Question: Assume that the actuarially required pension plan contribution for a county for its general government employees is $8,000,000. Compute the pension expenditures to be reported

Assume that the actuarially required pension plan contribution for a county for its general government employees is $8,000,000. Compute the pension expenditures to be reported in each of the following situations:
1. The county contributed $5,000,000 to the pension plan. Its unfunded pension liability increased by $3,000,000 (all classified as unmatured).
2. The county contributed $4,500,000 to the pension plan. Its unfunded pension liability increased by $3,500,000 (all classified as unmatured).
3. The county contributed $4,200,000 to the pension plan. The matured portion of its unfunded pension liability increased $150,000.
4. The county contributed $9,000,000 to the pension plan. The matured portion of its unfunded pension liability decreased $200,000.

Step by Step Solution

3.48 Rating (158 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Cash Contribution Changes in Fund Liability Pension ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

342-B-A-G-F-A (4327).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!