Pension Plan Calculation. The Village of Dover administers a defined benefit pension plan for its police and fire personnel. Employees are not required to contribute to the plan. The village received from the actuary and other sources the following information about the Public Safety Employees’ Pension Fund as of December 31, 2011.
Required
Assuming that the Village of Dover contributes $385,000 cash to the plan on December 31, 2011, calculate the employer’s
a. Annual pension cost.
b. Net pension obligation, as of December 31, 2011.
(Wilson 349-350)
Wilson. Accounting for Governmental and Nonprofit Entities, 15th Edition. McGraw-Hill Learning Solutions, 2010. VitalBook file.
The citation provided is a guideline. Please check each citation for accuracy before use.
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