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The following data are for the pension plan for the employees of Oriole Company. 1/1/17 12/31/17 12/31/18 Accumulated benefit obligation $ 4100000 $ 4300000 $
The following data are for the pension plan for the employees of Oriole Company.
1/1/17 | 12/31/17 | 12/31/18 | ||||||||||
Accumulated benefit obligation | $ | 4100000 | $ | 4300000 | $ | 5900000 | ||||||
Projected benefit obligation | 4500000 | 4700000 | 6500000 | |||||||||
Plan assets (at fair value) | 3700000 | 5100000 | 5700000 | |||||||||
AOCL net loss | 0 | 879000 | 910000 | |||||||||
Settlement rate (for year) | 11% | 10% | ||||||||||
Expected rate of return (for year) | 9% | 6% |
Orioles contribution was $750000 in 2018 and benefits paid were $660000. Oriole estimates that the average remaining service life is 15 years. Assume that the actual return on plan assets in 2018 was $440000. The unexpected gain on plan assets in 2018 was
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