Question Details

(solution) PantherTec offers a defined benefit pension plan for its


PantherTec offers a defined benefit pension plan for its employees. The company?s pension formula pays 2% per year of service time of the employee?s final year?s salary, with a maximum benefit of 75%. To illustrate, an employee earning $200,000 and retiring after 20 years would receive an $80,000 annual benefit (2% x 20 years x $200,000).

Accompanying this project is an Excel spreadsheet with two tabs. The first, ?Employee Information,? lists the 200 employees of PantherTec, along with information which may or may not be needed to compute pension obligations. The second tab, ?Pension Plan Asset Performance,? outlines how PantherTec?s plan assets have performed over the last several periods, as well as expected returns on plan assets over that period. As described in the Pension Plan Asset Performance tab, there is a cumulative loss on pension plan assets of approximately

$16.5 million that is unamortized as of 12/31/2014. There are no prior service costs or other accumulated losses on the projected benefit obligation.

Required: Write a project summary addressing each of the following requirements, citing accompanying tables and figures as necessary. Your final deliverable will be submitted electronically via Dropbox on D2L and should include a typed report with responses to each of the following points as well as an Excel file with supporting analysis. Responses should be succinct, but complete.

Analyses:

1. Compute the projected benefit obligation (PBO) as of 12/31/2014 using the ?Employee Information? tab assuming the company?s actuary recommends a 6% discount rate. For simplicity, assume that all retirements occur on December 31 of the retirement year, and partial years worked provide no benefit. In other words, if a 40 year-­?old employee begins working on 7/1/2014 and is expected to retire at 65, then assume that his retirement date is 12/31/2039 and that he will accrue 25 years of service (2015 through 2039). Computations should be performed in Excel.

2. Compute Pension Expense for 2014, separately identifying each component. Prepare the associated journal entry. Note that you will need to compute the PBO as of 2013 to obtain interest and service cost components of pension expense. Make sure to ignore employees hired in 2014 when computing the 2013 PBO. Assume that no actuarial assumptions changed between 2013 and 2014 (i.e., same projected ending salaries, benefit periods, etc.).

3. Describe the funding status for the plan. Is the plan over-­? or under-­?funded? Does 2014 pension expense include any amortization of a gain or loss on pension plan assets?

Critical Thinking:

4. Compare the current and projected salaries as well as the PBO for male vs. female employees. Do you notice any differences? If so, comment on possible reasons for those differences. It may be useful to use a Pivot Table for your analysis.

5. Assume PantherTec is considering investing in an employee health and wellbeing program. This program will involve an onsite fitness center and complementary dietary and fitness consulting services. Discuss how this program could lead to a moral hazard, keeping in mind that managers of companies have both social responsibilities to employees and fiduciary responsibilities to shareholders.

6. Comment on the trend in plan asset returns. Have managers been accurate in their expected rates of return? When pension plan assets consistently deviate from expected returns, there are two possible actions managers may take: Adjust the riskiness of the plan?s investment portfolio, or adjust the expected rate of return. Discuss the ethical dilemma managers face when confronted with those two choices.


I have been given some information regarding project from professor which I wanted to share with you so you can make sure this project is 100% correct.

1. The example given in the instructions is merely meant to illustrate how a final retirement benefit would be calculated. That is NOT how you calculate the PBO. The PBO is based on years of service (not total expected years service), just like we learned in Chapter 17.

2. The 75% percent benefit caps the percent of the salary that employees can accrue via service time. In other words, after 37 years of service, the employee is owed 74% of their forecasted retirement salary. After 38 years of service (and beyond), they get 75%.

3. Related to #2, the easiest way to implement that feature of the plan is with the "MIN()" function. In other words, compute the annual benefit as SALARY x MIN(75%,2% x YRS) where YRS is years of service. This will automatically cap the benefit at 75%.


Employee Info as of:

 

EMPID 12/31/2014

 

Employee Name 252160 Birdie Ahlers 205188 Francesco Alers 252579 Deneen Alonzo 397185 Loyd Alt 156175 Ignacio Arter 118099 Garland Audete 310475 Lynete Back 307248 Marcelino Baldon 431615 Randolph Balser 336022 Daniel Bastarache 448195 Garret Baten 279704 Keenan Baze 176833 Gabriel Bea 355450 Catna Beason 351791 Dong Beaty 163872 Vince Bhat 294706 Jospeh Blanco 162642 Bete Bolanos 334792 Dean Bopp 193413 Kiesha Braithwaite 446198 Hermina Brasch 362755 Arnulfo Brissete 403652 Waylon Britan 355869 Elijah Brownson 411768 Clemente Bunde 170758 Ruben Bussey 248501 Shalon Carlson 172755 Rosalva Carmen 169528 Kristan Chappell 274048 Moon Claw 262273 Ethan Clukey 272818 Berenice Cogan

