Safeway 2013 Annual Report Download - page 80
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Table of Contents
The actuarial assumptions used to determine year-end projected benefit obligations for pension plans were as follows:
2012 2011
Discount rate:
United States plans 4.20%4.94%
Canadian plans
4.00%4.25%
Combined weighted-average rate
4.16%4.80%
Rate of compensation increase:
United States plans 3.00%3.00%
Canadian plans
2.75%2.75%
The actuarial assumptions used to determine net periodic benefit costs for pension plans were as follows:
2012 2011
Discount rate 4.94%5.69%
Expected return on plan assets: 7.75%8.50%
Rate of compensation increase 3.00%3.00%
The Company has adopted and implemented an investment policy for the defined benefit pension plans that incorporates a strategic long-
term asset allocation mix designed to meet the Company’s long-term pension requirements. This asset allocation policy is reviewed
annually and, on a regular basis, actual allocations are rebalanced to the prevailing targets. The following table summarizes actual allocations
for Safeway’s plans (including Canadian plans in 2012) at year-end:
Plan assets
Asset category Target 2012
Equity 65%64.3%
Fixed income 35%33.0%
Cash and other —2.7%
Total 100%100.0%
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