Problem
1. What do the following actuarial terms mean: accumulated benefits, actuarial liability, vested benefits, service cost, and unfunded accumulated benefits? How are they measured? How are projected benefit obligations, accumulated benefit obligations, and vested benefit obligations defined in SFAS No. 87, and how are they actuarially calculated?
2. Why is there a pension accounting problem with defined benefit pension plans, but not with defined contribution plans?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.