Define projected benefit obligation. How does this differ from ... | Filo
Define projected benefit obligation. How does this differ from ... | Filo
5 months ago
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The projected benefit obligation was 380 million at the beginning of the year. Service cost for the year was42 million. At the end of the year, pension benefits paid by the trustee were 22 million and there were no pension-related other comprehensive income (OCI) accounts requiring amortization. The actuary's discount rate was 5%. The actual return on plan assets was $21 million although it was expected to be only $20 million. What was the total pension expense for the year?
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