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BridgeportCompany provides the following information about its defined benefit pension plan for the year 2020. Service cost $90,300 Contribution to the plan 106,800 Prior service
BridgeportCompany provides the following information about its defined benefit pension plan for the year 2020.
Service cost $90,300
Contribution to the plan 106,800
Prior service cost amortization 9,600
Actual and expected return on plan assets 63,800
Benefits paid 39,700
Plan assets at January 1, 2020 629,900
Projected benefit obligation at January 1, 2020 706,100
Accumulated OCI (PSC) at January 1, 2020 150,800
Interest/discount (settlement) rate 10%
Compute the pension expense for the year 2020.
Pension expense for 2020: $_______________
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