Pension data for a company include the following:

	($ in thousands)
Discount rate, 7%
Expected return on plan assets, 11%
Actual return on plan assets, 10%
Service cost, current year	$ 470
January 1, current year:
Projected benefit obligation	3,100
Accumulated benefit obligation	2,800
Plan assets (fair value)	3,200
Prior service cost AOCI (current year amortization, $45)	405
Net gain AOCI (current year amortization, $12)	490
There were no changes in actuarial assumptions.
December 31, current year:
Cash contributions to pension fund, December 31, current year	405
Benefit payments to retirees, December 31, current year	430

Required:

Determine pension expense for the current year.

Prepare the journal entries to record (a) pension expense, (b) gains and losses (if any), (c) funding, and (d) retiree benefits for the current year.