Fannie Mae 2011 Annual Report Download - page 323

FANNIE MAE
(In conservatorship)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following table displays the status of our pension and other postretirement plans as of December 31, 2011
and 2010.
As of December 31,
2011 2010
Pension
Plans
Other Post-
Retirement
Plan
Pension
Plans
Other Post-
Retirement
Plan
(Dollars in millions)
Change in Benefit Obligation
Benefit obligation at beginning of year ............................. $1,257 $ 180 $1,055 $ 166
Service cost .................................................. 39 6 37 6
Interest cost .................................................. 72 9 66 9
Plan participants’ contributions ................................... — 2 — 2
Net actuarial loss (gain) ......................................... 131 (1) 130 4
Curtailment gain .............................................. (14) (5) — —
Benefits paid ................................................. (33) (8) (31) (7)
Benefit obligation at end of year .................................. 1,452 183 1,257 180
Change in Plan Assets
Fair value of plan assets at beginning of year ........................ 942 — 799 —
Actual return on plan assets ...................................... 2 — 125 —
Employer contributions ......................................... 131 6 49 6
Plan participants’ contributions ................................... — 2 — 2
Benefits paid ................................................. (33) (8) (31) (8)
Fair value of plan assets at end of year ............................. 1,042 — 942 —
Funded status at end of year(1) .................................... $ (410) $(183) $ (315) $(180)
(1) Included in other liabilities of our Consolidated Balance Sheets as of December 31, 2011 and 2010.
Actuarial gains or losses reflect annual changes in the amount of either the benefit obligation or the fair value of
plan assets that result from the difference between actual experience and projected amounts or from changes in
assumptions.
The following table displays the amount of the projected benefit obligation, accumulated benefit obligation and
fair value of plan assets for our pension plans as of December 31, 2011 and 2010.
As of December 31,
2011 2010
(Dollars in millions)
Projected benefit obligation ................................................ $1,452 $1,257
Accumulated benefit obligation ............................................. 1,326 1,111
Fair value of plan assets ................................................... 1,042 942
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