Robin Co. has a defined benefit pension plan that has experienced differences between its expected and actual projected benefit obligation. Data on the plan as of January 1, 2016, follow:
Unrecognized net gain$ 98,000
Fair value of plan assets250,000
Projected benefit obligation380,000
There was no difference between the company's expected and actual return on plan assets during 2016. The average remaining service life of the company's employees is 12 years.Required:Determine the amount of the net gain or loss to be included in pension expense for 2016 and indicate whether it is an increase or decrease in the pension expense calculation.
What will be an ideal response?
?
| Unrecognized net gain at January 1, 2016 | $98,000 |
| Corridor (10% × $380,000) | (38,000) |
| Excess gain | $60,000 |
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