension benefits be if he works for Fab Five Industries for 18 years? c) What would Juwan's pension benefits be if he works for Fab Five Industries for 30 years

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