The projected benefit obligation was $340 million at the beginning of the year and $364 million...
The projected benefit obligation was $340 million at the
beginning of the year and $364 million at the end of the year.
Service cost for the year was $22 million. At the end of the year,
there was no prior service cost and a negligible net loss–AOCI. The
actuary’s discount rate was 5%.
What was the amount of the retiree benefits paid by the
trustee?
Homework Answers
| Amount in millions | |
| Beginning PBO | 340 |
| + Service cost 10 | 22 |
| + Interest = (5% x 340) | 17 |
| + Loss (-Gain) | 0 |
| -Ending PBO | -364 |
| Retiree benefits paid by the trustee | 15 |
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