Indigo Company provides the following information about its defined benefit pension plan for the year 2020. Service cost   $91,000   Contribution to the plan   104,000   Prior service cost amortization   9,400   Actual and expected return on plan assets   62,900   Benefits paid   39,900   Plan assets at January 1, 2020   630,400   Projected benefit obligation at January 1, 2020   701,800   Accumulated OCI (PSC) at January 1, 2020   153,000

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Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.