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NDAQ » Topics » 1. Pension Plan

This excerpt taken from the NDAQ 8-K filed Aug 1, 2008.

1. Pension Plan

The Company participates in a trusteed noncontributory pension plan and a postretirement benefit plan covering substantially all employees of the Parent and its subsidiaries. The Company provides defined benefits which are generally a function of years of service and based on an employee’s average pay over the employee’s career with the Company.

The Exchange’s net periodic pension cost and other postretirement benefits costs include the following components:

 

     Pension benefits     Postretirement benefits
     2008     2007     2008    2007
     (Dollars in thousands)

Service cost

    $ 443     $ 457     $ 146    $ 174

Interest cost

      438       380       161      137

Expected return on plan assets

      (541 )     (515 )     —        —  

Amortization of transition obligation

      —         —         —        4

Amortization of prior service cost

      12       21       4      —  

Amortization of net losses

      —         —         51      45
                             

Net periodic benefit cost

    $ 352     $ 343     $ 362    $ 360
                             

(Continued)

 

19

NOTE M - EMPLOYEE BENEFITS - Continued

 

This excerpt taken from the NDAQ 8-K filed Feb 20, 2008.

18. Pension plan

PHLX funds its pension plan subject to the full funding limitation of the Employee Retirement Income Security Act of 1974. PHLX follows SFAS No. 132R (revised), Employee’s Disclosures about Pensions and Other Postretirement Benefits.

EXCERPTS ON THIS PAGE:

8-K
Aug 1, 2008
8-K
Feb 20, 2008

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