(solution) PantherTec offers a defined benefit pension plan for its

(solution) PantherTec offers a defined benefit pension plan for its

PantherTec offers a defined benefit pension plan for its employees. The company?s pension formula pays 2% per year of service time of the employee?s final year?s salary, with a maximum benefit of 75%. To illustrate, an employee earning $200,000 and retiring after 20 years would receive an $80,000 annual benefit (2% x 20 years x $200,000).

Accompanying this project is an Excel spreadsheet with two tabs. The first, ?Employee Information,? lists the 200 employees of PantherTec, along with information which may or may not be needed to compute pension obligations. The second tab, ?Pension Plan Asset Performance,? outlines how PantherTec?s plan assets have performed over the last several periods, as well as expected returns on plan assets over that period. As described in the Pension Plan Asset Performance tab, there is a cumulative loss on pension plan assets of approximately

$16.5 million that is unamortized as of 12/31/2014. There are no prior service costs or other accumulated losses on the projected benefit obligation.

Required: Write a project summary addressing each of the following requirements, citing accompanying tables and figures as necessary. Your final deliverable will be submitted electronically via Dropbox on D2L and should include a typed report with responses to each of the following points as well as an Excel file with supporting analysis. Responses should be succinct, but complete.

Analyses:

1. Compute the projected benefit obligation (PBO) as of 12/31/2014 using the ?Employee Information? tab assuming the company?s actuary recommends a 6% discount rate. For simplicity, assume that all retirements occur on December 31 of the retirement year, and partial years worked provide no benefit. In other words, if a 40 year-­?old employee begins working on 7/1/2014 and is expected to retire at 65, then assume that his retirement date is 12/31/2039 and that he will accrue 25 years of service (2015 through 2039). Computations should be performed in Excel.

2. Compute Pension Expense for 2014, separately identifying each component. Prepare the associated journal entry. Note that you will need to compute the PBO as of 2013 to obtain interest and service cost components of pension expense. Make sure to ignore employees hired in 2014 when computing the 2013 PBO. Assume that no actuarial assumptions changed between 2013 and 2014 (i.e., same projected ending salaries, benefit periods, etc.).

3. Describe the funding status for the plan. Is the plan over-­? or under-­?funded? Does 2014 pension expense include any amortization of a gain or loss on pension plan assets?

Critical Thinking:

4. Compare the current and projected salaries as well as the PBO for male vs. female employees. Do you notice any differences? If so, comment on possible reasons for those differences. It may be useful to use a Pivot Table for your analysis.

5. Assume PantherTec is considering investing in an employee health and wellbeing program. This program will involve an onsite fitness center and complementary dietary and fitness consulting services. Discuss how this program could lead to a moral hazard, keeping in mind that managers of companies have both social responsibilities to employees and fiduciary responsibilities to shareholders.

6. Comment on the trend in plan asset returns. Have managers been accurate in their expected rates of return? When pension plan assets consistently deviate from expected returns, there are two possible actions managers may take: Adjust the riskiness of the plan?s investment portfolio, or adjust the expected rate of return. Discuss the ethical dilemma managers face when confronted with those two choices.

I have been given some information regarding project from professor which I wanted to share with you so you can make sure this project is 100% correct.

1. The example given in the instructions is merely meant to illustrate how a final retirement benefit would be calculated. That is NOT how you calculate the PBO. The PBO is based on years of service (not total expected years service), just like we learned in Chapter 17.

2. The 75% percent benefit caps the percent of the salary that employees can accrue via service time. In other words, after 37 years of service, the employee is owed 74% of their forecasted retirement salary. After 38 years of service (and beyond), they get 75%.

3. Related to #2, the easiest way to implement that feature of the plan is with the “MIN()” function. In other words, compute the annual benefit as SALARY x MIN(75%,2% x YRS) where YRS is years of service. This will automatically cap the benefit at 75%.

