text: In December 2002, the plan was amended to reduce benefit accruals for future service by plan participants by approximately 50 percent. This amendment 
  caused a reduction in the PBO of approximately $616,000, and is reflected as a reduction in pension expense over the estimated employee service lives. 
  
  The changes in the fair value of plan assets, funded status of the plan and the status of the prepaid pension benefit recognized, which is included in the 
  Company’s balance sheets as of December 31, 2003 and 2002 are as follows (in thousands): 