The Projected Benefit Obligation

The projected benefit obligation:

A) contains periodic service cost, accrued interest, revised estimates, plan amendments, and the payment of benefits.
B) is the pension benefit obligation that is not contingent upon an employee's continuing service.
C) is the discounted present value of retirement benefits calculated by applying the pension formula with no attempt to forecast what salaries will be when the formula actually is applied.
D) is the present value of retirement benefits calculated by applying the pension formula in which the actuary includes projected salaries in the pension formula.