Question
Use the following information relates to the pension plan for the employees of Turner Co. to answer the following question: 1/1/19 12/31/19 12/31/2020 Accum. benefit
Use the following information relates to the pension plan for the employees of Turner Co. to answer the following question:
| 1/1/19 | 12/31/19 | 12/31/2020 | |
| Accum. benefit obligation | $6,160,000 | $6,440,000 | $8,400,000 |
| Projected benefit obligation | 6,510,000 | 4,972,000 | 9,338,000 |
| Fair value of plan assets | 5,950,000 | 5,350,000 | 8,036,000 |
| AOCI - net (gain) or loss | -0- | (1,008,000) | (1,120,000) |
| Settlement rate (for year) | 11% | 11% | |
| Expected rate of return (for year) | 8% | 7% |
Turner estimates that the average remaining service life is 16 years. Turner's contribution was $882,000 in 2020 and benefits paid were $658,000.
The corridor for 2020 is:
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U.S. Mergers And Acquisitions Legal And Financial Aspects
Authors: Felix Lessambo
1st Edition
3030857344,3030857352
