Archer Daniels Midland 2007 Annual Report Download - page 75
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67
Archer Daniels Midland Company
Notes to Consolidated Financial Statements (Continued)
Note 13. Employee Benefit Plans (Continued)
External consultants monitor the investment strategy and asset mix for the Company’s plan assets. To develop
the Company’s expected long-term rate of return assumption on plan assets, the Company generally uses long-
term historical return information for the targeted asset mix identified in asset and liability studies. Adjustments
are made to the expected long-term rate of return assumption when deemed necessary based upon revised
expectations of future investment performance of the overall investment markets. The expected long-term rate
of return assumption used in computing 2007 net periodic pension cost for the pension plans was 7.2%.
Contributions and Expected Future Benefit Payments
The Company expects to contribute $32 million to the pension plans and $7 million to the postretirement benefit
plan during 2008.
The following benefit payments, which reflect expected future service, are expected to be paid:
Pension
Benefits
Postretirement
Benefits
(In millions)
2008 $ 72 $ 7
2009 77 7
2010 81 8
2011 85 9
2012 91 10
2013 – 2017 534 64