BB&T 2014 Annual Report Download - page 126
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Table of Contents
Net Periodic Pension Cost:
Service cost $ 138 $ 150 $ 120
Interest cost 140 120 110
Estimated return on plan assets (296) (257) (200)
Net amortization and other 17 91 76
Net periodic benefit cost (1) 104 106
Pre-Tax Amounts Recognized in OCI:
Net actuarial loss (gain) 532 (535) 270
Net amortization (17) (91) (76)
Net amount recognized in OCI 515 (626) 194
Total net periodic pension costs (income) recognized in
total comprehensive income, pre-tax $ 514 $ (522) $ 300
The following actuarial assumptions were used to determine benefit obligations:
Weighted average assumed discount rate 4.27 % 5.10 %
Assumed rate of annual compensation increases 4.50 5.00
Projected benefit obligation, beginning of year $ 2,437 $ 2,548 $ 304 $ 287
Service cost 128 139 10 11
Interest cost 124 107 16 12
Actuarial (gain) loss 607 (294) 45 2
Benefits paid (69) (63) (8) (8)
Projected benefit obligation, end of year $ 3,227 $ 2,437 $ 367 $ 304
Accumulated benefit obligation, end of year $ 2,744 $ 2,062 $ 295 $ 215
Fair value of plan assets, beginning of year $ 3,733 $ 2,952 $ — $ —
Actual return on plan assets 416 499 — —
Employer contributions 143 345 8 8
Benefits paid (69) (63) (8) (8)
Fair value of plan assets, end of year $ 4,223 $ 3,733 $ — $ —
Funded status at end of year $ 996 $ 1,296 $ (367) $ (304)
The following are the pre-tax amounts recognized in AOCI:
Prior service credit (cost) $ - $ - $ (2) $ (2)
Net actuarial loss (859) (377) (149) (117)
Net amount recognized $ (859) $ (377) $ (151) $ (119)
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Source: BB&T CORP, 10-K, February 25, 2015 Powered by Morningstar® Document Research℠
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