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Compute the post retirement benefit expense

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Question - Teal Co. provides the following information about its postretirement benefit plan for the year 2020.

Service cost $83,900

Prior service cost amortization 3,100

Contribution to the plan 51,000

Actual and expected return on plan assets 67,100

Benefits paid 42,700

Plan assets at January 1, 2020 697,300

Accumulated postretirement benefit obligation at January 1, 2020 756,400

Accumulated OCI (PSC) at January 1, 2020 103,300 Dr.

Discount rate 8%

Required - Compute the post retirement benefit expense for 2020.

Reference no: EM132559296

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