Thanks for the problem.
Let's retrieve information from the question.
n(total) = 60 years
The interest rate is already effective; i=5%
An increase g=20% from years 50-60
Annual total = ?
Let's set up our notation:
60,000(P/A, 5%, 19) = X (Years 30 through 60 is the retirement stage - I'm finding the present worth (at years 30) of the annual income right before the 20% increase)
60,000((1-(1.2/1.05)^10)/(0.05-0.2))(P/F, 5%, 20) = Y (calculating the present worth of the 20% increase 10 year span then converting that value to year 30)
X + Y = Z (adding both values at year 30 together)
Z(P/F, 5%, 30)(A/P, 5%, 30) (Now converting the new value at year 30 to year 0 then finding the annual worth over tge 30 year contribution period of the monetary amount)
Let's evaluate:
60,000(12.0853) = $725,118.00
60,000((1-(1.2/1.05)^10)/(0.05-0.2))(0.3769) = $422,307.26
$725,118.00 + $422,307.26 = $1,147,425.26
$1,147,425.26(0.2314)(0.06505) = $17,271.69