United Airlines 2011 Annual Report Download - page 122
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Table of Contents
Each of UAL’s, United’s and Continental’s estimated future benefit payments, net of expected participant contributions, in all of the pension plans and other
postretirement benefit plans as of December 31, 2011 are as follows (in millions):
2012 $ 271 $147 $13
2013 282 150 15
2014 277 156 16
2015 279 163 17
2016 274 170 18
Years 2017—2021 1,361 971 105
2012 $ 12 $131 $13
2013 12 133 15
2014 12 137 16
2015 10 142 17
2016 11 148 18
Years 2017—2021 62 840 105
2012 $259 $16 $ —
2013 270 17 —
2014 265 19 —
2015 269 21 —
2016 263 22 —
Years 2017—2021 1,299 131 —
Depending upon the employee group, employer contributions consist of matching contributions and/or non-elective employer contributions. United’s and
Continental’s employer contribution percentages vary from 2% to 16% and less than 1% to 14.75%, respectively, of eligible earnings depending on the terms
of each plan. The Company’s contributions to its defined contribution plans for the years ended December 31, were as follows (in millions):
2011 $ 325 $230 $95
2010 254 231 23 $74
2009 244 244 93
(a) UAL and United amounts include International Association of Machinists (“IAM”) multi-employer plan contributions of $34 million for each of the years ended December 31, 2011, 2010 and 2009.
In 2006, United began participating in the IAM National Pension Plan (“IAM Plan”) with respect to certain employees. The IAM Plan is a multi-employer
pension plan whereby contributions by the participating company are based on covered hours by the applicable covered employees. The risks of participating
in these multiemployer plans are different from single-employer plans, as the Company can be subject to additional risks that others do not meet their
obligations, which in certain circumstances could revert to United.
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