Business, 29.01.2021 16:30 mbarron279542

The following information pertains to Havana Corporation's defined benefit pension plan: ($ in thousands) 2021
Beginning balances 2022
Beginning balances
Projected benefit obligation $ (7,500 ) $ (8,004 )
Plan assets 7,200 7,836
Prior service cost–AOCI 750 700
Net loss–AOCI $ 870 $ 950

At the end of 2021, Havana contributed $755 thousand to the pension fund and benefit payments of $744 thousand were made to retirees. The expected rate of return on plan assets was 10%, and the actuary's discount rate is 7%. There were no changes in actuarial estimates and assumptions regarding the PBO.

What is the 2021 pension expense for Havana’s plan?
A. $735 thousand.
B. $593 thousand.
C. $688 thousand.
D. None of these are correct.

Answers: 1

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The following information pertains to Havana Corporation's defined benefit pension plan: ($ in thou...

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