Question - Post retirement Benefit Expense Computation- Kreter Co. Provides the following information about its postretirement benefit plan for the year 2014.
Service cost-45,000
Contribution to the plan-10,000
Actual and expected return on plan assets- 11,000
Benefits paid- 20,000
Plan assets at January 1, 2014- 110,000
Accumulated post retirement benefit obligation at January 1, 2014-330,000.
Discount rate 8%
INSTRUCTIONS- Compute the post retirement benefits expense for 2014.