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Your client began employment with their company in January of 2017, at age 59. Their company sponsors a 401(k) plan, as well as a noncontributory defined benefit plan that provides for a straight life annuity beginning at age 65, based on the average of a participant's high 3 years of compensation. The company uses the calendar year for the plan year. Your client became eligible to participate in January of 2018, and is planning to retire in January 2023, at age 65. The client's high-3 years of compensation was $194,000. What is the most that could be paid to your client from the defined benefit plan? a. $97,000 b. $116,400 c. $194,000 d. None of the above A

Your client began employment with their company in January of 2017, at age 59. Their company sponsors a 401(K) plan, as well as a noncontributory defined benefit plan that provides for a straight life annuity beginning at age 65 , based on the average of a participant's high 3 years of compensation. The company uses the calendar year for the plan year. Your client became eligible to participate in January of 2018 , and is planning to retire in January 2023 , at age 65 . The client's high-3 years of compensation was $194,000. What is the most that could be paid to your client from the defined benefit plan? a. $97,000 b. $116,400 c. $194,000 d. None of the above

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