Employee Info as of:
EMPID 12/31/2014
Employee Name 252160 Birdie Ahlers 205188 Francesco Alers 252579 Deneen Alonzo 397185 Loyd Alt 156175 Ignacio Arter 118099 Garland Audete 310475 Lynete Back 307248 Marcelino Baldon 431615 Randolph Balser 336022 Daniel Bastarache 448195 Garret Baten 279704 Keenan Baze 176833 Gabriel Bea 355450 Catna Beason 351791 Dong Beaty 163872 Vince Bhat 294706 Jospeh Blanco 162642 Bete Bolanos 334792 Dean Bopp 193413 Kiesha Braithwaite 446198 Hermina Brasch 362755 Arnulfo Brissete 403652 Waylon Britan 355869 Elijah Brownson 411768 Clemente Bunde 170758 Ruben Bussey 248501 Shalon Carlson 172755 Rosalva Carmen 169528 Kristan Chappell 274048 Moon Claw 262273 Ethan Clukey 272818 Berenice Cogan
321020 Zane Connelly 404071 Tamela Cordes 331133 Steve Cordray 224616 Brandon Cregan 390299 Argentna Curran 207185 Eliseo Cutshall 438501 Devon Dalpiaz 125404 Matha Dauphin 163061 Jeta Derose 287009 Raymundo Derrow 135098 Shawana Devivo 246504 Andy Dively 197072 Noble Dotson 190186 Tory Dowdell 363566 Elijah Eakle 338019 Julio Edmisten 165869 Natalie Elsen 308478 Dillon Elser 132290 Heath Fava 293895 Jerrod Ferree 186527 Benedict Forck 135517 Amparo Frantz 111632 Jorge Freitag 341678 Lawanna French 177644 Cheryl Frost 234729 Una Galante 286590 Raina Gass 259465 Delphia Gaxiola 362336 Clif Giesen 383413 Karly Goldschmidt 136328 Jasper Gowans 190605 Jefery Grasso 126215 Hosea Guertn 441309 Carol Guillermo 348983 Gia Guillory 424729 Nickole Gunning 348564 Danial Hadley 369641 Todd Hallowell 266351 Joane Halsted 417424 Delbert Hanway Gender DOB F
M
F
M
M
M
F
M
M
M
M
M
M
F
M
M
M
F
M
F
F
M
M
M
M
M
F
F
F
F
M
F
M
F
M
M
F
M
M
F
F
M
F
M
M
M
M
M
F
M
M
M
M
F
M
F
F
F
F
F
M
F
M
M
M
M
F
F
M
M
F
M 5/26/1985
8/13/1969
12/20/1949
10/8/1949
1/29/1993
10/31/1978
4/12/1961
9/11/1955
8/25/1959
1/31/1950
1/8/1972
11/28/1950
8/4/1954
12/15/1966
12/2/1992
7/23/1953
2/11/1953
6/13/1976
6/1/1954
2/14/1989
3/25/1990
4/29/1964
11/20/1963
5/11/1983
9/24/1992
12/25/1950
9/15/1956
4/6/1967
5/2/1973
10/8/1977
8/7/1949
11/16/1963
12/10/1981
7/18/1962
10/1/1992
1/11/1970
11/7/1961
11/1/1952
10/12/1952
6/2/1951
5/27/1979
9/18/1986
9/5/1962
12/25/1962
12/29/1992
8/7/1989
11/5/1980
8/22/1951
8/22/1952
8/10/1989
6/8/1976
3/3/1959
10/6/1977
8/9/1982
6/22/1975
10/3/1991
5/24/1981
11/26/1968
11/22/1972
5/11/1961
7/19/1956
7/3/1987
6/20/1988
7/26/1961
12/2/1982
7/19/1958
2/6/1984
9/18/1951
6/4/1966
10/31/1991
2/20/1951
3/25/1992 Date of Employment
1-Jul-14
2-Oct-93
28-Dec-73
5-Mar-93
1-Aug-12
15-Feb-06
21-Sep-87
21-Mar-83
7-Jul-83
25-Feb-90
5-Dec-95
1-Jul-79
22-Apr-78
5-Dec-97
14-Dec-13
9-Jul-75
1-Jun-76
16-Jan-02
13-Dec-76
2-Jun-14
16-Aug-12
