As of January 1, 2015, information related to the defined benefit pension plan of Leffingwell…

As of January 1, 2015, information related to the defined benefit pension plan of Leffingwell Company was as follows: PBO . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . $1,615,000 Fair value of pension assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,513,500 Prior service cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105,000 Deferred net pension gain or loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 Pension data for the years 2015 and 2016 are listed as follows: 2015 Pension plan information: Service cost as reported by actuaries . . . . . . . . . . . . . . . . . . . . . . . . . $87,000 Contributions to pension plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $120,000 Benefits paid to retirees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $132,000 Actual return on pension plan assets . . . . . . . . . . . . . . . . . . . . . . . . . $26,350 Amortization of prior service cost . . . . . . . . . . . . . . . . . . . . . . . . . . . $21,000 Actuarial change increasing PBO . . . . . . . . . . . . . . . . . . . . . . . . . . . $80,000 Obligation discount rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . 11% Long-term expected rate of return on pension plan assets . . . . . . . . . . . . 10% 2016 Pension plan information: Service cost as reported by actu

 

Looking for a Similar Assignment? Let us take care of your classwork while you enjoy your free time! All papers are written from scratch and are 100% Original. Try us today! Use Code FREE15