On January 1, 2021, Sandhill Co. has the following balances: Projected benefit obligation Fair value of plan assets $3300000 2800000 The settlement rate is 9%. Other data related to the pension plan for 2021 are: Service cost Amortization of prior service costs due to increase in benefits Contributions Benefits paid Actual return on plan assets Amortization of net gain $296000 The balance of the projected benefit obligation at December 31.2021 is 96000 496000 221000 391000 29600

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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.