Stanley-morgan industries adopted a defined benefit pension plan on

Stanley-Morgan Industries adopted a defined benefit pension plan on April 12, 2013. The provisions of the plan were not made retroactive to prior years. A local bank, engaged as trustee for the plan assets, expects plan assets to earn a 10% rate of return. A consulting firm, engaged as actuary, recommends 4% as the appropriate discount rate. The service cost is $150,000 for 2013 and $280,000 for 2014. Year-end funding is $160,000 for 2013 and $170,000 for 2014. No assumptions or estimates were revised during 2013.

Stanley-Morgan Industries adopted a defined benefit pension plan on April 12, 2013. The provisions of the plan were not made retroactive to prior years. A local bank, engaged as trustee for the plan assets, expects plan assets to earn a 10% rate of return. A consulting firm, engaged as actuary, recommends 4% as the appropriate discount rate. The service cost is $150,000 for 2013 and $280,000 for 2014. Year-end funding is $160,000 for 2013 and $170,000 for 2014. No assumptions or estimates were revised during 2013.