Question
The following information relates to the pension plan for the employees of Cullumber Co.: 1/1/17 12/31/17 12/31/18 Accum. benefit obligation $10440000 $10860000 $13800000 Projected benefit
The following information relates to the pension plan for the employees of Cullumber Co.:
1/1/17 12/31/17 12/31/18
Accum. benefit obligation $10440000 $10860000 $13800000
Projected benefit obligation 10965000 11658000 15207000
Fair value of plan assets 10125000 12120000 13254000
AOCI - net (gain) or loss -0- (1702000) (1800000)
Settlement rate (for year) 10% 10%
Expected rate of return (for year) 7% 6%
Cullumber estimates that the average remaining service life is 16 years. Cullumber's contribution was $1443000 in 2018 and benefits paid were $1107000.
The amount of AOCI (net gain) amortized in 2018 is
$30625.
$36750.
$11331.
$17456.
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