Defined benefit obligation, 1/1/20, accounting basis, before plan amendment $295,000   Fair value of plan assets, 1/1/20 3,27,000   Current service cost 63,900   Discount rate 10%   Actual return on plan assets 8%   Contributions (funding) 78,600   Benefits paid to retirees 42,80

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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.