Projected annual benefit under a final-average-salary plan

Projects the annual benefit using a final-average-salary formula.

Usage

PAB_fas(x, z, CASx, p, fas_years = 3, past_service = 0, g = NULL, s = NULL)

Arguments

x

Scalar current or entry age.

z

Scalar retirement age.

CASx

Positive scalar current annual salary.

p

Nonnegative scalar accrual percentage, such as 2 for 2 percent.

fas_years

Positive integer number of years in the final salary average.

past_service

Nonnegative scalar years of service already completed.

g

Optional scalar annual salary growth rate greater than -1.

s

Optional positive salary-scale vector of length z - x.

Value

A numeric scalar.

Examples

PAB_fas(
  x = 35,
  z = 65,
  CASx = 60000,
  p = 2,
  fas_years = 3,
  g = 0.04
)
#> [1] 108008.7