Match each term with the appropriate definition

a) Net Pension Cost

b) Actuarial gains and losses

c) Prior Service Cost

d) Funded pension plan

e) Defined benefit plan

f) Projected benefit obligation

g) Return Component

h) Service Cost

i) Settlement Rate

j) Vested benefit obligation

[ Choose ] Cost of future pension benefits earned by employees during the current accounting period Unexpected changes in the projected benefit obligation This arises when a defined benefit plan is initiated and retroactive credit is given to employees for services provided before the plan began. Present value of the employee's benefits not contingent on remaining an employee Offers guaranteed retirement benefits for employees The growth in plan assets over the accounting period excluding contributions to the plan and pension distributions made to employees The amount reported as pension expense in the income statement Actuarial present value of all future pension benefits, earned to date, utilizing future compensation levels The employer sets funds aside for future pension benefits by making payments to an agency such as a financial institution The interest rate used by the actuary to adjust for the time value of money