First Data 2007 Annual Report Download - page 206

Chase Paymentech
NOTES TO COMBINED FINANCIAL STATEMENTS – CONTINUED
For the years ended December 31, 2007 and 2006 and
the year ended December 31, 2005 (unaudited)
The Pension Plan's and SERP's accumulated benefit obligations were $23.8 million and $709 thousand, respectively, at December 31, 2007, and $21.0 million
and $587 thousand, respectively, at December 31, 2006.
A summary of the components of net periodic pension expense and changes recognized in other comprehensive income, pre-tax, for the years ended
December 31, 2007, 2006, and 2005 is as follows (in thousands):
Pension Plan
2007 2006 2005
Service cost $ 4,238 $ 3,690 $ 2,817
Interest cost 1,218 1,027 821
Expected return on plan assets (1,699) (1,351) (1,064)
Amortization of net actuarial loss 212 261 201
Amortization of prior service cost 5 2 (1)
Net periodic benefit cost 3,974 3,629 2,774
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial loss 451 — —
Amortization of net actuarial loss (212) — —
Amortization of prior service cost (5) — —
Total recognized in other comprehensive income 234 — —
Total recognized in net periodic benefit cost and other comprehensive income $ 4,208 $ 3,629 $ 2,774
SERP
2007 2006 2005
Service cost $ 181 $ 137 $ 56
Interest cost 38 31 24
Amortization of net actuarial loss 11 8 —
Amortization of prior service credit (3) (3) (3)
Net periodic benefit cost 227 173 77
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial loss 24 — —
Amortization of net actuarial loss (11) — —
Amortization of prior service credit 3 — —
Total recognized in other comprehensive income 16 — —
Total recognized in net periodic benefit cost and other comprehensive income $ 243 $ 173 $ 77
Weighted-average assumptions used to determine the benefit obligations of the Pension Plan and SERP at December 31, 2007 and 2006 were:
Pension Plan
2007 2006
Discount rate 6.25% 5.75%
Expected rate of increase in compensation levels 5.00% 5.00%
Expected long-term rate of return on assets 8.50% 8.50%
SERP
2007 2006
Discount rate 6.25% 5.75%
Expected rate of increase in compensation levels 5.00% 5.00%
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