[jenmil1013]

I have been give accumulate postretirement benefit obligation, actual and expected return on plan asets, unrecognized prior service cost amortization, discount rate and service cost. The organization is looking to switch to a defined contribution from a defined benefit plan. Under the defined contribution plan the employer would contribute 3% of payroll. I need to compute a new post-employment benefit expens and illustrate with schedules and notes. I am extremely confused and don't even know where to start. Please Help! :confused:

[ROLCAM]

These terms are better understood in a
Life Insurance context.
Definite benefit in Life Insurance is a specific
Amount usually called THE AMOUNT OF
SUM ASSURED PAYABLE.
Definite contribution in Life Insurance is a
Specific contribution payable to achieve the result.

On the change your employer needs to know
Now what type of expenses would you be committed for after you retire.

It would be prudent for them to know this information so that their actuary can calculate the total contribution to attain the required benefit.
They are prepared to fund this for you, they are also contributing the amount of 3% of your wages towards this.
They need to now get an assessment of what is needed as a balance percentage payable by you.
You are in a better position to know these facts other then them.
I would divulge what your commitment expenses are NOW and adjust them according to circumstances in the future which would be
Closer to your retirement.

Good luck.