Hello these questions need to answer please show me how you get the answer step

Question

Hello these questions need to answer please show me how you get the answer step by step

Please send the answer to me as soon today. This is for insurance class

27) Tom’s employer sponsors a defined benefit plan, integrating with social insurance benefit based on excess approach. Upon retirement, tom. who will have 36 years of service at the time , will entitled to an annual retirement benefit equal to 30% of his final average annual compensation average annual compensation is expected to be $70,000. Based on the above information, please answer the following three questions. What is the integration level?

A) $70,000

b) $21,000

c) $ 35,000

d) $18,000

28) What is the base- benefit percentage ?

A) 30%

b) 50%

c) 0.75

d) None of the above

29) What is excess- benefit percentage ?

A) 20%

b) 50%

c)30%

d) 0.75%

Explanation / Answer

1) Integration level will be 21000$ as this the first part and it will be from 0 to 30% I.e 0 to 21000 , then 21000 to 49000 then 49000 to 70000, then only 70000.

2) The base percentage will be 0.75 this will get by multiplying the total age with the average annual compensation and divide it by while amount .

3) Excess benefit percentage will be 20%.

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