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1) What is the value of the companys defined benefit pension liability, plan assets, and funded status for the last three years? 2) Estimate the
1) What is the value of the companys defined benefit pension liability, plan assets, and funded status for the last three years?
2) Estimate the discount rate for each year
| Pension | ||||
| At Decemeber 31 | 2021 | 2020 | 2019 | |
| Change in Benefit Obligations | ||||
| Beginning of year | $22,236 | 21,248 | $19,567 | |
| Service cost | 282 | 305 | 247 | |
| Interest cost | 394 | 505 | 695 | |
| Plan amendments | ||||
| Actuarial (gain) loss, net | -605 | 2308 | 2860 | |
| Benefits paid | -816 | -842 | -1248 | |
| Curtailment and termination benefits | 6 | - | - | |
| Settlements paid | -1330 | -1288 | -873 | |
| End of year | 20,167 | 22,236 | 21,248 | |
| Change in Plan Assets | ||||
| Beginning of year | 20,128 | 19451 | 17,816 | |
| Actual return on plan assets | 2,049 | 2750 | 3385 | |
| Company contributions | 56 | 57 | 371 | |
| Benefits paid | -816 | -842 | -1,248 |
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Managerial Accounting
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
5th Edition
1264467206, 978-1264467204