 

321020 Zane Connelly 404071 Tamela Cordes 331133 Steve Cordray 224616 Brandon Cregan 390299 Argentna Curran 207185 Eliseo Cutshall 438501 Devon Dalpiaz 125404 Matha Dauphin 163061 Jeta Derose 287009 Raymundo Derrow 135098 Shawana Devivo 246504 Andy Dively 197072 Noble Dotson 190186 Tory Dowdell 363566 Elijah Eakle 338019 Julio Edmisten 165869 Natalie Elsen 308478 Dillon Elser 132290 Heath Fava 293895 Jerrod Ferree 186527 Benedict Forck 135517 Amparo Frantz 111632 Jorge Freitag 341678 Lawanna French 177644 Cheryl Frost 234729 Una Galante 286590 Raina Gass 259465 Delphia Gaxiola 362336 Clif Giesen 383413 Karly Goldschmidt 136328 Jasper Gowans 190605 Jefery Grasso 126215 Hosea Guertn 441309 Carol Guillermo 348983 Gia Guillory 424729 Nickole Gunning 348564 Danial Hadley 369641 Todd Hallowell 266351 Joane Halsted 417424 Delbert Hanway Gender DOB F

 

M

 

F

 

M

 

M

 

M

 

F

 

M

 

M

 

M

 

M

 

M

 

M

 

F

 

M

 

M

 

M

 

F

 

M

 

F

 

F

 

M

 

M

 

M

 

M

 

M

 

F

 

F

 

F

 

F

 

M

 

F

 

M

 

F

 

M

 

M

 

F

 

M

 

M

 

F

 

F

 

M

 

F

 

M

 

M

 

M

 

M

 

M

 

F

 

M

 

M

 

M

 

M

 

F

 

M

 

F

 

F

 

F

 

F

 

F

 

M

 

F

 

M

 

M

 

M

 

M

 

F

 

F

 

M

 

M

 

F

 

M 5/26/1985

 

8/13/1969

 

12/20/1949

 

10/8/1949

 

1/29/1993

 

10/31/1978

 

4/12/1961

 

9/11/1955

 

8/25/1959

 

1/31/1950

 

1/8/1972

 

11/28/1950

 

8/4/1954

 

12/15/1966

 

12/2/1992

 

7/23/1953

 

2/11/1953

 

6/13/1976

 

6/1/1954

 

2/14/1989

 

3/25/1990

 

4/29/1964

 

11/20/1963

 

5/11/1983

 

9/24/1992

 

12/25/1950

 

9/15/1956

 

4/6/1967

 

5/2/1973

 

10/8/1977

 

8/7/1949

 

11/16/1963

 

12/10/1981

 

7/18/1962

 

10/1/1992

 

1/11/1970

 

11/7/1961

 

11/1/1952

 

10/12/1952

 

6/2/1951

 

5/27/1979

 

9/18/1986

 

9/5/1962

 

12/25/1962

 

12/29/1992

 

8/7/1989

 

11/5/1980

 

8/22/1951

 

8/22/1952

 

8/10/1989

 

6/8/1976

 

3/3/1959

 

10/6/1977

 

8/9/1982

 

6/22/1975

 

10/3/1991

 

5/24/1981

 

11/26/1968

 

11/22/1972

 

5/11/1961

 

7/19/1956

 

7/3/1987

 

6/20/1988

 

7/26/1961

 

12/2/1982

 

7/19/1958

 

2/6/1984

 

9/18/1951

 

6/4/1966

 

10/31/1991

 

2/20/1951

 

3/25/1992 Date of Employment

 

1-Jul-14

 

2-Oct-93

 

28-Dec-73

 

5-Mar-93

 

1-Aug-12

 

15-Feb-06

 

21-Sep-87

 

21-Mar-83

 

7-Jul-83

 

25-Feb-90

 

5-Dec-95

 

1-Jul-79

 

22-Apr-78

 

5-Dec-97

 

14-Dec-13

 

9-Jul-75

 

1-Jun-76

 

16-Jan-02

 

13-Dec-76

 

2-Jun-14

 

16-Aug-12

 

18-Jan-86

 

18-Apr-85

 

24-Apr-12

 

18-Apr-14

 

21-Jan-72

 

8-Jul-78

 

27-Apr-93

 

14-Feb-06

 

18-Dec-01

 

2-Mar-77

 

5-Oct-85

 

