SunTrust 2011 Annual Report Download - page 169
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Please find page 169 of the 2011 SunTrust annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Notes to Consolidated Financial Statements (Continued)
153
The following tables set forth by level, within the fair value hierarchy, plan assets related to Other Postretirement Benefits at fair
value as of December 31, 2011 and 2010:
(Dollars in millions)
Mutual funds:
Large cap fund
Investment grade tax-exempt bond
International fund
Common and collective funds:
SunTrust Reserve Fund
SunTrust Equity Fund
SunTrust Georgia Tax-Free Fund
SunTrust National Tax-Free Fund
SunTrust Aggregate Fixed Income Fund
SunTrust Short-Term Bond Fund
Assets Measured
at Fair Value as
of December 31,
2011
$37
25
6
1
37
26
17
7
5
$161
Fair Value
Measurements as of
December 31, 2011 1
Quoted Prices In
Active Markets
for Identical
Assets (Level 1)
$37
25
6
—
—
—
—
—
—
$68
Significant
Other
Observable
Inputs
(Level 2)
$—
—
—
1
37
26
17
7
5
$93
Significant
Unobservable
Inputs
(Level 3)
$—
—
—
—
—
—
—
—
—
$—
1 Schedule does not include accrued income.
(Dollars in millions)
Mutual funds:
Large cap fund
Investment grade tax-exempt bond
International fund
Common and collective funds:
SunTrust Reserve Fund
SunTrust Equity Fund
SunTrust Georgia Tax-Free Fund
SunTrust National Tax-Free Fund
SunTrust Aggregate Fixed Income Fund
SunTrust Short-Term Bond Fund
Assets Measured
at Fair Value as
of December 31,
2010
$39
24
7
2
38
26
17
7
5
$165
Fair Value
Measurements as of
December 31, 20101
Quoted Prices In
Active Markets
for Identical
Assets (Level 1)
$39
24
7
—
—
—
—
—
—
$70
Significant Other
Observable
Inputs
(Level 2)
$—
—
—
2
38
26
17
7
5
$95
Significant
Unobservable
Inputs
(Level 3)
$—
—
—
—
—
—
—
—
—
$—
1 Schedule does not include accrued income.
The SunTrust Benefits Finance Committee, which includes several members of senior management, establishes investment policies
and strategies and formally monitors the performance of the funds on a quarterly basis. The Company’s investment strategy with
respect to pension assets is to invest the assets in accordance with ERISA and related fiduciary standards. The long-term primary
investment objectives for the Pension Plans are to provide for a reasonable amount of long-term growth of capital (both principal
and income) without undue exposure to risk in any single asset class or investment category and to enable the plans to provide
their specific benefits to participants thereof. The objectives are accomplished utilizing a strategy of equities, fixed income, and
cash equivalents in a mix that is conducive to participation in a rising market while allowing for protection in a declining market.
The portfolio is viewed as long-term in its entirety, avoiding decisions based solely on short-term concerns and individual
investments. The objective in the allocation of assets is diversification of investments among asset classes that are not similarly
affected by economic, political, or social developments. The diversification does not necessarily depend upon the number of
industries or companies in a portfolio or their particular location, but rather upon the broad nature of such investments and of the