GE 2005 Annual Report Download - page 95

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(95)
PROJECTED BENEFIT OBLIGATION
Principal pension plans Other pension plans
(In millions) 2005 2004 2005 2004
Balance at January 1 $ 39,969 $ 37,827 $7,122
$4,761
Service cost for benefits earned 1,359 1,178 259 258
Interest cost on benefit obligations 2,248 2,199 361 312
Participant contributions 174 163 36 31
Plan amendments
–
3 15
Actuarial loss(a) 1,988 969 909 363
Benefits paid (2,407) (2,367) (256) (226)
Acquired plans
–
54 1,170
Exchange rate adjustments and other
–
(391) 438
Balance at December 31(b) $ 43,331 $ 39,969 $8,097
$7,122
(a) Principally associated with discount rate changes.
(b) The PBO for the GE Supplementary Pension Plan was $3,534 million and $3,266 million at year-end 2005 and 2004, respectively.
ABO balances for our pension plans follow.
ACCUMULATED BENEFIT OBLIGATION
December 31 (In millions) 2005 2004
GE Pension Plan $ 38,044 $ 35,296
GE Supplementary Pension Plan 2,178 1,916
Other pension plans 7,194 6,320
Following is information about our pension plans in which the accumulated benefit obligation exceeds the fair value
of plan assets.
PLANS WITH ASSETS LESS THAN ABO
December 31 (In millions) 2005 2004
Funded plans with assets less than ABO:
Plan assets $4,737
$3,943
Accumulated benefit obligations 6,096 5,075
Projected benefit obligations 6,967 5,825
Unfunded plans covered by book reserves:(a)
Accrued pension liability 3,323 2,880
Accumulated benefit obligations 2,859 2,564
Projected benefit obligations 4,235 3,931
(a) Primarily related to the GE Supplementary Pension Plan.
Pension plan assets are described below.