10-May-04

 

2-Jul-86

 

19-Apr-13

 

1-Jan-92

 

12-Nov-86

 

4-Mar-80

 

5-Feb-74

 

18-Jul-87

 

22-Dec-01

 

1-Sep-08

 

8-Nov-85

 

17-Nov-96

 

8-Dec-12

 

12-Aug-11

 

27-May-02

 

16-Jul-92

 

20-Oct-74

 

10-Apr-12

 

5-Oct-12

 

21-Sep-82

 

22-Feb-99

 

4-Nov-12

 

19-Mar-13

 

9-Sep-14

 

17-Jun-04

 

5-Feb-95

 

27-Feb-03

 

7-Mar-87

 

8-Jan-81

 

23-Nov-09

 

5-May-12

 

24-Feb-00

 

14-Jun-08

 

8-Oct-82

 

10-Jan-06

 

19-Oct-73

 

27-Nov-89

 

26-Jul-13

 

20-Jul-87

 

4-Sep-13 Salary as of

 

12/31/2014

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$ 104,038

 

403,962

 

110,392

 

211,617

 

44,823

 

99,491

 

124,183

 

179,814

 

332,220

 

150,283

 

204,384

 

182,242

 

422,322

 

117,948

 

35,780

 

217,807

 

222,813

 

34,934

 

251,497

 

40,364

 

33,718

 

140,852

 

63,512

 

79,599

 

44,833

 

320,081

 

89,018

 

55,024

 

70,169

 

137,241

 

194,707

 

115,340

 

37,020

 

79,254

 

41,257

 

176,720

 

141,803

 

260,734

 

183,718

 

85,543

 

35,093

 

39,590

 

59,969

 

88,673

 

87,640

 

72,069

 

84,687

 

366,325

 

75,757

 

39,375

 

58,948

 

110,385

 

41,932

 

69,599

 

188,274

 

64,185

 

137,770

 

288,253

 

229,758

 

55,644

 

319,396

 

32,062

 

72,902

 

150,091

 

162,753

 

217,926

 

81,283

 

225,335

 

81,763

 

57,078

 

184,498

 

41,673 Anticipated

 

Retirement

 

Age

 

65

 

65

 

69

 

68

 

65

 

60

 

61

 

63

 

61

 

66

 

66

 

67

 

62

 

64

 

66

 

65

 

63

 

61

 

62

 

65

 

65

 

62

 

64

 

60

 

64

 

66

 

66

 

66

 

62

 

63

 

69

 

63

 

65

 

63

 

65

 

65

 

65

 

63

 

66

 

66

 

65

 

63

 

61

 

64

 

66

 

62

 

65

 

66

 

66

 

66

 

66

 

60

 

65

 

66

 

61

 

65

 

65

 

64

 

60

 

64

 

64

 

66

 

66

 

64

 

61

 

65

 

64

 

64

 

63

 

61

 

64

 

60 Forecasted

 

Retirement

 

Salary Anticipated Life

 

Span Health Score

 

7

 

9

 

5

 

10

 

3

 

9

 

5

 

6

 

4

 

10

 

5

 

6

 

4

 

8

 

6

 

9

 

9

 

10

 

10

 

9

 

10

 

10

 

3

 

8

 

4

 

6

 

7

 

5

 

4

 

10

 

7

 

6

 

4

 

6

 

7

 

7

 

7

 

3

 

6

 

6

 

8

 

9

 

5

 

3

 

9

 

5

 

8

 

8

 

4

 

8

 

7

 

10

 

8

 

9

 

6

 

5

 

8

 

8

 

9

 

8

 

8

 

10

 

9

 

6

 

6

 

7

 

8

 

4

 

10

 

9

 

8

 

7 85

 

81

 

81

 

82

 

77

 

83

 

81

 

78

 

76

 

82

 

79

 

78

 

76

 

84

 

80

 

81

 

81

 

88

 

82

 

87

 

88

 

82

 

75

 

82

 

78

 

78

 

83

 

81

 

82

 

88

 

79

 

82

 

78

 

82

 

81

 

81

 

83

 

75

 

78

 

82

 

86

 

83

 

81

 

75

 

83

 

79

 

82

 

80

 

80

 

82

 

81

 

82

 

82

 

87

 

80

 

83

 

86

 

84

 

87

 

84

 

80

 

88

 

83

 

78

 

80

 

79

 

86

 

80

 

82

 

83

 

84

 

81 346,529.63

 

542,178.90

 

124,246.81

 

231,239.61

 

224,565.51

 

232,244.72

 

157,311.64

 

202,382.24

 

396,688.05

 

