SunTrust 2010 Annual Report Download - page 163

SUNTRUST BANKS, INC.
Notes to Consolidated Financial Statements (Continued)
The asset allocation for Other Postretirement Benefit Plans and the target allocation, by asset category, are as follows:
Target
Allocation
Percentage of Plan Assets
as of December 31
Asset Category 2011 2010 2009
Equity securities 35-50 % 51 % 48 %
Debt securities 50-65 48 51
Cash equivalents 11
Total 100 % 100 %
Funded Status
The funded status of the plans, as of December 31, was as follows:
Pension Benefits Other Postretirement Benefits
(Dollars in millions) 2010 2009 2010 2009
Fair value of plan assets $2,522 $2,334 $165 $161
Benefit obligations (2,261) (2,008) (189) (179)
Funded status $261 $326 ($24) ($18)
At December 31, 2010, the total outstanding unrecognized net loss to be recognized in future years for all pension and
postretirement benefits was $0.8 billion, compared to $0.7 billion as of December 31, 2009. The key sources of the
cumulative net losses are attributable to lower discount rates for the past several years and lower return on assets in 2008. As
discussed previously, SunTrust reviews its assumptions annually to ensure they represent the best estimates for the future and
will, therefore, minimize future gains and losses.
As of December 31, amounts recognized in AOCI are as follows:
Pension Benefits
Other Postretirement
Benefits
(Dollars in millions) 2010 2009 2010 2009
Net actuarial loss $770 $715 $34 $34
Prior service credit (105) (57) --
Total AOCI, pre-tax $665 $658 $34 $34
Pension benefits with a projected benefit obligation, in excess of plan assets as of December 31, were as follows:
(Dollars in millions) 2010 2009
Projected benefit obligation $105 $96
Accumulated benefit obligation 101 91
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