US Airways 2008 Annual Report Download - page 111

Table of Contents
US Airways Group, Inc.
Notes to Consolidated Financial Statements — (Continued)
8. Employee pension and benefit plans
Substantially all of the Company's employees meeting certain service and other requirements are eligible to participate in various
pension, medical, dental, life insurance, disability and survivorship plans.
(a) Defined Benefit and Other Postretirement Benefit Plans
The following table sets forth changes in the fair value of plan assets, benefit obligations and the funded status of the plans and the
amounts recognized in the Company's consolidated balance sheets as of December 31, 2008 and 2007 (in millions).
Defined Benefit Pension Plans(1) Other Postretirement Benefits
Year Ended Year Ended Year Ended Year Ended
December 31, December 31, December 31, December 31,
2008 2007 2008 2007
Fair value of plan assets at beginning of period $ 46 $ 45 $ — $ —
Actual return on plan assets (13) 3 — —
Employer contributions 2 1 15 24
Plan participants' contributions — — 23 29
Gross benefits paid (2) (3) (38) (53)
Fair value of plan assets at end of period 33 46 — —
Benefit obligation at beginning of period 50 59 163 220
Service cost 1 2 2 3
Interest cost 3 3 9 12
Plan participants' contributions — — 23 29
Actuarial (gain) loss 8 (7) (33) (48)
Curtailments(2) — (5) — —
Gross benefits paid (3) (2) (38) (53)
SFAS No. 158 adoption — — (4) —
Benefit obligation at end of period 59 50 122 163
Funded status of the plan (26) (4) (122) (163)
Contributions for October to December — — — 6
Liability recognized in consolidated balance sheet $ (26) $ (4) $ (122) $ (157)
Net actuarial loss (gain) recognized in accumulated other comprehensive
income $ 15 $ (9) $ (80) $ (49)
(1) The Company maintains two defined benefit pension plans sponsored by Piedmont. Piedmont closed one plan to new participants in
2002 and froze the accrued benefits for the other plan for all participants in 2003. The aggregate accumulated benefit obligations,
projected benefit obligations and plan assets were $54 million, $59 million and $33 million, as of December 31, 2008 and
$46 million, $50 million and $46 million, as of December 31, 2007, respectively.
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