equal to: 1.5% actual service years x final year's expected salary Aaron Jones was hired at the end of 2005/beginning of 2006 and is expected to retire at the end of 2050 . His retirement is expected to span 18 years, and retirement payments are to be made at the end of each year of retirement. At the end of 2020 , his salary is $80,000. The actuary projects his salary to be $250,000 at retirement. The actuary's discount rate is 7%. 1) At the end of 2020, Aaron has worked 15 years, and has 30 years left untill retirement. What is EPE's projected benefit obligation (PBO) at the end of 2020 with respect to Aaron? A) $79,535. B) $74,332. C) $167,405. D) $23,786. 2) At the beginning of 2021 , the pension formula was amended to: 1.65% actual service years x final year's expected salary What are the prior service costs associated with this plan amendment? A) $5,550. B) $5,451. C) $4,955. D) $7,434