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What is lris pension adjustment

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Reference no: EM133108142

Question - In 2018, iris and her employer each contributed $4,000 to her DBPP which will pay her a pension of 1.5% for every year of service based on the three years of income. Her salary for 2018 was $72,000 and the three best years average $71,000.

Required -

a. What is lris's pension adjustment for 2018? Calculate the benefit earned using all 3 methods described in class. SHOW ALL YOUR WORK.

b. How much can she contribute to her RRSP in 2019?

c. If she began collecting her pension in 2019, how much would it be if she had 33 years of service?

Reference no: EM133108142

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