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The Kollar Company has a defined benefit pension plan. Pension information concerning the fiscal years 2018 and 2019 a below ($ in millions): are presented
The Kollar Company has a defined benefit pension plan. Pension information concerning the fiscal years 2018 and 2019 a below ($ in millions): are presented Information Provided by Pension Plan Actuary: a. Projected benefit obligation as of December 31, 2017 $4,250. b. Prior service cost from plan amendment on January 2, 2018 $55O (straight-line amortization for 10-year average remaining service period) c. Service cost for 2018 $710 d. Service cost for 2019 $760. e. Discount rate used by actuary on projected benefit obligation for 2018 and 2019 f. Payments to retirees in 2018 $570. g. Payments to retirees in 2019 $640. h. No changes in actuarial assumptions or estimates . Net gain-AOCI on January 1, 2018 $475 j. Net gains and losses are amortized for 10 years in 2018 and 2019. 10 % . Information Provided by Pension Fund Trustee: a. Plan asset balance at fair value on January 1, 2018 $3,000 b. 2018 contri butions $730. c. 2019 contributions $780 d. Expected long-term rate of return on plan assets 12%. e. 2018 actual return on plan assets $280. f. 2019 actual return on plan assets $330 The Kollar Company has a defined benefit pension plan. Pension information concerning the fiscal years 2018 and 2019 a below ($ in millions): are presented Information Provided by Pension Plan Actuary: a. Projected benefit obligation as of December 31, 2017 $4,250. b. Prior service cost from plan amendment on January 2, 2018 $55O (straight-line amortization for 10-year average remaining service period) c. Service cost for 2018 $710 d. Service cost for 2019 $760. e. Discount rate used by actuary on projected benefit obligation for 2018 and 2019 f. Payments to retirees in 2018 $570. g. Payments to retirees in 2019 $640. h. No changes in actuarial assumptions or estimates . Net gain-AOCI on January 1, 2018 $475 j. Net gains and losses are amortized for 10 years in 2018 and 2019. 10 % . Information Provided by Pension Fund Trustee: a. Plan asset balance at fair value on January 1, 2018 $3,000 b. 2018 contri butions $730. c. 2019 contributions $780 d. Expected long-term rate of return on plan assets 12%. e. 2018 actual return on plan assets $280. f. 2019 actual return on plan assets $330
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