Star Inc. sponsors a defined benefit plan where employees vest 25% after 2 years, 50% after 4 years, and 100% after 8 year One of Star's employees currently has a salary of $50,000, has just met the 50% threshold on December 31,2020 , and is expected to retire in 15 years with a salary at that time of $80,000. The annual benefit formula is equal to 3% number of years of service x final salary. What is the present value at the employee's projected retirement date, assuming a 10-year retirement and a discount rate of 6%, under a (1) VBO, (2) ABO, and (3) PBO pension liability measurement? Select one
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