Pension plan assets were $80 million at the beginning of the year and $83 million at the end of the year. The return on plan assets was 5%. At the end of the year, cash invested in the pension fund was $7 million. What was the amount of the retiree benefits paid by the trustee?

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A: Formula: Ending PBO = Beginning PBO + Interest on beginning PBO + Service cost - benefits paid

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A:

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A: Fair market value It is the price, an asset would be sold in an open market when certain covenants…

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A: Service cost  Service Costs are the Consultant's predetermined monthly costs for the performance of…

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A: Pension expense is the amount of money incurred by an entity in relation to the pension liabilities…

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A: Plan assets:   The assets which are used to satisfy the post retirement obligation, are held as a…

Q: On January 1, 2024, Ravetch Corporation's projected benefit obligation was $43 million. During 2024…

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A: Introduction:- Journal entries used to record business transactions. which plays vital role in book…

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A:

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A:

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.