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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 Net loss-AOCI 2021
The following information pertains to Foundry Inc.'s defined benefit pension plan: ($ in thousands) Projected benefit obligation Plan assets Prior service cost-AOCI Net loss-AOCI 2021 Beginning balances $ (6,800) 6,500 6B0 $ 800 2022 Beginning balances $(7,304) 7,136 660 $ 880 At the end of 2021, Foundry contributed $690 thousand to the pension fund and benefit payments of $674 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 $498 thousand None of these are correct.
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