Safeway 2012 Annual Report Download - page 86

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SAFEWAY INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements
74
The risks of participating in U.S. multiemployer pension plans are different from single-employer pension
plans in the following aspects:
a. Assets contributed to the multiemployer plan by one employer may be used to provide benefits to
employees of other participating employers.
b. If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be
borne by the remaining participating employers.
c. If Safeway stops participating in some of its multiemployer pension plans, Safeway may be required to
pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal
liability.
The Canadian multiemployer pension plans in which Safeway participates are different from U.S.
multiemployer pension plans in that should Safeway stop participating in the Canadian multiemployer pension
plans, Safeway would not be required to pay those plans a withdrawal liability.
Safeway's participation in these plans for the annual period ended December 29, 2012 is outlined in the
following tables. All information in the tables is as of December 29 of the relevant year, or 2012, unless
otherwise stated. The “EIN-PN” column provides the Employer Identification Number ("EIN") and the Plan
Number ("PN"), if applicable. Unless otherwise noted, the most recent Pension Protection Act ("PPA") zone
status available in 2012 and 2011 is for the plan's year ending at December 31, 2012, and December 31,
2011, respectively. The zone status is based on information that Safeway received from the plan. Among
other factors, generally, plans in critical status (“red zone”) are less than 65 percent funded, plans in
endangered or seriously endangered status (“yellow zone” or “orange zone”, respectively) are less than 80
percent funded, and plans at least 80 percent funded are said to be in the “green zone.” The “FIP/RP status
pending/implemented” column indicates plans for which a funding improvement plan ("FIP") or a rehabilitation
plan ("RP") is either pending or has been implemented by the trustees of each plan. Information related to
the impact of utilization of extended amortization periods on zone status is either not available or not obtainable
without undue cost and effort. There have been no significant changes that affect the comparability of 2012,
2011 or 2010 contributions.