Albertsons 2012 Annual Report Download - page 77

Estimated Future Benefit Payments
The estimated future benefit payments to be paid from the Company’s defined benefit pension plans and other
postretirement benefit plans, which reflect expected future service, are as follows:
Fiscal Year Pension Benefits
Other Postretirement
Benefits
2013 $ 106 $ 7
2014 116 7
2015 122 7
2016 130 8
2017 139 8
Years 2018-2022 840 42
Defined Contribution Plans
The Company sponsors several defined contribution and profit sharing plans pursuant to Section 401(k) of the
Internal Revenue Code. Employees may contribute a portion of their eligible compensation to the plans on a
pre-tax basis. The Company matches a portion of employee contributions in cash into the employee’s investment
options. The total amount contributed by the Company to the plans is determined by plan provisions or at the
discretion of the Company. Total employer contribution expenses for these plans were $81, $94 and $95 for
fiscal 2012, 2011 and 2010, respectively. Plan assets also include 5 and 4 shares of the Company’s common
stock as of February 25, 2012 and February 26, 2011, respectively.
Post-Employment Benefits
The Company recognizes an obligation for benefits provided to former or inactive employees. The Company is
self-insured for certain of its employees’ short-term and long-term disability plans, the primary benefits paid to
inactive employees prior to retirement. As of February 25, 2012, the obligation for post-employment benefits was
$44, with $22 included in Accrued vacation, compensation and benefits, and $22 included in Other long-term
liabilities.
Multiemployer Pension Plans
The Company contributes to various multiemployer pension plans under collective bargaining agreements,
primarily defined benefit pension plans. These multiemployer plans generally provide retirement benefits to
participants based on their service to contributing employers. The benefits are paid from assets held in trust for
that purpose. Plan trustees typically are responsible for determining the level of benefits to be provided to
participants as well as the investment of the assets and plan administration. Trustees are appointed in equal
number by employers and unions parties to the collective bargaining agreement.
Expense is recognized in connection with these plans as contributions are funded, in accordance with accounting
standards. The Company contributed $130, $135 and $143 to these plans for fiscal years 2012, 2011 and 2010,
respectively. The risks of participating in these multiemployer plans are different from the risks associated with
single-employer plans in the following respects:
a. Assets contributed to the multiemployer plan by one employer may be used to provide benefits to
employees of other participating employers.
b. If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be
borne by the remaining participating employers.
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