Question - Postretirement 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 postretirement benefit obligation at January 1, 2014 330,000
Discount rate 8%
Instructions - Compute the postretirement benefit expense for 2014.