SunTrust 2005 Annual Report Download - page 93
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SUNTRUST ANNUAL REPORT 91
FUNDED STATUS
The funded status of the plans, reconciled to the Consolidated Balance Sheets, is as follows:
Supplemental Other
Retirement Benefits Retirement Benefits Post Retirement Benefits
(Dollars in thousands)
Fair value of plan assets ,, ,, — — , ,
Benefit obligations (,,) (,,) (,) (,) (,) (,)
Funded status , , (,) (,) (,) (,)
Amounts not yet recognized:
Unrecognized net loss , , , , , ,
Unrecognized prior service cost , , , , — —
Unrecognized net transition obligation — — — — , ,
Net amount recognized , , (,) (,) , ,
At December , , the total outstanding unrecognized net loss to be
recognized in future years for all retirement and post retirement benefits
was . million. The key sources of the cumulative net losses are attrib-
utable to () sustained decreases in the discount rate for the past several
years, () recent compensation increases which have exceeded expectations
and resulted in the increase in the salary increase assumption at December
, , and () investment losses in through have not been
fully offset by recent investment gains. As discussed previously, SunTrust
reviews its assumptions annually to ensure they represent best estimates
for the future and will, therefore, minimize future gains and losses.
Supplemental Other
Retirement Benefits Retirement Benefits Post Retirement Benefits
(Dollars in thousands)
Prepaid benefit cost , , — — , ,
Accrued benefit cost — — (,) (,) — —
Additional minimum liability — — (,) (,) — —
Intangible asset — — , , — —
Accumulated other comprehensive
income, before taxes — — , , — —
Net amount recognized , , (,) (,) , ,
Pension plans with an accumulated benefit obligation, in excess of plan assets at December were as follows:
Supplemental
Retirement Benefits
(Dollars in thousands)
Projected benefit obligation , ,
Accumulated benefit obligation , ,
Target Percentage of Plan
Allocation Assets at December
Asset Category
Equity securities –% % %
Debt securities –
Other
Total % %
A contribution of . million was made on December , and invested in a short-term fund. Equity securities do not include SunTrust common stock
for the Other Post Retirement Benefit Plans.