18-Jan-86
18-Apr-85
24-Apr-12
18-Apr-14
21-Jan-72
8-Jul-78
27-Apr-93
14-Feb-06
18-Dec-01
2-Mar-77
5-Oct-85
10-May-04
2-Jul-86
19-Apr-13
1-Jan-92
12-Nov-86
4-Mar-80
5-Feb-74
18-Jul-87
22-Dec-01
1-Sep-08
8-Nov-85
17-Nov-96
8-Dec-12
12-Aug-11
27-May-02
16-Jul-92
20-Oct-74
10-Apr-12
5-Oct-12
21-Sep-82
22-Feb-99
4-Nov-12
19-Mar-13
9-Sep-14
17-Jun-04
5-Feb-95
27-Feb-03
7-Mar-87
8-Jan-81
23-Nov-09
5-May-12
24-Feb-00
14-Jun-08
8-Oct-82
10-Jan-06
19-Oct-73
27-Nov-89
26-Jul-13
20-Jul-87
4-Sep-13 Salary as of
12/31/2014
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$ 104,038
403,962
110,392
211,617
44,823
99,491
124,183
179,814
332,220
150,283
204,384
182,242
422,322
117,948
35,780
217,807
222,813
34,934
251,497
40,364
33,718
140,852
63,512
79,599
44,833
320,081
89,018
55,024
70,169
137,241
194,707
115,340
37,020
79,254
41,257
176,720
141,803
260,734
183,718
85,543
35,093
39,590
59,969
88,673
87,640
72,069
84,687
366,325
75,757
39,375
58,948
110,385
41,932
69,599
188,274
64,185
137,770
288,253
229,758
55,644
319,396
32,062
72,902
150,091
162,753
217,926
81,283
225,335
81,763
57,078
184,498
41,673 Anticipated
Retirement
Age
65
65
69
68
65
60
61
63
61
66
66
67
62
64
66
65
63
61
62
65
65
62
64
60
64
66
66
66
62
63
69
63
65
63
65
65
65
63
66
66
65
63
61
64
66
62
65
66
66
66
66
60
65
66
61
65
65
64
60
64
64
66
66
64
61
65
64
64
63
61
64
60 Forecasted
Retirement
Salary Anticipated Life
Span Health Score
7
9
5
10
3
9
5
6
4
10
5
6
4
8
6
9
9
10
10
9
10
10
3
8
4
6
7
5
4
10
7
6
4
6
7
7
7
3
6
6
8
9
5
3
9
5
8
8
4
8
7
10
8
9
6
5
8
8
9
8
8
10
9
6
6
7
8
4
10
9
8
7 85
81
81
82
77
83
81
78
76
82
79
78
76
84
80
81
81
88
82
87
88
82
75
82
78
78
83
81
82
88
79
82
78
82
81
81
83
75
78
82
86
83
81
75
83
79
82
80
80
82
81
82
82
87
80
83
86
84
87
84
80
88
83
78
80
79
86
80
82
83
84
81 346,529.63
542,178.90
124,246.81
231,239.61
224,565.51
232,244.72
157,311.64
202,382.24
396,688.05
159,435.23
433,369.51
199,140.75
448,041.41
204,271.88
191,364.56
245,143.70
236,382.31
98,946.18
266,813.17
191,667.85
173,287.66
215,821.27
108,269.51
217,580.26
215,153.38
339,573.93
112,765.82
111,484.29
160,535.08
325,972.61
219,144.44
179,446.63
140,329.56
124,705.82
207,061.27
349,175.98
217,177.77
268,556.02
206,776.23
93,475.39
130,179.24
156,400.81
78,246.02
141,426.50
381,766.08
260,142.30
256,724.30
400,293.22
85,265.55
192,296.02
164,868.76
127,966.47
125,937.38
235,138.26
390,752.45
282,123.66
399,768.74
505,731.98
406,147.27
92,023.70
381,375.53
146,541.22
297,809.08
222,761.05
413,538.11
284,344.00
267,056.09
232,095.24
142,384.09
220,502.49
190,033.31
