Kimberly-Clark 2015 Annual Report Download - page 48
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Please find page 48 of the 2015 Kimberly-Clark 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.Note 9 . Employee Postretirement Benefits
Substantially all regular employees in the U.S. and the United Kingdom are covered by defined benefit pension plans (the "Principal Plans") and/or defined
contribution retirement plans. The information presented for the Principal Plans for 2014 and 2013 also included Canada and Puerto Rico. Certain other
subsidiarieshavedefinedbenefitpensionplansor,incertaincountries,terminationpayplanscoveringsubstantiallyallregularemployees.Thefundingpolicyfor
ourqualifieddefinedbenefitpensionplansistocontributeassetsatleastequalinamounttoregulatoryminimumrequirements.NonqualifiedU.S.plansproviding
pensionbenefitsinexcessoflimitationsimposedbytheU.S.incometaxcodearenotfunded.
Substantially all U.S. retirees and employees have access to our unfunded healthcare and life insurance benefit plans. The annual increase inthe consolidated
weighted-averagehealthcarecosttrendrateisexpectedtobe5.8percentin 2016andtodeclineto4.6percentin 2028andthereafter.Assumedhealthcarecost
trend rates affect theamounts reported forpostretirement healthcare benefit plans.A one-percentage-point changein assumed healthcaretrend rates wouldnot
haveasignificanteffectonourfinancialresults.
EffectiveJanuary2015,theU.S.pensionplanwasamendedtoincludealump-sumpensionbenefitpayoutoptionforcertainplanparticipants.Inaddition,inApril
2015,theU.S.pensionplancompletedthepurchaseofgroupannuitycontractsthattransferredtotwoinsurancecompaniesthepensionbenefitobligationstotaling
$2.5billionforapproximately21,000Kimberly-ClarkretireesintheUnitedStates.Asaresultofthesechanges,werecognizedpensionsettlement-relatedcharges
of$0.8billionaftertax($1.4billionpre-taxinother(income)andexpense,net)during2015,mostlyinthesecondquarter.In2015,wemadecashcontributions
of$410relatedtothesechangestotheU.S.plan.
44 KIMBERLY-CLARKCORPORATION - 2015 Annual Report