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[The following information applies to the questions displayed below] Actuary and trustee reports indicate the following changes in the PBO and plan assets of
[The following information applies to the questions displayed below] Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2021 Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2019 (amortization: $4 million per year) Net loss-pensions at Jan.1, 2021 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate ($ in millions) $32 million $40 million 10 years 8% PBO Beginning of 2021 $300 Service cost 48 Interest cost, 8% 24 Beginning of 2021 Return on plan assets, 7.5% (10% expected) Plan Assets $200 15 Loss (gain) on PBO (2) Cash contributions 45 Less: Retiree benefits (20) Less: Retiree benefits (20) End of 2021 $350 End of 2021 $240 Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2022 ($ in millions) PB0 Plan Assets Beginning of 2022 $350 Beginning of 2022 $240 Service cost 138 Interest cost at 8% 28 Loss (gain) on PBO Return on plan assets, 15% (10% expected) Cash contributions 36 30 Less: Retiree benefits (16) Less: Retiree benefits (16) End of 2022 $405 End of 2022 $290
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