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The following information pertains to Foundry Inc.'s defined benefit pension plan: ($ in thousands) Projected benefit obligation Plan assets Prior service cost-AOCI 2021 Beginning balances
The following information pertains to Foundry Inc.'s defined benefit pension plan: ($ in thousands) Projected benefit obligation Plan assets Prior service cost-AOCI 2021 Beginning balances $(6,100) 5,800 610 2022 Beginning balances $(6,604) 6,436 575 Net loss-AOCI $ 730 $ 816 At the end of 2021, Foundry contributed $715 thousand to the pension fund and benefit payments of $624 thousand were made to retirees. The expected rate of return on plan assets was 11%, and the actuary's discount rate is 8%. There were no changes in actuarial estimates and assumptions regarding the PBO. What is the 2021 pension expense for Foundry's plan? Multiple Choice $625 thousand. None of these are correct. $532 thousand. $603 thousand
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