FairPoint Communications 2010 Annual Report Download - page 109
Download and view the complete annual report
Please find page 109 of the 2010 FairPoint Communications 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.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99 -
100 -
101 -
102 -
103 -
104 -
105 -
106 -
107 -
108 -
109 -
110 -
111 -
112 -
113 -
114 -
115 -
116 -
117 -
118 -
119 -
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
 |
 |
Table of Contents
The impact of the Medicare Drug Act of 2003 subsidy on the post-retirement health benefits at December 31, 2010 is as follows:
Change in projected benefit obligation
$ (20,794)
Change in each component of net periodic cost:
Service cost $ (866)
Interest cost (947)
Net amortization and deferral of prior service cost 16
Net amortization and deferral of actuarial loss (349)
Total change in net periodic cost $ (2,146)
Estimated future employer contributions, benefit payments and Medicare prescription drug subsidies expected to offset the future post-retirement healthcare
benefit payments are as follows as of December 31, 2010:
Expected employer contributions for 2011 $ 6,821 $ 2,515
Expected benefit payments:
2011 $ 9,815 $ 2,515
2012 3,444 3,356
2013 12,667 4,371
2014 13,909 5,320
2015 4,802 6,641
2016-2020 43,077 59,159
Expected subsidy:
2011 $ 12
2012 21
2013 33
2014 52
2015 82
2016-2020 1,321
The Company and its subsidiaries sponsor four voluntary 401(k) savings plans that, in the aggregate, cover substantially all eligible Legacy FairPoint
employees, and two voluntary 401(k) savings plans that cover in the aggregate substantially all eligible Northern New England operations employees
(collectively, “the 401(k) Plans”). Each 401(k) Plan year, the Company contributes to the 401(k) Plans an amount of matching contributions determined by the
Company at its discretion. For the 401 (k) Plan years ended December 31, 2010 and 2009, the Company matched 100% of each employee’s contribution up to
5% of compensation. For the 401(k) Plan year ended December 31, 2008, the Company generally matched in the Legacy FairPoint 401(k) plans 100% of each
employee’s contribution up to 3% of compensation and 50% of additional contributions up to 6% or as otherwise required by relevant collective
108