FA Retirement and Unemployment Benefits

Liz works at Food For Thought magazine. Her employer offers her a pension. Liz’s employer uses a formula to calculate the pension. Retiring employees receive 2.1% of their average salary over the last four years of employment for every year worked. Liz is planning on retiring at the end of this year after, 20 years of employment. Her salaries for the last four years are $66,000; $66,000; $73,000; and $75,000. Calculate Liz’s annual pension.

• $25,000

• $29,400

• $20,500

• $22,500

As part of their employee benefits, all workers at Light and Power Electric Company receive a pension that is calculated by multiplying the number of years worked times 1.875% of the average of their three highest years’ salaries. Mia has worked for LPEC for 30 years and is retiring. Her highest salaries were $92,000, $94,800, and $96,250. Calculate Mia’s pension.

• $53,071.88

• $55,678.90

• $54,765.10

• $47,450

In Ben’s state, the weekly unemployment compensation is 55% of the 26-week average for the two highest-salaried quarters. A quarter is three consecutive months. For July, August, and September, Ben earned a total of $22,400. In October, November, and December, he earned a total of $22,800. Determine Ben’s weekly unemployment compensation.

• $1738.46

• $975.20

• $1178

• $956.15

Carol's weekly unemployment compensation is 45% percent of the 26-week average for the two highest salaried quarters. For January, February, and March, Carol earned $12,450. In April, May, and June, she earned $11,550. Calculate Carol’s weekly unemployment compensation.

• $415.38

• $923.08

• $1200

• $567.80

Eddie is a plant manager at North Salem Construction Company. He has been employed there for 25 years and will be retiring at the end of this year. His pension is calculated on the average of his last four years’ salaries. In those years, he earned $82,000, $96,000, $105,000,

and $109,000. His employer will give him 1.4% of that average for each year he worked. Calculate Eddie’s pension.

• $37,900

• $35,600

• $33,720

• $34,300

As part of their employee benefits, all workers at Middletown Electronics receive a pension that is calculated by multiplying the number of years worked times 1.6% of the average of their three highest years’ salary. Maureen has worked for Middletown for 30 years and is retiring. Her highest salaries are $97,000, $97,800, and $98,198. Calculate Maureen’s pension.

• $45,765.90

• $46,879.68

• $48,999.20

• $44,322.15

In Rodger’s state, unemployment compensation is calculated by finding the total of the quarterly wages of two consecutive quarters and dividing by 26. The weekly unemployment is 55% of that amount. In the quarter of January, February, and March, Rodger made a total of $13,950.80. In the quarter of April, May, and June, he made a total of $14,250.10. Find Rodger’s weekly unemployment amount.

• $555.55

• $595.67

• $596.56

• $582.30

Nate's weekly unemployment compensation is 65% percent of the 26-week average for the two highest salaried quarters. For July, August, and September, Nate earned $9,450. In October, November, and December, he earned $12,500. Calculate Nate’s weekly unemployment compensation.

• $555.65

• $548.75

• $534.35

• $582.15

As part of their employee benefits, all workers at Walgreen's Company receive a pension that is calculated by multiplying the number of years worked times 2.5% of the average of their three highest years’ salaries. Chloe has worked for Walgreen's for 20 years and is retiring. Her highest salaries were $55,000, $56,800, and $58,250. Calculate Chloe’s pension.

• $29,450.32

• $27,892.18

• $28,341.67

• $25,455.68

Amy's weekly unemployment compensation is 35% percent of the 26-week average for the two highest salaried quarters. For January, February, and March, Amy earned $19,450. In April, May, and June, she earned $22,500. Calculate Amy’s weekly unemployment compensation.

• $564.71

• $582.12

• $511.35

• $584.98