Pension plan assets were $2,350 million at the beginning of the year and $2,580 million at the end of the year. At the end of the year, retiree benefits paid by the trustee were $61 million and cash invested in the pension fund was $62 million. What was the percentage rate of return on plan assets?

Pension plan assets were $2,350 million at the beginning of the year and $2,580 million at the end of the year. At the end of the year, retiree benefits paid by the trustee were $61 million and cash invested in the pension fund was $62 million. What was the percentage rate of return on plan assets?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 9RE: Given the following information for Tyler Companys pension plan at the beginning of the year,...

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Question

Financial accounting problem

Pension plan assets were $2,350 million at the
beginning of the year and $2,580 million at the
end of the year. At the end of the year, retiree
benefits paid by the trustee were $61 million
and cash invested in the pension fund was $62
million.
What was the percentage rate of return on
plan assets?

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