Linda Berstler Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about
Question:
Linda Berstler Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan.
The average remaining service life per employee is 20 years. The average time to vesting past service costs is 10 years.
Instructions
(a) Compute the actual return on the plan assets in 2012.
(b) Compute the amount of the unrecognized net gain or loss as of December 31, 2012. (Assume the January 1, 2012, balance was zero.)
Transcribed Image Text:
January 1, 2012 December 31, 2012 Vested benefit obligation Defined benefit obligation Plan assets (fair value) Discount rate and expected rate of return Pension asset/liability Unrecognized past service cost Service cost for the year 2012 Contributions (funding in 2012) Benefits paid in 2012 $1,900 $1,500 2,800 1,700 3,645 2,620 10% -0- 1,100 400 800 200
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a Actual Return Ending Beginning Contributions Benefits Fair value of plan assets December 31 2012 2...View the full answer
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