3004451
Descrição
FlashCards por Eylin Nunez, atualizado more than 1 year ago
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Criado por Eylin Nunez
aproximadamente 9 anos atrás
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| Questão | Responda |
| Defined benefit plan | benefits employees receive at retirement are determined by a formula |
| Defined contribution plan | contributions that sponsor company receives, determined by a formula (simple) |
| Accumulated Benefit Obligation (ABO) | PV of future retirement payments, uses current/past salary levels |
| Projected Benefit Obligation (PBO) | on BS, assumes future compensation levels |
| Vested | employee has earned benefits |
| Service Cost | PV of all pension benefits earned by co. employees in current yr |
| Interest Cost | increase in PBO due to changes in actuarial assumption |
| benefit payments | payments to plan participants after retirement |
| Projected Benefit obligation (PBO) formula | |
| Plan Assets | stocks, bonds, other investments set aside to provide for pension benefits |
| Actual return on plan assets | return on plan assets - returns on assets held by pension plan |
| Ending FV of Plan Assets Formula | |
| Net Periodic Benefits | |
| Interest Cost Formula | |
| expected return on plan assets formula | |
| amortization of unrecognized prior service cost formula | |
| Changes in Actuarial assumptions | |
| amortization of existing net obligation/asset at implementation(rare) | |
| pension plan contributions | |
| Net pension gain<loss> | under GAAP, its the difference between expected return on plan assets and actual return on plan assets |
| Funded Status | FV plan assets - PBO = Funded Status pension plan with a positive funded status will always report a noncurrent asset |
| Effective Tax Rate | Effective tax rate = Income tax expense / Pretax income |
| Attribution Period | period of an employee's service to which the expected postretirement benefit obligation for that employee is assigned |
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