Answer: $69 million
Explanation:
Retiree benefits paid = PBO Beginning balance + Service cost + Interest cost + loss on PBO - PBO Ending balance
Retiree benefits paid = (Beginning balance of plan - Net Pension Asset) + Service cost + Interest cost + loss on PBO - PBO Ending balance
= 468 - 80 + 103 + 43 + 83 - 548
= $69 million