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what is the Plan Expense, and PBO, and Plan Asset? And, is the Plan Asset/Liability the same as the Plan Expense? Thank you, On January
what is the Plan Expense, and PBO, and Plan Asset?
And, is the Plan Asset/Liability the same as the Plan Expense?
Thank you,
On January 1, 2017, Blossom Company has the following defined benefit pension plan balances:
PBO $4,455,000
Fair value of Pension Assets $4,270,000
The interest (settlement) rate applicable to the plan is 10%. On January 1, 2018, the company amends its pension agreement so that prior service cost of $504,000 are created. Other data related to the Pension Plan are as follows:
2017 2018
Service Cost $147,000 $183,000
PSC Amortization $0 $91,000
Contribution(funding) to the plan $244,000 $280,000
what is the Plan Expense, and PBO, and Plan Asset?
And, is the Plan Asset/Liability the same as the Plan Expense?
Thank you,
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