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Simplify the expression.
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Projected Benefit Obligation
An estimate of the total amount of benefits, both vested and non-vested, that a company expects to provide to employees in pension plans.
Prior Service Cost
The cost of additional benefits granted to employees in a pension plan amendment, attributed to employee service in prior periods.
Actuarially Determined
Usually pertaining to pension schemes, insurance, or finance, calculated based on actuarial methods and assumptions about future events.
Pension Expense
the cost recognized by an employer for the benefits provided to employees' post-retirement, calculated based on projected obligations and plan assets.
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