SunTrust 2006 Annual Report Download - page 126

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SUNTRUST BANKS, INC.
Notes to Consolidated Financial Statements (Continued)
Upon adoption of SFAS 158, amounts recognized in accumulated other comprehensive income, on a
pre-tax basis, as of December 31, 2006 are as follows:
(Dollars in thousands)
Retirement
Benefits
Supplemental
Retirement
Benefits
Other
Postretirement
Benefits
Net actuarial loss $449,561 $30,041 $90,821
Prior service cost 2,317 14,862 -
Transition obligation - - 13,929
Net amount recognized $451,878 $44,903 $104,750
Pension plans with a projected benefit obligation, in excess of plan assets at December 31 were as
follows:
Supplemental Retirement
Benefits
(Dollars in thousands) 2006 2005
Projected benefit obligation $122,837 $122,698
Accumulated benefit obligation 108,619 106,791
Expected Cash Flows
Information about the expected cash flows for the Retirement Benefits, Supplemental Retirement
Benefits, and Other Postretirement Benefit plans is as follows:
(Dollars in thousands)
Retirement
Benefits1
Supplemental
Retirement
Benefits2
Other Postretirement
Benefits (excluding
Medicare Subsidy)3
Value to Company
of Expected
Medicare Subsidy
Employer Contributions
2007 (expected) to plan trusts $- $- $- ($1,011)
2007 (expected) to plan participants - 7,149 - -
Expected Benefit Payments
2007 77,172 7,149 18,493 (1,011)
2008 78,112 13,587 18,883 (1,058)
2009 81,111 14,030 19,332 (1,095)
2010 84,346 15,526 19,665 (1,118)
2011 87,209 10,887 19,812 (1,122)
2012 – 2016 490,099 41,449 90,768 (5,314)
1At this time, SunTrust anticipates contributions to the Retirement Plan will be permitted (but not required) during 2007 based on the funded status of the Plan and contribution
limitations under the Employee Retirement Income Security Act of 1974 (ERISA).
2The expected benefit payments for the Supplemental Retirement Plan will be paid directly from SunTrust corporate assets.
3The 2007 expected contribution for the Other Postretirement Benefits Plans represents the expected benefit payments under the medical plans only. Note that expected benefits
under Other Postretirement Benefits Plans are shown net of participant contributions.
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