Pensions

Question 0

Pension plan liability

Answer 0

FV plan assets < PBO
current, NC, or both
Underfunded

Question 1

Pension plan asset

Answer 1

FV plan assets > PBO
always NC
overfunded

Question 2

Funded status (pension plan) 
BS presentation

Answer 2

FV plan assets
(PBO)
———–
Funded status - over/under

Question 3

Funded status (post retirement benefits)
BS presentation

Answer 3

FV plan assets
(APBO)
————-
Funded status

Question 4

Post retirement benefit plan asset

Answer 4

FV plan assets > APBO
non current
Overfunded

Question 5

Postretirement benefit plan liability

Answer 5

FV plan assets < APBO
current, NC, or both
Underfunded

Question 6

Calculate projected benefit obligation (BS)

Answer 6

Beg
\+ service cost
\+ int cost
\+ prior service cost from current plan amendments
\+ actuarial losses incurred in current pd
(Actuarial gains incurred in current pd)
(Benefits pd)
---------------
End

Question 7

Calculate actual return on plan assets

Answer 7

Beg
\+ contrib
\+ actual return on plan assets (squeeze)
(Benefits pd)
------------ 
End

Question 8

US GAAP net pension exp (IS)

Answer 8

SIR AGE

Current service cost
Int cost
(Return on plan assets)
Am of prior service cost
(Gains) and losses
Am of existing net oblig or net asset

Question 9

SIR AGE - int cost

Answer 9

Beg of pd PBO

* disc rate

Question 10

SIR AGE - return on plan assets

Answer 10

1. Actual return
Or
2. Expected return
    Beg FV of plan assets
    * exp rate of return

Question 11

SIR AGE - Am of unrecognized prior service cost

Answer 11

Beg unrecognized prior service cost/avg remaining service lift

Question 12

Accumulated benefit obligation (ABO)

Answer 12

Use current salary

Question 13

Projected benefit obligation (PBO)

Answer 13

Use (guess) future salary