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Crane Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan. January 1, December 31, 2020 2020
Crane Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan. January 1, December 31, 2020 2020 Vested benefit obligation $1,400 $2,080 Accumulated benefit obligation 2,080 2,970 Projected benefit obligation 2,420 3,550 Plan assets (fair value) 1.610 2,520 Settlement rate and expected rate of return 10 % Pension asset/liability 810 ? Service cost for the year 2020 410 Contributions (funding in 2020) 650 Benefits paid in 202- 190 (a) Compute the actual return on the plan assets in 2020. Actual return on the plan assets $
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