What is the pension expense for the following plan? "The plan requires the company to contribute $500 for each of its 1,000 employees.The plan hopes to accumulate enough funds so that retirees receive $20,000 in the future; the company has no obligation to guarantee the investment returns."

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The pension expense is the total amount the company is required to contribute to the plan in the current period. In this case, the company is required to contribute $500 per employee, and there are 1,000 employees, so the total required contribution is $500,000. The $20,000 per retiree is a future pension liability but does not impact the current period's pension expense.

What Is the Pension Expense for the Following Plan? "The