PNC Bank 2002 Annual Report Download - page 96

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94
A reconciliation of the changes in the benefit obligation for qualified and nonqualified pension plans and post-retirement
benefit plans as well as the change in plan assets for the qualified pension plan is as follows:
Qualified
Pension
Nonqualified
Pension
Post-retirement
Benefits
December 31 – in millions 2002 2001 2002 2001 2002 2001
Benefit obligation at beginning of year $854 $798 $66 $58 $211 $203
Service cost 33 30 1222
Interest cost 61 61 5515 14
A
ctuarial loss 38 35 2638 12
Participant contributions 54
Benefits paid (68) (70) (4) (5) (26) (24)
Benefit obli
g
ation at end of
y
ear $918 $854 $70 $66 $245 $211
Fair value of plan assets at beginning of year $928 $952
Actual loss on plan assets (104) (89)
Employer contribution 210 135 $5 $5
Benefits paid (68) (70) (5) (5)
Fair value of
p
lan assets at end of
y
ear $966 $928
Funded status $48 $73 $
(
70
)
$
(
65
)
$
(
245
)
$
(
211
)
Unrecognized net actuarial loss 485 266 25 23 85 50
Unrecognized prior service cost (credit) (5) (6) 23(48) (54)
Net amount reco
g
nized on the balance sheet $528 $333 $
(
43
)
$
(
39
)
$
(
208
)
$
(
215
)
Prepaid pension cost $528 $333 $(43) $(39)
Additional minimum liability (23) (21)
Intangible asset 23
Accumulated other comprehensive loss 21 18
Net amount recognized on the balance sheet $528 $333 $(43) $(39)
Plan assets primarily consist of listed common stocks, U.S.
government and agency securities and various mutual funds
managed by BlackRock from which BlackRock and PFPC
receive compensation for providing investment advisory,
custodial and transfer agency services. Plan assets are
managed by BlackRock and do not include common or
preferred stock of the Corporation.