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F-37
CITIZENS COMMUNICATIONS COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements
The plan’s weighted average asset allocations at December 31, 2005 and 2004 by asset category are as
follows:
2005 2004
Asset category:
Equity securities . . . . . . . . . . . . . . . . . . . . . . . . . . 50% 57%
Debt securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34% 32%
Alternative investments . . . . . . . . . . . . . . . . . . . . 13% 8%
Cash and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3% 3%
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100% 100%
The plan’s expected benefit payments by year are as follows:
Year Amount
($ in thousands)
2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 55,350
2007 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57,171
2008 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58,523
2009 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61,394
2010 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62,006
2011 - 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 319,075
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 613,519
Our required contribution to the plan in 2006 is $0.
The accumulated benefit obligation for the plan was $820,475,000 and $781,202,000 at December 31, 2005 and
2004, respectively.
Assumptions used in the computation of pension and postretirement benefits other than pension costs/year-end
benefit obligations were as follows:
2005 2004
Discount rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.00%/5.625% 6.25%/6.00%
Expected long-term rate of return on plan assets . . . . 8.25%/8.25% 8.25%/8.25%
Rate of increase in compensation levels. . . . . . . . . . . 4.0%/4.0% 4.0%/4.0%