SUSQ » Topics » NOTE 8. Pension and Other Postretirement Benefits

This excerpt taken from the SUSQ 10-Q filed May 9, 2008.

NOTE 8. Pension and Other Postretirement Benefits

Components of Net Periodic Benefit Cost

 

     Three months ended March 31
     Pension Benefits     Supplemental Executive
Retirement Plan
   Other Postretirement Benefits
     2008     2007     2008    2007    2008    2007

Service cost

   $ 1,019     $ 1,082     $ 29    $ 26    $ 111    $ 138

Interest cost

     1,330       1,148       59      54      121      148

Expected return on plan assets

     (2,002 )     (1,759 )     0      0      0      0

Amortization of prior service cost

     9       7       31      31      28      28

Amortization of transition obligation (asset)

     0       0       0      0      28      28

Amortization of net actuarial loss

     0       34       12      11      0      33
                                           

Net periodic benefit cost

   $ 356     $ 512     $ 131    $ 122    $ 288    $ 375
                                           

Employer Contributions

Susquehanna previously disclosed in its financial statements for the year ended December 31, 2007, that it expected to contribute $124 to its pension plans and $371 to its other postretirement benefit plan in 2008. As of March 31, 2008, $31 of contributions have been made to its pension plans, and $93 of contributions have been made to its other postretirement benefit plan. Susquehanna anticipates contributing an additional $93 to fund its pension plan in 2008 for a total of $124, and $278 to its other postretirement benefit plan for a total of $371.

This excerpt taken from the SUSQ 10-Q filed May 9, 2007.

NOTE 8. Pension and Other Postretirement Benefits

Components of Net Periodic Benefit Cost

 

     Three months ended March 31
     Pension Benefits     Supplemental Executive
Retirement Plan
   Other Postretirement Benefits
     2007     2006     2007    2006    2007    2006

Service cost

   $ 1,082     $ 917     $ 26    $ 16    $ 138    $ 96

Interest cost

     1,148       999       54      55      148      105

Expected return on plan assets

     (1,759 )     (1,468 )     0      0      0      0

Amortization of prior service cost

     7       (10 )     31      31      28      12

Amortization of transition obligation (asset)

     0       (17 )     0      0      28      28

Amortization of net actuarial (gain) or loss

     34       217       11      22      33      11
                                           

Net periodic benefit cost

   $ 512     $ 638     $ 122    $ 124    $ 375    $ 252
                                           

Employer Contributions

Susquehanna previously disclosed in its financial statements for the year ended December 31, 2006, that it expected to contribute $122 to its pension plan and $328 to its other postretirement benefit plan in 2007. As of March 31, 2007, $31 of contributions have been made to its pension plans, and $62 of contributions have been made to its other postretirement benefit plan. Susquehanna anticipates contributing an additional $91 to fund its pension plan in 2007 for a total of $122, and $266 to its other postretirement benefit plan for a total of $328.

EXCERPTS ON THIS PAGE:

10-Q
May 9, 2008
10-Q
May 9, 2007

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