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Benefit entitlement under the plan

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Sully has now worked for a company for 12 years, the company provides him with a defined benefit pension plan.

The formula that is used by the company to determine his benefit is 1.25% of final year's earning * years if service.

Sully's earnings this year was $62000 and last year it was $59000

Sully received a statement from his employer at the end of the year that he has contributed $4250 to the pension plan and this amount was matched by the employer.

Sully sur benefit entitlement under the plan for this year's work is closest to:

Reference no: EM133003584

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