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The following data are for the pension plan for the employees of Crane Company. 1/1/20 12/31/20 12/31/21 Accumulated benefit obligation $ 4900000 $ 5100000 $
The following data are for the pension plan for the employees of Crane Company.
1/1/20 | 12/31/20 | 12/31/21 | ||||||||||
Accumulated benefit obligation | $ | 4900000 | $ | 5100000 | $ | 6700000 | ||||||
Projected benefit obligation | 5300000 | 5500000 | 7300000 | |||||||||
Plan assets (at fair value) | 4500000 | 5900000 | 6500000 | |||||||||
AOCL net loss | 0 | 951000 | 990000 | |||||||||
Settlement rate (for year) | 9% | 10% | ||||||||||
Expected rate of return (for year) | 7% | 7% |
Cranes contribution was $830000 in 2021 and benefits paid were $740000. Crane estimates that the average remaining service life is 10 years. The corridor for 2021 was $590000. The amount of AOCI-net loss amortized in 2021 was
$36100.
$99000.
$95100.
$42100.
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