Millions 2016 Projected Benefit Obligation Projected benefit obligation at beginning of year $ 3,958 Service cost...
|
Millions |
2016 |
|
|
Projected Benefit Obligation |
||
|
Projected benefit obligation at beginning of year |
$ |
3,958 |
|
Service cost |
84 |
|
|
Interest cost |
143 |
|
|
Actuarial loss/(gain) |
124 |
|
|
Gross benefits paid |
(199) |
|
|
Projected benefit obligation at end of year |
$ |
4,110 |
|
Plan Assets |
||
|
Fair value of plan assets at beginning of year |
$ |
3,544 |
|
Actual return/(loss) on plan assets |
279 |
|
|
Voluntary funded pension plan contributions |
100 |
|
|
Non-qualified plan benefit contributions |
24 |
|
|
Gross benefits paid |
(199) |
|
|
Fair value of plan assets at end of year |
$ |
3,748 |
a. How much retirement benefits did former employees receive during the year?
b. What rate did Union Pacific ‘s pension assets actually earn during 2016?
c. What average rate did Union Pacific use to calculate interest cost during 2016?
Homework Answers
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Millions
2016
Projected Benefit Obligation
Projected benefit obligation at
beginning of year
$
3,958
Service cost...
The projected benefit obligation was $160 million at the beginning of the year and $165 million at the end of the yea...
The projected benefit obligation was $160 million at the beginning of the year and $165 million at the end of the year. Service cost for the year was $6 million. At the end of the year, pension benefits paid by the trustee were $2 million. The actuary's discount rate was 5%.At the end of the year, the actuary revised the estimate of the percentage rate of increase in compensation levels in upcoming years. What was the amount of the gain...
The projected benefit obligation was $280 million at the beginning of the year. Service cost for...
The projected benefit obligation was $280 million at the beginning of the year. Service cost for the year was $32 million. At the end of the year, pension benefits paid by the trustee were $17 million and there were no pension-related other comprehensive income accounts requiring amortization. The actuary's discount rate was 5%. The actual return on plan assets was $16 million although it was expected to be only $15 million What was the pension expense for the year? Pension...
The projected benefit obligation was $320 million at the beginning of the year. Service cost for...
The projected benefit obligation was $320 million at the beginning of the year. Service cost for the year was $36 million. At the end of the year, pension benefits paid by the trustee were $19 million and there were no pension-related other comprehensive income accounts requiring amortization. The actuary's discount rate was 5%. The actual return on plan assets was $18 million although it was expected to be only $17 million. What was the pension expense for the year? Pension...
The projected benefit obligation was $180 million at the beginning of the year. Service cost for...
The projected benefit obligation was $180 million at the beginning of the year. Service cost for the year was $22 million. At the end of the year, pension benefits paid by the trustee were $12 million and there were no pension-related other comprehensive income accounts requiring amortization. The actuary's discount rate was 5%. The actual return on plan assets was $11 million although it was expected to be only $10 million What was the pension expense for the year? millon...
SuperSports provides you the following pension data for the year 2016. Item Service Cost, 2016...
SuperSports provides you the following pension data for the year 2016. Item Service Cost, 2016 $248,000 Projected Benefit Obligation, January 2016 $340,000 Plan assets (fair value), Januray 1, 2016 $360,000 Prior Service Cost - AOCI (2016 amoritization, $25,000) $250,000 Net Loss - AOCI (2016 amoritization, $10,000) $110,000 Actual Return on Plan Assets $45,000 Interest rate and expected return on plan assets 10% Contributions made to plan assets during 2016 $175,000 SuperSports requests you to: Compute pension expense for the...
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The projected benefit obligation was $220 million at the beginning of the year. Service cost for...
The projected benefit obligation was $220 million at the beginning of the year. Service cost for the year was $13 million. At the end of the year, pension benefits paid by the trustee were $9 million and there were no pension-related other comprehensive income accounts. The actuary's discount rate was 5%. What was the amount of the projected benefit obligation at year-end? End of the year PBO million
The projected benefit obligation was $260 million at the beginning of the year. Service cost for...
