Amtrak 2015 Annual Report Download - page 50

Download and view the complete annual report

Please find page 50 of the 2015 Amtrak annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 61

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61

National Railroad Passenger Corporation and Subsidiaries (Amtrak)
Notes to Consolidated Financial Statements (continued)
12. Postretirement Employee Benefits (continued)
48
Total Level 1 Level 2 Level 3
September 30, 2014
Agency bonds $ 581 $ — $ 581 $ —
U.S. government securities 5,418 — 5,418 —
Corporate bonds 17,599 — 17,599 —
Government bonds 277 — 277 —
Municipal bonds 4,400 — 4,400 —
Asset-backed securities 9,738 — 9,738 —
Mortgage-backed securities (government) 23,046 — 23,046 —
Mortgage-backed securities (corporate) 7,703 — 7,703 —
Total fixed income 68,762 — 68,762 —
Large cap 106,901 106,901 — —
Mid cap 20,527 20,527 — —
Small cap 1,397 1,397
Total equity securities 128,825 128,825 — —
Money market funds 5,474 — 5,474 —
Real estate investment trust 22,031 — 22,031 —
Global asset allocation funds 117,122 117,122 — —
Common/collective trust 75,792 — 75,792 —
Total fair value investments 418,006 $ 245,947 $ 172,059 $ —
Other assets* 116
Total plan assets $ 418,122
*Other assets consist of accrued interest and dividends receivable and pending broker settlements.
Rate of Return
Several factors are considered in developing the estimate for the long-term expected rate of return on plan
assets. These include historical rates of return over the past three-, five- and ten-year periods as well as
projected long-term rates of return obtained from pension investment consultants.
In the short term, there may be fluctuations of positive and negative yields year over year, but over the long
term, the return is expected to be approximately 7.25%.
Estimated Future Benefit Payments
Based upon the assumptions used to measure the pension and other postretirement benefit obligations as of
September 30, 2015, including pension and other postretirement benefits attributable to estimated future
employee service, Amtrak expects that pension benefits and other postretirement benefits to be paid over the
next ten years will be as follows (in thousands):