Asus 2011 Annual Report Download - page 175

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171
~43~
(16) Pension
A. Because of the spin-off, except for a few foreign employees, the Company had settled its
financial obligation to employees under the pension plan accounted for based on SFAS No. 18
as of December 31, 2007. Thereafter, the Company is subject to the Labor Pension Act.
B. The Company obtained approval from the Labor Affairs Bureau, Taipei, for the suspension of
the monthly contributions to the pension funds for foreign employees under the Labor
Standards Law.
C. The pension cost for the years ended December 31, 2011 and 2010 consisted of the following:
D. The reconciliation between the funded status and accrued pension liability as of December 31,
2011 and 2010 are summarized as follows:
The related assumptions used for the actuarial valuation are as follows:
2011/1/1~12/31 2010/1/1~12/31
Defined benefit pension plan 56,535$ 5,029$
Defined contribution pension plan 463,374 708,434
(including annuity)
2011/1/1~12/31 2010/1/1~12/31
Benefit obligation:
Vested benefit obligation
11,831)
($
10,791)
($
Non-vested benefit obligation 95,450)( 83,519)(
Accumulated benefit obligation
107,281)
(
94,310)
(
Additional benefits based on future salary increases 41,195)( 37,565)(
Projected benefit obligation
148,476)
(
131,875)
(
Fair value of plan assets 210,489 193,576
Funded status
62,013
61,701
Unrecognized transition obligation
10,041)
(
468
Unrecognized net pension gain 36,619)( 49,067)(
15,353$ 13,102$
Prepaid pension cost
35,552
$
33,212
$
Accrued pension liability 20,199)( 20,110)(
15,353$ 13,102$
2011/1/1~12/31 2010/1/1~12/31
Discount rate
1.70%~2.00% 2.00%~2.25%
Future salary increase rate 2.00%~4.00% 2.25%~3.00%
Expected return rate on plan assets
1.70%~2.50% 2.00%