CXR » Topics » Cox Enterprises Pension and Post-retirement Benefits

These excerpts taken from the CXR 10-K filed Mar 13, 2009.

Cox Enterprises Pension and Post-retirement Benefits

Eligible Cox Radio employees participate in the funded, noncontributory defined benefit pension plan of Cox Enterprises and certain employees participate in one of two unfunded, non-qualified supplemental pension plans of Cox Enterprises. The plans call for benefits to be paid to eligible employees at retirement based primarily upon years of service with Cox Radio or affiliated companies and compensation rates during those years. Additionally, Cox Enterprises provides certain health care and life insurance benefits to substantially all retirees of Cox Enterprises and certain of its subsidiaries, including Cox Radio. Cox Enterprises uses a measurement date of December 31st for its pension and post-retirement benefit plans.

Pension expense allocated to and contributed by Cox Radio related to the plans was $6.8 million, $6.2 million and $1.1 million for the years ended December 31, 2008, 2007 and 2006, respectively. Post-retirement health care expense allocated to and contributed by Cox Radio related to the plan was $0.9 million, $0.9 million and $0.8 million for the years ended December 31, 2008, 2007 and 2006, respectively.

 

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COX  RADIO / 2008  FORM  10-K

 

 

Cox Enterprises Pension and Post-retirement Benefits

Eligible Cox Radio employees participate in the funded, noncontributory defined benefit pension plan of Cox Enterprises and certain employees participate in one of two unfunded, non-qualified supplemental pension plans of Cox Enterprises. The plans call for benefits to be paid to eligible employees at retirement based primarily upon years of service with Cox Radio or affiliated companies and compensation rates during those years. Additionally, Cox Enterprises provides certain health care and life insurance benefits to substantially all retirees of Cox Enterprises and certain of its subsidiaries, including Cox Radio. Cox Enterprises uses a measurement date of December 31st for its pension and post-retirement benefit plans.

Pension expense allocated to and contributed by Cox Radio related to the plans was $6.8 million, $6.2 million and $1.1 million for the years ended December 31, 2008, 2007 and 2006, respectively. Post-retirement health care expense allocated to and contributed by Cox Radio related to the plan was $0.9 million, $0.9 million and $0.8 million for the years ended December 31, 2008, 2007 and 2006, respectively.

 

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Table of Contents

COX  RADIO / 2008  FORM  10-K

 

 

Cox Enterprises Pension and Post-retirement Benefits

STYLE="margin-top:0px;margin-bottom:0px;padding-bottom:4px;line-height:80%; vertical-align:top">Eligible Cox Radio employees participate in the funded, noncontributory defined benefit pension plan of Cox Enterprises and
certain employees participate in one of two unfunded, non-qualified supplemental pension plans of Cox Enterprises. The plans call for benefits to be paid to eligible employees at retirement based primarily upon years of service with Cox Radio or
affiliated companies and compensation rates during those years. Additionally, Cox Enterprises provides certain health care and life insurance benefits to substantially all retirees of Cox Enterprises and certain of its subsidiaries, including Cox
Radio. Cox Enterprises uses a measurement date of December 31st for its pension and post-retirement benefit plans.

Pension expense allocated to and
contributed by Cox Radio related to the plans was $6.8 million, $6.2 million and $1.1 million for the years ended December 31, 2008, 2007 and 2006, respectively. Post-retirement health care expense allocated to and contributed by Cox Radio
related to the plan was $0.9 million, $0.9 million and $0.8 million for the years ended December 31, 2008, 2007 and 2006, respectively.

 


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Table of Contents


COX  RADIO / 2008  FORM  10-K

STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #000000"> 

 

SIZE="2">Cox Enterprises Savings and Investment Plan

In addition, substantially all of Cox Radio’s employees are eligible to participate in the
401(k) savings and investment plan of Cox Enterprises. Cox Radio offers a $0.50 match on each dollar of employee contributions up to 6%, for a maximum match of 3% of eligible wages. Cox Radio’s expense under the plan was $2.4 million for each
of the years ended December 31, 2008, 2007 and 2006.

Cox Enterprises Pension and Post-retirement Benefits

STYLE="margin-top:0px;margin-bottom:0px;padding-bottom:4px;line-height:80%; vertical-align:top">Eligible Cox Radio employees participate in the funded, noncontributory defined benefit pension plan of Cox Enterprises and
certain employees participate in one of two unfunded, non-qualified supplemental pension plans of Cox Enterprises. The plans call for benefits to be paid to eligible employees at retirement based primarily upon years of service with Cox Radio or
affiliated companies and compensation rates during those years. Additionally, Cox Enterprises provides certain health care and life insurance benefits to substantially all retirees of Cox Enterprises and certain of its subsidiaries, including Cox
Radio. Cox Enterprises uses a measurement date of December 31st for its pension and post-retirement benefit plans.

Pension expense allocated to and
contributed by Cox Radio related to the plans was $6.8 million, $6.2 million and $1.1 million for the years ended December 31, 2008, 2007 and 2006, respectively. Post-retirement health care expense allocated to and contributed by Cox Radio
related to the plan was $0.9 million, $0.9 million and $0.8 million for the years ended December 31, 2008, 2007 and 2006, respectively.

 


58







Table of Contents


COX  RADIO / 2008  FORM  10-K

STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #000000"> 

 

SIZE="2">Cox Enterprises Savings and Investment Plan

In addition, substantially all of Cox Radio’s employees are eligible to participate in the
401(k) savings and investment plan of Cox Enterprises. Cox Radio offers a $0.50 match on each dollar of employee contributions up to 6%, for a maximum match of 3% of eligible wages. Cox Radio’s expense under the plan was $2.4 million for each
of the years ended December 31, 2008, 2007 and 2006.

EXCERPTS ON THIS PAGE:

10-K (4 sections)
Mar 13, 2009
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