159,435.23

 

433,369.51

 

199,140.75

 

448,041.41

 

204,271.88

 

191,364.56

 

245,143.70

 

236,382.31

 

98,946.18

 

266,813.17

 

191,667.85

 

173,287.66

 

215,821.27

 

108,269.51

 

217,580.26

 

215,153.38

 

339,573.93

 

112,765.82

 

111,484.29

 

160,535.08

 

325,972.61

 

219,144.44

 

179,446.63

 

140,329.56

 

124,705.82

 

207,061.27

 

349,175.98

 

217,177.77

 

268,556.02

 

206,776.23

 

93,475.39

 

130,179.24

 

156,400.81

 

78,246.02

 

141,426.50

 

381,766.08

 

260,142.30

 

256,724.30

 

400,293.22

 

85,265.55

 

192,296.02

 

164,868.76

 

127,966.47

 

125,937.38

 

235,138.26

 

390,752.45

 

282,123.66

 

399,768.74

 

505,731.98

 

406,147.27

 

92,023.70

 

381,375.53

 

146,541.22

 

297,809.08

 

222,761.05

 

413,538.11

 

284,344.00

 

267,056.09

 

232,095.24

 

142,384.09

 

220,502.49

 

190,033.31

 

173,135.45 427537 Ezequiel Hartline 289817 Dexter Helmuth 225035 Sena Hemmings 439312 Marqueta Heng 280123 Allen Hesson 169947 Rolando Hilden 322250 Elisha Hippler 138325 Elnora Hofert 227843 Joi Holland 121326 Eugenie Hooser 404882 Ayesha Horak 148870 Jae Houge 314134 Corey Hulme 217730 Elvin Hunger 413765 Yolande Huntzinger 238807 Claud Innes 335211 Dean Jasmin 314553 Pierre Jordan 111213 Craig Koepp 198302 Sal Kovacs 397996 Gayle Krell 176414 Coleman Krueger 324247 Buck Kush 203958 Dalton Lamere 389880 Jacki Lank 273237 Francisco Laplaca 393107 Hilton Laurie 149289 Augustus Lawton 425540 Alden Learned 382994 Britaney Ledet 265932 Nathanial Leer 349794 Tomi Lefevre 372449 Nicky Lefew 238388 Royce Leib 432426 Jaime Leicht 358677 Timothy Leland 391110 Eura Lessman 260276 Arthur Logan 317361 Don Lozier 218960 Mitch Mace 282931 Laurice Macintosh 124985 Edgar Manry 434423 Kum Marable 145211 Asa Maring 241615 Ken Marsch 150100 Elli Martneau 293476 Vito Mathieson 280934 Art Maybee 418654 Elliot Mccasland 315364 Quincy Mccaw 444968 Rosy Mcdougal 296703 Kirk Mickelsen 342097 Helga Mifin 184530 Clint Mikula 417843 Curt Milliner 212074 Marcel Millis 204377 Maira Millsaps 406879 Lamont Minter 255387 Rogelio Mitschke 183719 Deangelo Mleczko 420651 Freddy Monica 370452 Micah Monroe 410957 Rex Morace 342908 Bret Moran 376527 Hobert Morocco 218149 Jeremiah Muir 197491 Maynard Nair 329136 Margorie Neufeld 410538 Lucinda Nicholes 344905 Della Oaks 399993 Temeka Pangburn 133101 Jerrold Paulson 155756 Gwenn Pechacek 179641 Kareem Penny 356680 Chantelle Perry 191416 Leonard Prieto 386221 Ricardo Pulido M

 

M

 

F

 

F

 

M

 

M

 

M

 

F

 

F

 

F

 

F

 

M

 

M

 

M

 

F

 

M

 

M

 

M

 

M

 

M

 

M

 

M

 

M

 

M

 

F

 

M

 

M

 

M

 

M

 

F

 

M

 

F

 

M

 

M

 

M

 

M

 

F

 

M

 

M

 

M

 

F

 

M

 

F

 

M

 

M

 

F

 

M

 

M

 

M

 

M

 

F

 

M

 

F

 

M

 

M

 

M

 

F

 

M

 

M

 

M

 

M

 

M

 

M

 

M

 

M

 

M

 

M

 

F

 

F

 

F

 

F

 

M

 

F

 

M

 

F

 

M

 

M 2/1/1962

 

11/28/1955

 

8/19/1957

 

4/16/1987

 

6/21/1987

 

11/13/1990

 

1/25/1991

 

5/19/1986

 

6/13/1985

 

12/12/1950

 

2/19/1954

 

9/12/1961

 

6/20/1973

 

4/15/1986

 

