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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Relationship among pension elements
The funded status of Hilton Paneling Inc.’s defined benefit pension plan and the balances in prior service cost and the net gain–pensions, are given below.

Retirees were paid $270,000 and the employer contribution to the pension fund was $245,000 at the end of 2016. The expected rate of return on plan assets was 10%, and the actuary’s discount rate is 7%. There were no changes in actuarial estimates and assumptions regarding the PBO.
Required:
Determine the following amounts for 2016:
 1. Actual return on plan assets
 2. Loss or gain on plan assets
 3. Service cost
 4. Pension expense
 5. Average remaining service life of active employees (used to determine amortization of the net gain)
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