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Old 05-04-2012, 09:52 PM
PinoyPensionActuary's Avatar
PinoyPensionActuary PinoyPensionActuary is offline
Join Date: Oct 2011
Location: Atlanta
Studying for Studying for EA 2B
College: Georgia State University
Favorite beer: Red Horse
Posts: 24
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


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?
pretending to be SMART is hard work...

good thing, being a SMART @$$ comes natural to me...
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Old 05-04-2012, 10:00 PM
lg3 lg3 is offline
Join Date: Jun 2008
Studying for exam raises
Posts: 134

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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