Pioneer 2009 Annual Report Download - page 39

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Annual Report 2009 37
The reserve for retirement benefits for the years ended March 31, 2009 and 2008 was analyzed as follows:
Domestic
Millions of Yen
Thousands of
U.S. Dollars
2009 2008 2009
Projected benefit obligation ¥(93,818) ¥(95,608) $(957,327)
Fair value of plan assets 50,348 67,916 513,755
Unfunded retirement obligation (43,470) (27,692) (443,572)
Unrecognized prior service gain (758) (1,053) (7,735)
Unrecognized actuarial loss 40,776 24,784 416,082
Unrecognized transitional obligation 1,758 2,401 17,939
Net retirement obligations (1,694) (1,560) (17,286)
Prepaid pension cost 5,068 4,363 51,714
Accrued pension and severance costs ¥ (6,762) ¥ (5,923) $ (69,000)
Net periodic pension costs related to the retirement benefits for the years ended March 31, 2009 and 2008 were as follows:
Millions of Yen
Thousands of
U.S. Dollars
2009 2008 2009
Service cost ¥ 4,082 ¥ 4,136 $ 41,653
Interest cost 2,366 2,287 24,143
Expected return on plan assets (2,703) (3,336) (27,582)
Amortization of prior service gain (103) (113) (1,051)
Recognized actuarial loss 2,172 1,292 22,163
Amortization of transitional obligation 317 345 3,235
Net periodic pension costs ¥ 6,131 ¥ 4,611 $ 62,561
2009 2008
Discount rate 2.50% 2.50%
Expected rate of return on plan assets 4.00% 4.50%
Method of attributing the projected benefits to periods of service Straight-line Straight-line
Amortization period of prior service gain or cost 10 to 15 years 10 to 15 years
Recognition period of actuarial gain or loss 10 to 18 years 10 to 18 years
Amortization period of transitional obligation 15 years 15 years