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Old 05-04-2012, 09:52 PM
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PinoyPensionActuary PinoyPensionActuary is offline
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Default EA 2B 2011 #38

just want to ask if i did this right since somehow someway i have difficulties with the PBGC Guaranteed Benefits...

i did choose the right answer which is C or $3,500 but less than $3,600

$100 x 32 = $3,200
$140 x 32 = $4,480

amount to be phased-in: $1,200

so, $3,200 + min of [ $1,200 or max of ( $20 x 3 or $1,200 x 60% ) ] = $3,968

or

min of ( $4,500 or $4,480 ) x 0.79 (adjustment for retiring at age 62) = $3,539

so, i chose $3,539 which is C or it's just a coincidence?
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Old 05-04-2012, 10:00 PM
lg3 lg3 is offline
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looking at my notes, the PBGC MGB is actually $4,400 per month (5-year final average pay) as an age-65 single life annuity. you then reduce that to age 63, not 62, since he's age 63 at the date of plan termination. so the final max is 3,784 per month. luckily your errors canceled each other out
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Old 05-04-2012, 10:01 PM
lg3 lg3 is offline
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my final answer is $3,550.40
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