RAI » Topics » Retirement Benefits

This excerpt taken from the RAI DEF 14A filed Mar 23, 2009.
Retirement Benefits
 
The following table sets forth information concerning each plan that provides the named executive officers with payments or other benefits at, following, or in connection with retirement.
 
Retirement Benefits
 
Due to the adverse changes in the financial markets, RAI’s pension assets have been negatively impacted. In 2008, the overall rate of return on the investments for the pension assets was approximately negative 30.1%. RAI assessed the asset allocation and investment strategy and will phase in appropriate changes to balance funded status, interest rate risk and asset returns. Once fully implemented, these changes will reduce the pension fund’s exposure to equities and increase exposure to fixed income and alternatives. As a result of changes to the asset allocation and investment strategy, RAI lowered the expected long-term return on pension assets, referred to as the ELTRA, to 8.25%, beginning in 2009, from 8.74% . The ELTRA, asset allocation, current asset performance and the discount rate may impact the funded status of RAI’s pension plans, and as a result RAI will contribute a minimum of $50 million to the pension assets in 2009 and pension expense will increase approximately $180 million in 2009.
 
Retirement
Benefits



 



Due to the adverse changes in the financial markets, RAI’s
pension assets have been negatively impacted. In 2008, the
overall rate of return on the investments for the pension assets
was approximately negative 30.1%. RAI assessed the asset
allocation and investment strategy and will phase in appropriate
changes to balance funded status, interest rate risk and asset
returns. Once fully implemented, these changes will reduce the
pension fund’s exposure to equities and increase exposure
to fixed income and alternatives. As a result of changes to the
asset allocation and investment strategy, RAI lowered the
expected long-term return on pension assets, referred to as the
ELTRA, to 8.25%, beginning in 2009, from 8.74% . The ELTRA,
asset allocation, current asset performance and the discount
rate may impact the funded status of RAI’s pension plans,
and as a result RAI will contribute a minimum of
$50 million to the pension assets in 2009 and pension
expense will increase approximately $180 million in 2009.


 




This excerpt taken from the RAI DEF 14A filed Mar 24, 2008.
Retirement Benefits
 
The following table sets forth information concerning each plan that provides the named executive officers with payments or other benefits at, following, or in connection with retirement.
 
Retirement Benefits
 
The following table sets forth information concerning each plan that provides the named executive officers with payments or other benefits at, following or in connection with retirement.
 
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