173,135.45 427537 Ezequiel Hartline 289817 Dexter Helmuth 225035 Sena Hemmings 439312 Marqueta Heng 280123 Allen Hesson 169947 Rolando Hilden 322250 Elisha Hippler 138325 Elnora Hofert 227843 Joi Holland 121326 Eugenie Hooser 404882 Ayesha Horak 148870 Jae Houge 314134 Corey Hulme 217730 Elvin Hunger 413765 Yolande Huntzinger 238807 Claud Innes 335211 Dean Jasmin 314553 Pierre Jordan 111213 Craig Koepp 198302 Sal Kovacs 397996 Gayle Krell 176414 Coleman Krueger 324247 Buck Kush 203958 Dalton Lamere 389880 Jacki Lank 273237 Francisco Laplaca 393107 Hilton Laurie 149289 Augustus Lawton 425540 Alden Learned 382994 Britaney Ledet 265932 Nathanial Leer 349794 Tomi Lefevre 372449 Nicky Lefew 238388 Royce Leib 432426 Jaime Leicht 358677 Timothy Leland 391110 Eura Lessman 260276 Arthur Logan 317361 Don Lozier 218960 Mitch Mace 282931 Laurice Macintosh 124985 Edgar Manry 434423 Kum Marable 145211 Asa Maring 241615 Ken Marsch 150100 Elli Martneau 293476 Vito Mathieson 280934 Art Maybee 418654 Elliot Mccasland 315364 Quincy Mccaw 444968 Rosy Mcdougal 296703 Kirk Mickelsen 342097 Helga Mifin 184530 Clint Mikula 417843 Curt Milliner 212074 Marcel Millis 204377 Maira Millsaps 406879 Lamont Minter 255387 Rogelio Mitschke 183719 Deangelo Mleczko 420651 Freddy Monica 370452 Micah Monroe 410957 Rex Morace 342908 Bret Moran 376527 Hobert Morocco 218149 Jeremiah Muir 197491 Maynard Nair 329136 Margorie Neufeld 410538 Lucinda Nicholes 344905 Della Oaks 399993 Temeka Pangburn 133101 Jerrold Paulson 155756 Gwenn Pechacek 179641 Kareem Penny 356680 Chantelle Perry 191416 Leonard Prieto 386221 Ricardo Pulido M
M
F
F
M
M
M
F
F
F
F
M
M
M
F
M
M
M
M
M
M
M
M
M
F
M
M
M
M
F
M
F
M
M
M
M
F
M
M
M
F
M
F
M
M
F
M
M
M
M
F
M
F
M
M
M
F
M
M
M
M
M
M
M
M
M
M
F
F
F
F
M
F
M
F
M
M 2/1/1962
11/28/1955
8/19/1957
4/16/1987
6/21/1987
11/13/1990
1/25/1991
5/19/1986
6/13/1985
12/12/1950
2/19/1954
9/12/1961
6/20/1973
4/15/1986
11/23/1969
7/8/1948
6/16/1968
11/7/1975
9/22/1987
5/17/1972
10/29/1975
12/3/1973
6/15/1960
5/6/1982
8/18/1986
9/17/1968
6/21/1970
9/29/1971
5/17/1962
7/8/1959
12/23/1976
6/2/1986
8/16/1976
8/3/1951
3/15/1954
5/3/1985
9/22/1956
12/8/1990
3/9/1959
11/16/1970
6/24/1984
10/6/1977
6/14/1978
9/22/1974
4/13/1956
10/18/1983
2/10/1974
5/26/1990
11/6/1972
12/8/1955
6/21/1990
6/11/1989
9/28/1973
12/10/1975
10/5/1963
3/14/1992
12/6/1975
3/12/1960
8/1/1974
4/4/1966
12/27/1966
6/19/1990
11/13/1960
8/22/1961
11/22/1964
10/30/1956
4/1/1978
5/23/1984
1/15/1991
7/21/1962
3/17/1949
11/10/1968
7/18/1948
4/28/1967
7/20/1990
8/13/1952
2/17/1989 25-Oct-02
8-Sep-77
5-Oct-86
28-Aug-09
1-Aug-09
4-Feb-14
12-Oct-12
21-Apr-08
7-Jul-12
21-Jun-72
24-Sep-79
12-Aug-89
17-Dec-95
10-Nov-08
26-Oct-92
18-Jan-78
5-Jul-00
26-Feb-98
14-Jan-09
25-Mar-94
16-Sep-00
23-Jul-95
7-May-02
