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  #181  
Old Today, 10:25 AM
Chappy Chappy is online now
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Okay, I did a TUC problem where the pension formula was based on a 3 year avg. Instead of taking a 3 year avg of [S(k-3) + S(k-2) + S(k-1)]/3, they used S(k-1). This was a TIA problem and just wanted to make sure that 99% of the time we will be expected to take the avg described above and not just the most recent salary.
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  #182  
Old Today, 10:37 AM
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James Washer / Notes Contributor
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You have to read the problem very carefully. It was probably a final salary plan. You use the final salary instead of taking an average.
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  #183  
Old Today, 10:38 AM
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If you post the problem number then I’ll double check. It wouldn’t be the first time I made a mistake. ��
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