The projected benefit obligation was $260 million at the beginning of the year. Service cost for the year was $15 million. At the end of the year, pension benefits paid by the trustee were $11 million and there were no pension-related other comprehensive income accounts requiring amortization. The actuary's discount rate was 5%. What was the amount of the projected benefit obligation at year-end? End of the year PBO million
On January 1, 2020, McGee Co. had the following balances: Projected benefit obligation
On January 1, 2020, McGee Co. had the following balances: Projected benefit obligation $7,400,000 Fair value of plan assets 7,000,000 Other data related to the pension plan for 2020: Service cost 315,000 Contributions to the plan 459,000 Benefits paid 450,000 Actual return on plan assets 444,000 Settlement rate 9% Expected rate of return 6% Average service periods (for amortization) 8yrs (a) Determine the projected benefit obligation at December 31, 2020. There...
On January 1, 2018, Sandhill Co. has the following balances: Projected benefit obligation $ 5200000 Fair value of plan...
On January 1, 2018, Sandhill Co. has the following balances: Projected benefit obligation $ 5200000 Fair value of plan assets 4600000 The settlement rate is 9%. Other data related to the pension plan for 2018 are: Service cost $316000 70000 Amortization of prior service costs Contributions 356000 Benefits paid 331000 348000 Actual return on plan assets Amortization of net gain 23600 The balance of the projected benefit obligation at December 31, 2018 is $5653000. $5668000 $5494000 $5984000
On January 1,...
The projected benefit obligation was $160 million at the beginning of the year and $165 million at the end of the year. Service cost for the year was $6 million. At the end of the year, pension benefits paid by the trustee were $2 million. The actuary's discount rate was 5%.At the end of the year, the actuary revised the estimate of the percentage rate of increase in compensation levels in upcoming years. What was the amount of the gain...
The projected benefit obligation was $280 million at the beginning of the year. Service cost for the year was $32 million. At the end of the year, pension benefits paid by the trustee were $17 million and there were no pension-related other comprehensive income accounts requiring amortization. The actuary's discount rate was 5%. The actual return on plan assets was $16 million although it was expected to be only $15 million What was the pension expense for the year? Pension...
The projected benefit obligation was $320 million at the beginning of the year. Service cost for the year was $36 million. At the end of the year, pension benefits paid by the trustee were $19 million and there were no pension-related other comprehensive income accounts requiring amortization. The actuary's discount rate was 5%. The actual return on plan assets was $18 million although it was expected to be only $17 million. What was the pension expense for the year? Pension...
The projected benefit obligation was $180 million at the beginning of the year. Service cost for the year was $22 million. At the end of the year, pension benefits paid by the trustee were $12 million and there were no pension-related other comprehensive income accounts requiring amortization. The actuary's discount rate was 5%. The actual return on plan assets was $11 million although it was expected to be only $10 million What was the pension expense for the year? millon...
The projected benefit obligation was $440 million at the beginning of the year. Service cost for the year was $24 million. At the end of the year, pension benefits paid by the trustee were $20 million and there were no pension-related other comprehensive income accounts. The actuary's discount rate was 5%. What was the amount of the projected benefit obligation at year-end? End of the year PBO million
The projected benefit obligation was $220 million at the beginning of the year. Service cost for the year was $13 million. At the end of the year, pension benefits paid by the trustee were $9 million and there were no pension-related other comprehensive income accounts. The actuary's discount rate was 5%. What was the amount of the projected benefit obligation at year-end? End of the year PBO million
The projected benefit obligation was $260 million at the beginning of the year. Service cost for the year was $15 million. At the end of the year, pension benefits paid by the trustee were $11 million and there were no pension-related other comprehensive income accounts requiring amortization. The actuary's discount rate was 5%. What was the amount of the projected benefit obligation at year-end? End of the year PBO million
On January 1, 2018, Sandhill Co. has the following balances: Projected benefit obligation $ 5200000 Fair value of plan assets 4600000 The settlement rate is 9%. Other data related to the pension plan for 2018 are: Service cost $316000 70000 Amortization of prior service costs Contributions 356000 Benefits paid 331000 348000 Actual return on plan assets Amortization of net gain 23600 The balance of the projected benefit obligation at December 31, 2018 is $5653000. $5668000 $5494000 $5984000
On January 1,...
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