Ivanhoe, Inc. received the following information from its pension plan trustee concerning the operation of the company's defined-benefit pension plan for the year ended December 31, 2021.     January 1, 2021   December 31, 2021 Fair value of pension plan assets     $5100000       $5500000   Projected benefit obligation     5900000       6380000   Accumulated benefit obligation     1070000       1310000   Accumulated OCI – (Gains / Losses)     0       -170000   The service cost component of pension expense for 2021 is $350000 and the amortization of prior service cost due to an increase in benefits is $70000. The settlement rate is 9% and the expected rate of return is 8%. What is the amount of pension expense for 2021?     $350000   $554200   $543000   $373000

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Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.