Question
The funded status of a company's defined benefit pension plan are provided below. ($ in thousands) 2021 Beginning Balances 2021 Ending Balances Projected benefit obligation
The funded status of a company's defined benefit pension plan are provided below.
| ($ in thousands) | 2021 Beginning Balances | 2021 Ending Balances |
| Projected benefit obligation | $3,800 | $4,100 |
| Plan assets | ??? | 4,241 |
| Funded status | Net asset of $100 | ??? |
| Additional information: Benefits paid, $255 Actual return on plan assets, $336 Discount (interest) rate, 5% | ||
There were no changes in actuarial estimates and assumptions regarding the PBO. Required: 1. Determine the beginning plan assets balance. 2. Determine service cost for 2021. 3. Determine employer contributions to the pension fund for 2021. 4. Determine the funded status at the end of 2021.
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
978-0538453257
