Joe nautilus has $210,000 and wants to retire. what approximate return must his money earn so he may receive annual benefits of $30,000 for the next 10 years is about 7.
A retirement benefit that is paid out annually in the form of a straight life annuity is referred to as an annual benefit. An annual summary of your pension savings can be found on your benefit statement. It informs you of your current savings and their potential future value. The term "Annual Benefit Amount" refers to the dollar amount of a Participant's Annual Benefit, which, subject to the other provisions of this Plan, shall be a dollar amount equal to 10% of the excess (if any) of (a) the Participant's Compensation over (b) the maximum dollar amount of Annual Compensation that may be taken into account for purposes of determining a Participant's Benefit under a Qualified Retirement Plan as defined under Section 401(a)(17) of the
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