Business, 25.02.2020 19:50 hanjonez

Pam retires after 28 years of service with her employer. She is 66 years old and has contributed $89,250 to her employer's qualified pension fund. She elects to receive her retirement benefits as an annuity of $8,925 per month for the remainder of her life. a. Assume that Pam retires in June 2016 and collects six annuity payments this year. What is her income from the annuity payments in the first year?b. Assume that Pam lives 25 years after retiring. What is her income from the annuity payments in the twenty-fourth year?c. Assume that Pam dies after collecting 160 payments. She collected eight payments in the year of her death. What are Pam's income and deductions from the annuity contract in the year of her death?Income from the annuity payments: $XLoss deduction: $XOrdinary Life Annuities: One Life—Expected Return Multiples: Age 66 = Multiple 19.2Number of Anticipated Monthly Annuity Payments under the Simplified Method: Age 66-70 = Number of Anticipated Monthly Payments 210

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Pam retires after 28 years of service with her employer. She is 66 years old and has contributed $89...

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