Preparing a Pension Work Sheet
The following information relates to the defined benefit pension plan of Mascare Company.
|
January 1, 2008: |
|
|
PBO |
$9,000 |
|
FVPF |
$11,000 |
|
Expected return on plan assets |
8% |
|
Settlement discount rate |
10% |
|
For the year ended December 31, 2008: |
|
|
Service cost |
$1,200 |
|
Benefit payments to retirees |
500 |
|
Contributions to pension fund |
100 |
|
Actual return on plan assets |
1,500 |