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Business, 30.03.2021 15:50 itsshyraa

Best Home Construction Corporation has a defined benefit pension plan. The 2019 data for this plan appear below. At 12/31/19: ($ in thousands)
PBO ($3,765,000)
ABO ($2,447,000)
Plan Assets $3,600,000
Pension Asset/(Liability) ($165,000)

For 2020:($ in thousands)

Amendment at 1/1/2020 - Prior Service cost $450,000
Actual return on plan assets $150,000
Service cost $207,000
Cash contributions $191,250
Retiree benefits paid $182,000
Settlement rate for liability 6%
Expected return on plan assets 4%

The average remaining service life of the active employee group is 15 years in 2020.

Required:
Complete the pension worksheet

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Answers: 2

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