The following pension information was provided to you with respect to a company that adopted the provisions of IAS 19 and assumes that all benefits will fully be taken upon retirement. The following balances relate to this plan on January 1, 2021:

Plan assets		$2,746,000
Defined post-retirement benefit obligation		$3,661,000
Past service costs of new members		$25,000

As a result of the plan's operation during 2020, the following additional data were provided by the actuary.

• The service cost for 2021 was $402,100.
• The discount rate was 7%.
• Funding payments in 2021 were $214,000.
• The actual return on plan assets was $124,600.
• The benefits paid on behalf of retirees from the plan were $153,200.

All retirement benefits are held in trust and will be paid out to the retirees based on the returns of the plan in the future. There are other optional benefits that can be taken as well extended life insurance, long-term disability and extended health insurance but these are at the employees discretion.

1. Calculate the post-retirement benefit expense for 2020.

2. Prepare a continuity schedule for the defined post-retirement benefit obligation and for the plan assets from the beginning of the year to the end of 2020.

3. At December 31, 2020, prepare a schedule reconciling the plan's surplus or deficit with the post-retirement amount reported on the SFP.

4. If SSS had remained with ASPE instead of moving to IFRS, how would your answers to parts 1 to 3 change?

5. What type of plan is the above and what other types of plans could be considered.