Computing ABO, PBO Mallard Company sponsors a pension plan with the following pension benefit: Benefit paid at each year-end during retirement =( Number of years worked x Annual salary at retirement )25 Employee Josie began work with the company and received credit for service as of January 1 of Year 1. Josie is expected to work a total of 30 years with an annual salary at retirement of $100,000. She is expected to draw 10 years of retirement benefits. The discount rate is 10%. Note: Carry all decimals in calculations; round the final answer to the nearest dollar. a. Compute the PBO on December 31 of Year 10, if Josie's current salary is $30,000. * b. Compute the ABO on December 31 of Year 10, if Josie's current salary is $30,000. x
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