The following information relates to the defined benefit pension plan for the employees of a company: 1/1/20 12/31/20 12/31/21 Projected benefit obligation $211,000 $318,000 $418,000 Accumulated benefit obligation 190,000 294,000 397,000 Fair value of plan assets 157,000 266,000 448,000 Accumulated OCI--gains -0- 135,000 145,000 The company estimates that the average remaining service life is 40 years. The company’s contribution was $64,000 in 2021 and benefits paid were $9,000. The actual return on plan assets in 2021 is $________________. (Use the formula: Ending Plan Assets = Beginning Plan Assets + Actual Returns + Contributions – Distributed Benefits, to figure out actual returns.)
The following information relates to the defined benefit pension plan for the employees of a company:
1/1/20 12/31/20 12/31/21
Projected benefit obligation $211,000 $318,000 $418,000
Accumulated benefit obligation 190,000 294,000 397,000
Fair value of plan assets 157,000 266,000 448,000
Accumulated OCI--gains -0- 135,000 145,000
The company estimates that the average remaining service life is 40 years. The company’s contribution was $64,000 in 2021 and benefits paid were $9,000.
The actual return on plan assets in 2021 is $________________. (Use the formula: Ending Plan Assets = Beginning Plan Assets + Actual Returns + Contributions – Distributed Benefits, to figure out actual returns.)
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