The projected benefit obligation was $480 million at the beginning of the year and $515 million...
The projected benefit obligation was $480 million at the beginning of the year and $515 million at the end of the year. At the end of the year, pension benefits paid by the trustee were $22 million and there were no pension-related other comprehensive income accounts requiring amortization. The actuary’s discount rate was 5%. What was the amount of the service cost for the year?
Homework Answers
| PBO at the end | 515 |
| +pension benefit paid | 22 |
| - PBO at the beginning | (480) |
| - interest cost (480*5%) | (24) |
| Service cost | 33 million |
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The projected benefit obligation was $480 million at the
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