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Culver Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2021, the following balances related to this plan. Plan assets (market-related
Culver Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2021, the following balances related to this plan.
Plan assets (market-related value) | $274,200 | ||
Projected benefit obligation | 334,100 | ||
Pension asset/liability | 59,900 | Cr. | |
Prior service cost | 90,800 | ||
OCILoss | 39,200 |
As a result of the operation of the plan during 2021, the actuary provided the following additional data for 2021.
Service cost | $44,300 | ||
Actual return on plan assets | 26,600 | ||
Amortization of prior service cost | 12,200 | ||
Contributions | 64,100 | ||
Benefits paid retirees | 40,600 | ||
Settlement rate | 7 | % | |
Expected return on plan assets | 8 | % | |
Average remaining service life of active employees | 10 years |
Culver Corp. Income Statement (Partial) $ $ Culver Corp Comprehensive Income Statement $xox
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