23-Apr-05
26-Jul-12
19-Oct-00
12-Nov-93
8-Nov-94
8-Jan-86
26-Nov-86
21-Mar-03
9-Jan-12
11-Aug-99
10-Feb-73
17-Sep-82
12-May-07
12-Jan-78
17-Apr-14
12-Sep-81
6-Jun-92
7-Dec-06
22-Nov-13
2-Jun-01
17-Jul-08
23-Oct-00
28-May-06
15-Aug-97
12-Sep-12
5-Aug-95
5-Dec-77
13-Oct-13
15-Jun-13
23-Mar-13
11-Apr-97
10-Aug-85
18-Apr-12
8-Jul-98
18-Oct-83
15-Apr-13
6-Mar-12
15-Jun-90
16-Dec-13
4-Aug-82
5-May-83
28-Apr-06
15-Apr-78
23-May-03
20-Dec-14
14-Sep-14
10-Jan-85
23-May-74
15-Jul-90
24-Oct-73
4-Apr-90
14-Sep-12
8-Nov-75
20-Jan-11 $
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$ 209,204
221,861
204,780
35,264
44,023
94,734
35,973
88,070
34,520
165,185
71,129
54,950
73,591
71,456
239,847
131,266
89,277
185,560
41,614
44,478
39,274
91,599
266,347
125,139
64,801
148,651
135,219
107,906
179,997
164,706
44,830
89,600
113,337
195,799
212,495
39,127
280,836
83,037
84,730
58,619
97,066
167,859
36,388
194,049
237,374
56,057
263,517
77,393
53,727
129,854
72,644
127,882
156,737
124,629
205,571
89,616
314,572
98,042
42,981
97,689
194,138
43,093
121,707
184,404
149,494
378,435
145,427
113,393
102,747
161,255
83,176
175,211
226,477
98,955
102,831
274,468
97,337 65
63
61
64
60
61
66
62
64
66
63
60
60
62
62
68
62
66
65
66
64
66
61
64
64
64
61
64
66
63
61
61
65
65
64
65
66
61
63
63
63
62
66
65
62
63
64
60
63
66
63
66
63
63
66
60
63
62
65
64
62
62
64
65
64
63
62
66
65
65
67
66
69
64
63
65
62 7
3
9
8
7
5
4
10
3
8
4
6
6
8
10
5
10
3
4
10
8
5
10
9
3
6
5
8
8
9
6
10
3
7
9
9
4
10
6
9
5
6
6
5
3
7
10
5
7
8
5
4
9
3
10
9
5
3
7
10
8
3
4
8
10
8
9
10
5
4
9
4
7
9
4
6
4 79
75
85
86
81
79
78
88
81
84
80
78
80
82
86
77
82
77
78
84
82
79
82
83
81
78
79
82
80
85
80
88
77
79
81
83
80
84
78
83
83
80
84
79
75
85
84
79
81
80
83
78
87
77
82
83
83
75
81
82
80
77
76
80
82
80
83
88
83
80
85
76
83
81
82
78
78 322,223.13
249,706.51
230,481.96
150,271.33
161,763.75
327,802.46
188,226.36
285,600.16
142,133.24
175,244.66
77,724.86
67,581.57
144,042.26
240,211.02
411,430.68
139,260.10
158,263.38
442,182.39
172,954.04
120,414.62
112,231.03
221,787.96
327,573.21
367,243.28
232,809.88
268,068.38
238,496.40
230,736.95
287,261.61
208,644.66
118,475.88
282,648.60
281,754.23
207,723.16
239,164.99
158,400.94
355,754.14
292,884.27
107,333.43
117,788.77
302,451.20
381,459.47
133,324.00
436,295.51
267,166.53
189,351.00
545,022.47
269,306.45
129,948.05
159,704.04
275,064.87
489,670.59
330,324.80
283,345.10
335,272.92
320,549.80
532,501.89
124,196.67
119,992.67
171,762.17
308,651.14
177,501.64
178,564.03
277,916.01
241,123.09
438,709.88
343,626.60
373,644.13
415,575.50
251,807.88
88,241.29
346,450.56
247,478.01
178,557.54
370,669.44
299,918.59
