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An analysis of a pension plan's funding status, calculating expected retirement benefits, pension expense, and pension liability based on provided data. It also discusses the amortization of unexpected gains and the impact on gaap pension expense.
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yrs Expected PVOA[i,n] PV retirement PVSS[i,n] PV retirement last-5 of Benefit benefit i=.06/12 stream at i=.06 stream salary service formula earned* n=240 retirement date*** n=yrs till retire today** Jose $200,000.00 3 0.0021417 $1,285.00 139.581 $179,361.59 0.0865274 $15,519. Allison $180,000.00 3 0.0021417 $1,156.50 139.581 $161,425.43 0.137912 $22,262. Emeka $160,000.00 3 0.0021417 $1,028.00 139.581 $143,489.27 0.184557 $26,481. $64,264.
Interest cost= Service cost=21421. MV plan assets (12/31/2010)=MV plan assets (12/31/2009) + cash contributed to pension plan + dollar return on plan assets – retirement payments to retirees