Herring Wholesale Company has a defined benefit pension plan. On January 1, 2016, the following pension related data were available:
($ in 000s)
Net gain–AOCI $ 350
Accumulated benefit obligation 3,170
Projected benefit obligation 3,200
Fair value of plan assets 2,700
Average remaining service period of active employees
(expected to remain constant for the next several years) 15 years
What I have so far below, I'm not sure where the Excess comes from?
in (000)
Net Gain 350
ER *of the greater of PA or PBO 320
Excess at beg yr
Avg remain svc period yrs 15
Amount Amortized
1 answer
Net Gain - ER *of the greater of PA or PBO, then amount amortized = Excess/Avg remain svc period yrs
2 answers