MoneyGram 2009 Annual Report Download - page 112

Table of Contents
MONEYGRAM INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Amounts recognized in other comprehensive income (loss) and net periodic benefit expense for the year ended December 31, 2009 are as
follows:
Pension and Postretirement
SERPs Benefits
Net actuarial loss $ 2,837 $ 3,086
Amortization of net actuarial loss (3,777) —
Amortization of prior service (cost) credit (346) 352
Curtailment (gain) loss
Prior service costs (2,124) 1,839
Net actuarial (gain) loss (2,577) (973)
Total recognized in other comprehensive income (loss) $ (5,987) $ 4,304
Total recognized in net periodic benefit expense (income) $ 6,738 $ (11,747)
Total recognized in net periodic benefit expense (income) and other comprehensive income (loss) $ 751 $ (7,443)
The estimated net loss and prior service cost for the defined benefit pension plan and SERPs that will be amortized from "Accumulated
other comprehensive loss" into "Net periodic benefit expense" during 2010 is $4.8 million ($3.0 million net of tax) and $0.1 million (less
than $0.1 million net of tax), respectively. For the postretirement benefit plans, there will be no costs amortized from "Accumulated other
comprehensive loss" into "Net periodic benefit expense" during 2010 as all plans are frozen.
The benefit obligation and plan assets, changes to the benefit obligation and plan assets, and the funded status of the defined benefit
pension plan and SERPs and the postretirement benefit plans as of and for the year ended December 31 are as follows:
Pension and SERPs Postretirement Benefits
(Amounts in thousands) 2009 2008 2009 2008
Change in benefit obligation:
Benefit obligation at the beginning of the year $ 207,454 $ 199,728 $ 13,416 $ 12,680
Service cost 894 1,069 572 543
Interest cost 12,659 12,678 837 822
Actuarial loss (gain) 9,352 6,280 2,018 (442)
Plan amendments (6,236) — (11,937) —
Adjustment for change in measurement date — 490 — 68
Medicare Part D reimbursements — — 3 8
Benefits paid (12,507) (12,790) (388) (263)
Benefit obligation at the end of the year $ 211,616 $ 207,455 $ 4,521 $ 13,416
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