Fannie Mae 2008 Annual Report Download - page 364

The following table displays pre-tax amounts in AOCI as of December 31, 2008 that are expected to be
recognized as components of net periodic benefit cost in 2009.
Qualified Non-Qualified
Other Post-
Retirement
Plan
Pension Plans
As of December 31, 2008
(Dollars in millions)
Net actuarial (gain) loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $37 $ (1) $ 1
Net prior service cost (credit) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 1 (5)
Net transition obligation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 2
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $38 $— $(2)
The following table displays the status of our pension and other postretirement plans as of December 31, 2008
and 2007.
Qualified
Non-
Qualified
Other Post-
Retirement
Plan Qualified
Non-
Qualified
Other Post-
Retirement
Plan
Pension Plans Pension Plans
2008 2007
As of December 31,
(Dollars in millions)
Change in Benefit Obligation
Benefit obligation at beginning of year. . . . $ 744 $ 148 $ 134 $770 $ 161 $ 174
Service cost . . . . . . . . . . . . . . . . . . . . . . 38 8 5 58 11 14
Interest cost . . . . . . . . . . . . . . . . . . . . . . 48 10 9 48 10 11
Plan participants’ contributions . . . . . . . . . — — 2 — — 1
Plan amendments. . . . . . . . . . . . . . . . . . . — — — — — (66)
Net actuarial (gain) loss . . . . . . . . . . . . . . (10) 1 5 (76) (21) (3)
Curtailment (gain) loss . . . . . . . . . . . . . . . — (3) — (44) (8) 2
Special termination benefits . . . . . . . . . . . — — 3 — — 6
Benefits paid . . . . . . . . . . . . . . . . . . . . . . (19) (6) (7) (12) (5) (5)
Benefit obligation at end of year . . . . . . . . $ 801 $ 158 $ 151 $744 $ 148 $ 134
Change in Plan Assets
Fair value of plan assets at beginning of
year . . . . . . . . . . . . . . . . . . . . . . . . . . $ 788 $ — $ — $769 $ — $ —
Actual return on plan assets . . . . . . . . . . . (270) — — 31 — —
Employer contributions . . . . . . . . . . . . . . 80 6 6 — 5 4
Plan participants’ contributions . . . . . . . . . — — 2 — — 1
Benefits paid . . . . . . . . . . . . . . . . . . . . . . (19) (6) (8) (12) (5) (5)
Fair value of plan assets at end of year. . . . $ 579 $ — $ — $788 $ — $ —
Amounts Recognized in our Consolidated
Balance Sheets
Deferred tax assets
(1)
. . . . . . . . . . . . . . . . $ — $ — $ — $ (11) $ 1 $ (6)
Prepaid benefit cost . . . . . . . . . . . . . . . . . — — — 44 — —
Accrued benefit cost . . . . . . . . . . . . . . . . (222) (158) (151) — (148) (134)
Accumulated other comprehensive
(income) loss
(1)
. . . . . . . . . . . . . . . . . . 285 1 (27) (21) 1 (28)
Net amount recognized. . . . . . . . . . . . . . . $ 63 $(157) $(178) $ 12 $(146) $(168)
F-86
FANNIE MAE
(In conservatorship)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)