335,573.01 424310 Ward Puryear 225846 Coleman Rankin 231502 Denese Rentro 253390 Merlin Ribeiro 114440 Emerson Rickel 112443 Asa Rodd 141984 Carmelita Rosborough 214071 Danyelle Russi 303589 Sarita Salmons 211263 Dalton Salomone 183300 Sang Sancho 156986 Senaida Santana 379335 Sonia Schimmel 276045 Hugo Schlenker 143214 Jordan Schoenfeld 131871 Laurena Selke 300362 Truman Sessions 301592 Geraldo Sharman 158983 Rosella Slaubaugh 119329 Timmy Song 396766 Kirby Soria 232732 Toney Springer 376108 Russ Stall 269159 Tania Stephens 231921 Dede Sugg 118518 Mack Swayne 328325 Skye Tadlock 445387 Antony Tarr 384224 Eboni Tellez 287820 Camille Teston 300781 Thersa Tiedemann 142403 Jennifer Tindle 369222 Bryant Tiner 239618 Emile Toledo 220957 Scot Urbano 431196 Denis Valade 307667 Alberto Valazquez 365563 Dwain Vanderwal 245693 Tyron Vella 210844 Crissy Vigil 451854 Huey Wedding 245274 Amada Weisman 259046 Clyde Wemple 438082 Thomas Winders 321439 Erwin Windley 377338 Regine Witzel 267162 Christan Wolfgram 327906 Adrienne Wooten 152097 Pierre Yadon 128212 Carlos Ying 200299 Emmit Yingst M
M
F
M
M
M
F
F
F
M
M
F
F
M
M
F
M
M
F
M
M
M
M
F
F
M
F
M
F
F
F
F
M
M
M
M
M
M
M
F
M
F
M
M
M
F
M
F
M
M
M 10/28/1965
8/25/1958
1/19/1967
10/1/1990
7/24/1964
5/21/1988
8/18/1975
4/18/1977
10/20/1980
4/1/1954
9/21/1986
5/8/1959
11/29/1963
10/16/1967
2/13/1993
2/5/1952
9/4/1985
10/5/1967
2/8/1950
1/6/1977
1/4/1985
3/2/1960
3/2/1950
2/15/1987
3/26/1966
6/23/1989
7/26/1948
2/26/1949
4/14/1962
5/6/1977
5/15/1967
4/27/1976
10/12/1978
11/26/1987
6/7/1988
4/25/1951
2/9/1991
2/12/1982
7/9/1954
12/22/1992
8/10/1953
12/6/1981
9/12/1967
1/31/1983
9/17/1967
5/31/1976
6/26/1950
3/5/1980
11/7/1959
5/9/1980
10/30/1955 28-Feb-03
9-Nov-80
3-Dec-90
12-Dec-12
2-Aug-94
6-Apr-13
20-Dec-00
10-May-04
25-Aug-02
13-Nov-76
13-Nov-08
24-May-81
15-Sep-90
15-Jun-89
23-Nov-12
17-Jun-83
27-Jan-09
11-Jul-90
4-Oct-74
5-Dec-99
2-Oct-12
19-Sep-92
9-Apr-78
18-Aug-10
3-Jul-89
28-Sep-11
9-Sep-71
17-Nov-78
3-Sep-86
8-Sep-00
6-Feb-96
22-Nov-98
5-Feb-10
21-Sep-09
24-Feb-12
28-Feb-74
10-Mar-13
5-Jun-13
28-Mar-79
3-Feb-14
10-Jan-79
18-May-04
6-Apr-93
23-Jun-14
16-Jun-12
21-Mar-12
7-Apr-75
14-Feb-03
13-Oct-93
3-Aug-04
13-Mar-81 $
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$ 75,531
113,895
35,563
122,027
84,840
124,536
157,265
63,625
31,791
246,671
98,484
292,946
123,618
191,761
42,279
353,421
148,091
42,146
313,042
132,948
37,834
76,617
185,613
33,952
81,670
111,217
96,267
145,589
158,517
142,842
48,484
97,828
174,664
41,104
35,264
341,274
41,003
39,412
108,632
45,894
437,553
33,458
240,786
41,891
77,572
92,071
197,180
57,698
255,451
161,725
137,345 61
62
63
66
61
61
65
64
65
63
65
65
61
66
62
63
64
65
68
65
64
61
66
