DTE Energy 2012 Annual Report Download - page 99
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Table of Contents
$3,881
Projected benefit obligation, beginning of year
$3,785
Service cost
69
Interest cost
202
Actuarial loss
355
Special termination benefits
2
Benefits paid
(218)
Projected benefit obligation, end of year
$4,195
Plan assets at fair value, beginning of year
$2,913
Actual return on plan assets
(18)
Company contributions
209
Benefits paid
(218)
Plan assets at fair value, end of year
$2,886
Funded status of the plans
$(1,309)
Amount recorded as:
Current liabilities
$(11)
Noncurrent liabilities
(1,298)
$(1,309)
Net actuarial loss
$202
Prior service (credit)
(3)
$199
Net actuarial loss
$2,201
Prior service cost
7
$2,208
At December 31, 2012, the benefits related to the Company’s qualified and nonqualified pension plans expected to be paid in each of the next five years
and in the aggregate for the five fiscal years thereafter are as follows:
2013 $ 236
2014 242
2015 252
2016 260
2017 269
2018-2022 1,485
$2,744
Assumptions used in determining the projected benefit obligation and net pension costs are listed below:
Discount rate
5.00%
5.50%
Rate of compensation increase
4.20%
4.00%
Discount rate
5.50%
5.90%
Rate of compensation increase
4.00%
4.00%
Expected long-term rate of return on plan assets
8.50%
8.75%
97