Rogers 2009 Annual Report Download - page 109

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ROGERS COMMUNICATIONS INC. 2009 ANNUAL REPORT 113
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
2009 2008
Plan assets, at fair value $ 518 $ 556
Accrued benefit obligations 526 622
Deficiency of plan assets over accrued benefit obligations (8) (66)
Employer contributions after measurement date 14 12
Unrecognized transitional asset (1) (9)
Unamortized past service costs 910
Unamortized net actuarial loss 120 115
Deferred pension asset $ 134 $ 62
2009 2008
Plan assets, beginning of year $ 556 $ 606
Actual return (loss) on plan assets 25 (83)
Contributions by employees 21 21
Contributions by employer 120 38
Benefits paid (32) (26)
Net transfer out on settlement (d) (172) –
Plan assets, end of year $ 518 $ 556
2009 2008
Accrued benefit obligations, beginning of year $ 622 $ 689
Service cost 21 28
Interest cost 43 40
Benefits paid (32) (26)
Contributions by employees 21 21
Actuarial loss (gain) 23 (130)
Obligation being settled (d) (172) –
Accrued benefit obligations, end of year $ 526 $ 622
The Company maintains both contributory and non-contributory
defined benefit pension plans that cover most of its employees.
The plans provide pensions based on years of service, years of
contributions and earnings. The Company does not provide any
non-pension post-retirement benefits.
Actuarial estimates are based on projections of employees’
compensation levels at the time of retirement. Maximum retirement
benefits are primarily based upon career average earnings, subject
to certain adjustments. The most recent actuarial valuations were
completed as at January 1, 2009, for all of the plans except one
which was completed January 1, 2008. The next actuarial valuation
for funding purposes must be of a date no later than January 1, 2010
for certain of the plans and January 1, 2011 for one of the plans.
The estimated present value of accrued plan benefits and the
estimated market value of the net assets available to provide
for these benefits measured at September 30 for the year ended
December 31 are as follows:
Pension fund assets consist primarily of fixed income and equity
securities, valued at fair value. The following information is
provided on pension fund assets measured at September 30 for the
year ended December 31:
Accrued benefit obligations are outlined below measured at
September 30 for the year ended December 31:
17. PENSIONS: