Health Net 2000 Annual Report Download - page 47

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Notes to Consolidated Financial Statements HEALTH NET 45
The following table sets forth the plans’funded status and amounts recognized in the Company’s financial statements
(amounts in thousands):
Pension Benefits Other Benefits
2000 1999 2000 1999
Change in benefit obligation:
Benefit obligation, beginning of year $ 12,287 $ 15,103 $ 5,506 $ 4,060
Service cost 1,174 1,762 595 603
Interest cost 972 989 388 324
Benefits paid (967) (1,112) (95) (94)
Actuarial loss (gain) 708 (4,455) 52 613
Projected benefit obligation, end of year $ 14,174 $ 12,287 $ 6,446 $ 5,506
Change in fair value of plan assets:
Plan assets, beginning of year $ – $ – $ – $ –
Employer contribution 967 1,112 24 21
Benefits paid (967) (1,112) (24) (21)
Plan assets, end of year $ – $ – $ – $ –
Funded status of plans $(14,174) $(12,287) $(6,446) $(5,506)
Unrecognized prior service cost 4,499 4,969 (204) (211)
Unrecognized (gain) (2,465) (3,338) (1,511) (1,645)
Net amount recognized as accrued benefit liability $(12,140) $(10,656) $(8,161) $(7,362)
The components of net periodic benefit costs for the years ended December 31, 2000, 1999 and 1998 are as follows
(amounts in thousands):
Pension Benefits Other Benefits
2000 1999 1998 2000 1999 1998
Service cost $1,174 $1,762 $1,525 $595 $603 $ 356
Interest cost 972 989 756 388 324 252
Amortization of prior service cost 469 474 308 (6) (6) (8)
Amortization of unrecognized
(gain) loss (165) 103 72 (82) (58) (115)
2,450 3,328 2,661 895 863 485
Cost of subsidiary plan
curtailment ––1,896 ––(13)
Net periodic benefit cost $2,450 $3,328 $4,557 $895 $863 $ 472