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The following information relates to the pension plan for the employees of Blossom Co.: 1/1/20 12/31/20 12/31/21 Accum. benefit obligation $ 7940000 $ 8360000 $
The following information relates to the pension plan for the employees of Blossom Co.:
1/1/20 | 12/31/20 | 12/31/21 | ||||||||||
Accum. benefit obligation | $ | 7940000 | $ | 8360000 | $ | 11300000 | ||||||
Projected benefit obligation | 8465000 | 9158000 | 12707000 | |||||||||
Fair value of plan assets | 7625000 | 9620000 | 10754000 | |||||||||
AOCI net (gain) or loss | -0- | (1382000 | ) | (1550000 | ) | |||||||
Settlement rate (for year) | 10% | 10% | ||||||||||
Expected rate of return (for year) | 7% | 6% |
Blossom estimates that the average remaining service life is 16 years. Blossom's contribution was $1193000 in 2021 and benefits paid were $857000. The amount of AOCI (net gain) amortized in 2021 is
$36750.
$26250.
$17456.
$6956.
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