Motorola 2008 Annual Report Download - page 118
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Within the equity securities asset class, the investment policy provides for investments in a broad range of
publicly-traded securities including both domestic and international stocks. Within the fixed income securities asset
class, the investment policy provides for investments in a broad range of publicly-traded debt securities ranging
from U.S. Treasury issues, corporate debt securities, mortgage and asset-backed securities, as well as international
debt securities. In the cash and other investments asset class, investments may be in cash, cash equivalents or
insurance contracts.
The Company expects to make cash contributions of approximately $180 million to its U.S. pension plans and
approximately $50 million to its non-U.S. pension plans in 2009.
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:
Year Regular
Officers
and
MSPP Non
U.S.
2009 $ 225 $17 $ 32
2010 232 14 34
2011 241 21 35
2012 252 22 37
2013 265 5 38
2014-2018 1,552 28 218
Postretirement Health Care and Other Benefit Plans
Certain health care benefits are available to eligible domestic employees meeting certain age and service
requirements upon termination of employment (the “Postretirement Health Care Benefits Plan”). For eligible
employees hired prior to January 1, 2002, the Company offsets a portion of the postretirement medical costs to the
retired participant. As of January 1, 2005, the Postretirement Health Care Benefit Plan has been closed to new
participants. The benefit obligation and plan assets for the Postretirement Health Care Benefit Plan have been
measured as of December 31, 2008.
The assumptions used were as follows:
December 31 2008 2007
Discount rate for obligations 6.75% 6.50%
Investment return assumptions 8.50% 8.50%
Net Postretirement Health Care Benefit Plan expenses were as follows:
Years Ended December 31 2008 2007 2006
Service cost $6 $7 $8
Interest cost 26 23 25
Expected return on plan assets (20) (19) (18)
Amortization of:
Unrecognized net loss 569
Unrecognized prior service cost (2) (2) (2)
Net postretirement health care expense $ 15 $ 15 $ 22
110