66
62
65
70
67
63
62
60
61
60
61
63
65
61
66
63
64
62
65
63
60
64
63
68
65
63
65
63 10
10
4
4
3
10
9
9
8
9
7
5
10
5
10
7
4
7
5
9
5
7
7
6
6
4
5
6
10
4
7
4
10
10
6
5
10
6
5
5
10
3
10
10
4
4
7
9
8
10
5 82
82
80
78
75
84
87
87
86
81
81
81
86
77
84
83
78
79
81
83
79
79
79
84
82
78
81
78
86
82
83
82
84
84
80
77
84
80
77
83
82
81
82
84
76
82
79
87
80
84
77 122,689.15
135,996.59
72,068.82
482,298.34
132,438.40
395,427.17
369,157.06
171,330.49
124,479.00
269,544.06
338,997.06
408,695.17
181,132.63
351,254.07
202,053.17
364,023.82
461,707.70
86,750.74
352,331.44
325,315.93
148,358.90
94,229.25
196,916.83
152,527.22
138,533.75
422,794.06
108,349.56
154,455.37
234,425.26
329,080.18
86,200.59
223,071.31
385,055.95
157,292.24
150,271.03
362,057.59
171,075.35
152,669.85
118,705.12
218,824.35
450,679.59
131,158.30
401,390.84
128,718.89
143,214.70
222,776.73
221,927.83
189,248.79
323,597.68
449,325.49
154,583.01 The company invests plan assets in a diversified equites fund with JP Morgan Chase. The fund performance for the past ten years is listed below. Assume there were no accumulated
gains or losses prior to 2005. All contributons are made at the end of the calendar year, so returns generated by the fund are based on the beginning balance of each period.
Year-End
12/31/2005
12/31/2006
12/31/2007
12/31/2008
12/31/2009
12/31/2010
12/31/2011
12/31/2012
12/31/2013
12/31/2014 Beginning Balance
$
$
$
$
$
$
$
$
$
$ 55,520,201.33
58,722,741.26
68,579,651.63
73,487,277.57
47,059,290.25
51,636,716.90
59,819,206.49
61,601,450.30
72,048,867.20
88,720,194.98 Return on Plan Assets
$
$
$
$
$
$
$
$
$
$ 2,681,625.72
9,166,619.91
3,758,164.91
(26,859,599.95)
4,235,336.12
7,652,561.45
1,256,203.34
9,788,470.45
15,958,824.08
11,959,482.28 Contributions
$
$
$
$
$
$
$
$
$
$ 1,577,554.49
1,642,611.51
2,052,786.44
1,655,355.73
967,857.14
1,134,055.71
1,454,796.83
1,347,085.47
1,572,771.25
2,133,423.47 Disbursements
$
$
$
$
$
$
$
$
$
$ (1,056,640.28)
(952,321.05)
(903,325.40)
(1,223,743.10)
(625,766.61)
(604,127.57)
(928,756.35)
(688,139.02)
(860,267.56)
(1,127,474.30) Ending Balance
$
$
$
$
$
$
$
$
$
$ 58,722,741.26
68,579,651.63
73,487,277.57
47,059,290.25
51,636,716.90
59,819,206.49
61,601,450.30
72,048,867.20
88,720,194.98
101,685,626.43 Expected Return
Percentage Gain (Loss) 9.94%
10.15%
7.99%
11.80%
11.40%
10.02%
11.15%
10.72%
10.32%
9.20% $ (2,318,111.86)
$ 3,895,797.41
$
(574,835.38)
$ (35,099,498.65)
$
(787,332.44)
$ 3,005,972.03
$ (4,887,597.71)
$ 3,844,588.23
$ 9,238,671.07
$ 4,803,173.51 Accumulated performance gain (loss) $ (18,879,173.79)
Loss amortization to date $ 2,412,795.05
Accumulated gain (loss) currently in AOCI $ (16,466,378.74)