Question

A certain company retirement plan has a rule of 70 provision that allows an employee to retire when the employee's age plus years of employment with the company total at least 70. in what year could a female employee hired in 1986 on her 32nd birthday first be eligible to retire under this provision?

Answer 1

As per your question, employee was 32 years old when hired. There is a gap of 38 years (70-32) between retirement age when hired. If we divide it by 2 then, its 19 years. That employee can retirement after working in that company after hiring when her working and age both going to 70. From the year, he can take voluntary retirement is 2005 (1986+19). As her age and working year would be counted as two every year.