Question
The following information relates to the pension plan for the employees of a company: 1/1/20 (beg. of yr) 12/31/20 (end. of yr) Projected benefit obligation
The following information relates to the pension plan for the employees of a company:
1/1/20 (beg. of yr) 12/31/20 (end. of yr)
Projected benefit obligation $4,510,000 $6,630,000
Fair value of plan assets 7,200,000 9,120,000
Accumulated OCI 943,000Cr. 914,000Cr.
Settlement rate (for year) 11%
Expected rate of return (for year) 7%
The company estimates that the average remaining service life is 16 years. The amount of accumulated OCI amortized in 2020 is ____________. Please do not round your answer.
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Entrepreneurship
Authors: Andrew Zacharakis, William D Bygrave
5th Edition
9781119563099
