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Business, 20.08.2020 21:01 MrSavannahCat

In 1998, Westinghouse Electric Corporation decided to shed its industrial products businesses and to merge with CBS, the broadcasting company. It had an obligation to its senior executives, whom would be retiring, to fund its defined benefit pension plan with a sufficient amount to meet its future commitments. Based on the age and salaries of its retiring executives, the company estimated future payments of -

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