Hudson Company’s actuary has provided the following information concerning the company’s defined benefit pension plan at the end of 2013:
Hudson Company’s actuary has provided the following information concerning the company’s defined benefit pension plan at the end of 2013:
| Fair value of plan assets (1/1/2013) | $350,000 |
| Actual projected benefit obligation (1/1/2013) | 360,000 |
| Expected projected benefit obligation (1/1/2013) | 424,000 |
| Average remaining service life of employees | 10 years |
The difference between the actual and expected projected benefit obligation first occurred in 2012.
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