Beginning balance of plan assets at market value $1,560,000
Actual return on plan assets $210,000
Employer's contribution $150,000
Distribution to beneficiaries $75,000
Service cost $125,000
Interest cost $156,000
Changes in benefits and assumptions $35,000
Beginning balance of the PBO $1,580,000

What is the ending balance of plan assets and PBO?
How much was the pension overfunded/underfunded?

$1,845,000 and $1,971,000
Underfunded

I'm fighting the flu so my answer might be under the weather... let's wait and see what the expert says.

The $1,845,000 is correct. In the PBO you included Employers Contribution which is not part of the equation. That will affect your answer re under/over funded.

Ending PBO $1,821,000
Overfunded

Right.