The actuarial valuation and accounting for defined benefit pension plans involve a number of different estimates. For each of the following changes in$$ assumptions, identify the likely effect on the amount of pension expense in the current period$($increase$,$ decrease, or no$$ effect$).$ For this$$ question, ignore the requirement to use the same rate for return on assets and interest on obligations.

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Part $1$

Change in assumption

Effect on pension expense

a$.$ Increase expected return on assets

b$.$ Increase life expectancy

c$.$ Increase interest rate on pension obligations

d$.$ Increase age of retirement when employees become eligible for retirement benefits