Rite Aid 2013 Annual Report Download - page 106

RITE AID CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
For the Years Ended March 2, 2013, March 3, 2012 and February 26, 2011
(In thousands, except per share amounts)
16. Retirement Plans (Continued)
Following are the future benefit payments expected to be paid for the Defined Benefit Pension
Plan and the nonqualified executive retirement plan during the years indicated:
Nonqualified
Defined Benefit Executive
Fiscal Year Pension Plan Retirement Plan
2014 ..................................... $ 6,764 $ 1,654
2015 ..................................... 6,943 1,597
2016 ..................................... 7,128 1,539
2017 ..................................... 7,351 1,344
2018 ..................................... 7,565 1,150
2019 - 2023 ............................... 41,146 4,377
Total ................................... $76,897 $11,661
Other Plans
The Company participates in various multi-employer union pension plans that are not sponsored
by the Company. Total expenses recognized for the multi-employer plans were $19,787 in fiscal 2013,
$14,594 in fiscal 2012 and $19,053 in fiscal 2011.
17. Multiemployer Plans that Provide Pension Benefits
The Company contributes to a number of multiemployer defined benefit pension plans under the
terms of collective-bargaining agreements that cover certain of its union-represented employees. The
risks of participating in these multiemployer plans are different from single-employer plans. Assets
contributed to the multiemployer plan by one employer may be used to provide benefits to employees
of other participating employers. If a participating employer stops contributing to the plan, the
unfunded obligations of the plan may be borne by the remaining participating employers. Additionally,
if the Company chooses to stop participating in some of its multiemployer plans, the Company may be
required to pay those plans an amount based on the underfunded status of the plan, referred to as a
withdrawal liability.
The Company’s participation in these plans for the annual period ended March 2, 2013 is outlined in
the table below. The ‘‘EIN/Pension Plan Number’’ column provides the Employer Identification Number
(EIN) and the three-digit plan number, if applicable. The most recent Pension Protection Act (PPA) zone
status available for fiscal 2013 and fiscal 2012 is for the plan year-ends as indicated below. The zone status
is based on information that the Company received from the plan and is certified by the plan’s actuary.
Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the yellow
zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded. The
‘‘FIP/RP Status Pending/Implemented’’ column indicates plans for which a financial improvement plan
(FIP) or a rehabilitation plan (RP) is either pending or has been implemented. In addition to regular plan
contributions, the Company may be subject to a surcharge if the plan is in the red zone. The ‘‘Surcharge
Imposed’’ column indicates whether a surcharge has been imposed on contributions to the plan. The last
two columns list the expiration date(s) of the collective-bargaining agreement(s) to which the plans are
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