Question: please solve correctly Sachs Brands's defined beneft pension plan specifies annual retirement benefits equol to 1.4% service years x final year's salary. payable at the
Sachs Brands's defined beneft pension plan specifies annual retirement benefits equol to 1.4% service years x final year's salary. payable at the end of each year. Angela Davenport was hired by Sachs at the beginning of 2010 and is expectod to retire at the end of 2044 after 35 yoars'service. Her retiremont is expected to span 18 years. Davenport's salary is $82.000 at the end of 2024 and the company's actuary projects hor salary to be $240,000 at rotirement. The actuary's discount rate is 8% Note: Use tables, Excel, or a financial calculator, (FV of \$1, PV of \$1. FVA of S1. PVA of S1, EVAD of S1 and PVAD of \$1) As the boginning of 2025 , the pension formula was amended to: 1.55% Service years Final year's salary The amendment was made retrooctive to apply the increased benefits to prior service yoars. Required: 1. What is the company's prior service cost at the beginning of 2025 with respoct to Davenport after the amendment described obove? 2. Since the amendment occurred at the beginning of 2025, amortization of the prior service cost begins in 2025 . What is the prior service cost amortization that would be included in pension expense? 3. What is the service cost for 2025 with respect to Dovenport? 4. What is the interest cost for 2025 with respect to Davenport? 5. Calculate pension expense for 2025 with respect to Davenport, assuming plan assets attributable to her of $100,000 and a rate of retum (actual and expected) of 10%. Note: For all requirements, do not round intermediate calculations. Round your final answers to the nearest whole dollar
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