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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Preparing a Pension Work Sheet
The following information relates to the defined benefit pension plan of Mascare Company.
|
January 1, 2008: |
|
|
PBOÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â |
$9,000 |
|
FVPFÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â |
$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 |
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