Data pertaining to the postretirement health care benefit plan of Sterling Properties include the following for 2024:
($ in thousands)
Service cost $ 144
Accumulated postretirement benefit obligation, January 1 1,100
Plan assets (fair value), January 1 70
Prior service cost-AOCI none
Net gain-AOCI (2024 amortization, $3) 104
Retiree benefits paid (end of year) 92
Contribution to health care benefit fund (end of year) 220
Discount rate, 6%
Return on plan assets (actual and expected), 10%
Required:
1. Determine the postretirement benefit expense for 2024
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Determine the postretirement benefit expense for 2024.
Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000 should be
entered as 10).
($ in thousands)