Safeway 2012 Annual Report Download - page 90

SAFEWAY INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements
78
The following two tables contain information about Safeway's Canadian multiemployer pension plans. Since
plan level information is not publicly available for these plans, additional disclosures have been provided.
Actuarial present
value of
accumulated
benefits (in
millions)
EIN - PN
Total plan assets
(in millions)
Total plan
contributions (in
millions)
Safeway 5%
of total plan
contributionsFund status (%)
Pension fund 2011 2010 2011 2010 2011 2010 2011 2010 2011 2010
Canadian
Commercial
Workers
Industry
Pension Plan(1)
0580431 $ 1,845.5 $ 1,721.3 $2,534.5 $ 2,392.5 65-80% 65-80% $ 142.5 $ 135.3 Yes Yes
UFCW Pension
Plan (B.C.)(1) 0574467 $ 1,811.6 $ 1,434.0 $1,492.8 $ 1,448.3 80%+ 80%+ $ 51.3 $ 47.8 Yes Yes
Contributions of Safeway
(in millions)
Expiration
date of
collective
bargaining
agreements
Total
collective
bargaining
agreements
Most significant collective bargaining
agreement(s)
Pension fund 2012 2011 2010 Count Expiration % headcount(2)
Canadian Commercial
Workers Industry Pension
Plan(1) $ 22.7 $ 22.9 $ 23.0 5/5/2012 to
5/19/2018 27 11 3/22/2014 66%
UFCW Pension Plan (B.C.)(1) 19.2 19.7 17.7 3/31/2013 3 3 3/31/2013 100%
Other Canadian Funds 6.8 6.9 6.2
Total Safeway contributions to
Canadian multiemployer
pension plans $ 48.7 $ 49.5 $ 46.9
(1) Plan information is not publicly available. This plan provides monthly retirement payments on the basis of the credits earned by the
participating employees. However, in the event that the plan is underfunded, the monthly benefit amount can be reduced by the
trustees of the plan. Safeway is not responsible for the underfunded status of the plan which operates in a jurisdiction that does not
require withdrawing employers to pay a withdrawal liability or other penalty. The collective bargaining agreements require contributions
on the basis of hours worked.
(2) Employees on which Safeway may contribute under these most significant collective bargaining agreements as a percent of all
employees on which Safeway may contribute to the respective fund.
Multiemployer postretirement benefit plans other than pensions Safeway contributes to a number of
multiemployer postretirement benefit plans other than pensions under the terms of its collective bargaining
agreements that cover union-represented employees in the U.S. These plans may provide medical,
pharmacy, dental, vision, mental health and other ancillary benefits to active employees and retirees as
determined by the trustees of each plan. These benefits are not vested. A significant portion of Safeway
contributions benefit active employees and, as such, may not constitute contributions to a postretirement
benefit plan. Safeway is unable to separate all contribution amounts paid to benefit active participants in
order to separately report contributions paid to provide postretirement benefits for retirees.
Contributions made by Safeway to these plans were $748.0 million in 2011 and $704.4 million in 2010. Prior
to December 29, 2012, certain of these plans split into two plans, separating plans for active employees
from plans covering retirees. This, along with the availability of additional data in 2012, allowed for a more
precise estimate of contributions for multiemployer postretirement benefit plans other than pension. Based
on the data now available, it is estimated that Safeway may have contributed as much as $473.3 million in
2012 to fund these plans. Actual funding of postretirement benefit plans other than pensions is likely much
lower as this amount continues to include contributions which benefit active employees.