The projected benefit obligation was $80 million at the beginning of the year and $85 million at the end of theyear. Service cost for the year was $10 million. At the end of the year, there was no prior service cost and a negligible net loss–AOCI. The actuary’s discount rate was 5%. What was the amount of the retiree benefits paid bythe trustee?

The projected benefit obligation was $80 million at the beginning of the year and $85 million at the end of theyear. Service cost for the year was $10 million. At the end of the year, there was no prior service cost and a negligible net loss–AOCI. The actuary’s discount rate was 5%. What was the amount of the retiree benefits paid bythe trustee?

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter19: Deferred Compensation

Section: Chapter Questions

Problem 16CE

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The projected benefit obligation was $80 million at the beginning of the year and $85 million at the end of the year. Service cost for the year was $10 million. At the end of the year, there were no pension-related other comprehensive income accounts. The actuary’s discount rate was 5%. What was the amount of the retiree benefits paid by the trustee?
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The projected benefit obligation was $80 million at the beginning of the year and $85 million at the end of theyear. At the end of the year, pension benefits paid by the trustee were $6 million and there were no pension-related other comprehensive income accounts requiring amortization. The actuary’s discount rate was 5%. Whatwas the amount of the service cost for the year?
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The projected benefit obligation was $80 million at the beginning of the year and $85 million at the end of the year. Service cost for the year was $10 million. At the end of the year, pension benefits paid by the trustee were $6 million. The actuary’s discount rate was 5%. At the end of the year, the actuary revised the estimate of the percentage rate of increase in compensation levels in upcoming years. What was the amount of the gain or loss the estimate change caused?
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Please no written by hand solutions 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?
The projected benefit obligation was $80 million at the beginning of the year. Service cost for the year was $10 million. At the end of the year, pension benefits paid by the trustee were $6 million and there were no pension- related other comprehensive income accounts requiring amortization. The actuary’s discount rate was 5%. The actual return on plan assets was $5 million although it was expected to be only $4 million. What was the pension expense for the year?