11/23/1969

 

7/8/1948

 

6/16/1968

 

11/7/1975

 

9/22/1987

 

5/17/1972

 

10/29/1975

 

12/3/1973

 

6/15/1960

 

5/6/1982

 

8/18/1986

 

9/17/1968

 

6/21/1970

 

9/29/1971

 

5/17/1962

 

7/8/1959

 

12/23/1976

 

6/2/1986

 

8/16/1976

 

8/3/1951

 

3/15/1954

 

5/3/1985

 

9/22/1956

 

12/8/1990

 

3/9/1959

 

11/16/1970

 

6/24/1984

 

10/6/1977

 

6/14/1978

 

9/22/1974

 

4/13/1956

 

10/18/1983

 

2/10/1974

 

5/26/1990

 

11/6/1972

 

12/8/1955

 

6/21/1990

 

6/11/1989

 

9/28/1973

 

12/10/1975

 

10/5/1963

 

3/14/1992

 

12/6/1975

 

3/12/1960

 

8/1/1974

 

4/4/1966

 

12/27/1966

 

6/19/1990

 

11/13/1960

 

8/22/1961

 

11/22/1964

 

10/30/1956

 

4/1/1978

 

5/23/1984

 

1/15/1991

 

7/21/1962

 

3/17/1949

 

11/10/1968

 

7/18/1948

 

4/28/1967

 

7/20/1990

 

8/13/1952

 

2/17/1989 25-Oct-02

 

8-Sep-77

 

5-Oct-86

 

28-Aug-09

 

1-Aug-09

 

4-Feb-14

 

12-Oct-12

 

21-Apr-08

 

7-Jul-12

 

21-Jun-72

 

24-Sep-79

 

12-Aug-89

 

17-Dec-95

 

10-Nov-08

 

26-Oct-92

 

18-Jan-78

 

5-Jul-00

 

26-Feb-98

 

14-Jan-09

 

25-Mar-94

 

16-Sep-00

 

23-Jul-95

 

7-May-02

 

23-Apr-05

 

26-Jul-12

 

19-Oct-00

 

12-Nov-93

 

8-Nov-94

 

8-Jan-86

 

26-Nov-86

 

21-Mar-03

 

9-Jan-12

 

11-Aug-99

 

10-Feb-73

 

17-Sep-82

 

12-May-07

 

12-Jan-78

 

17-Apr-14

 

12-Sep-81

 

6-Jun-92

 

7-Dec-06

 

22-Nov-13

 

2-Jun-01

 

17-Jul-08

 

23-Oct-00

 

28-May-06

 

15-Aug-97

 

12-Sep-12

 

5-Aug-95

 

5-Dec-77

 

13-Oct-13

 

15-Jun-13

 

23-Mar-13

 

11-Apr-97

 

10-Aug-85

 

18-Apr-12

 

8-Jul-98

 

18-Oct-83

 

15-Apr-13

 

6-Mar-12

 

15-Jun-90

 

16-Dec-13

 

4-Aug-82

 

5-May-83

 

28-Apr-06

 

15-Apr-78

 

23-May-03

 

20-Dec-14

 

14-Sep-14

 

10-Jan-85

 

23-May-74

 

15-Jul-90

 

24-Oct-73

 

4-Apr-90

 

14-Sep-12

 

8-Nov-75

 

20-Jan-11 $

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

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$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$ 209,204

 

221,861

 

204,780

 

35,264

 

44,023

 

94,734

 

35,973

 

88,070

 

34,520

 

165,185

 

71,129

 

54,950

 

73,591

 

71,456

 

239,847

 

131,266

 

89,277

 

185,560

 

41,614

 

44,478

 

39,274

 

91,599

 

266,347

 

125,139

 

64,801

 

148,651

 

135,219

 

107,906

 

179,997

 

164,706

 

44,830

 

89,600

 

113,337

 

195,799

 

212,495

 

39,127

 

280,836

 

83,037

 

84,730

 

58,619

 

97,066

 

167,859

 

36,388

 

194,049

 

237,374

 

56,057

 

263,517

 

77,393

 

53,727

 

129,854

 

72,644

 

127,882

 

156,737

 

124,629

 

205,571

 

89,616

 

314,572

 

98,042

 

42,981

 

97,689

 

194,138

 

43,093

 

121,707

 

184,404

 

149,494

 

378,435

 

145,427

 

113,393

 

102,747

 

161,255

 

83,176

 

175,211

 

226,477

 

98,955

 

102,831

 

274,468

 

97,337 65

 

63

 

61

 

64

 

60

 

61

 

66

 

62

 

64

 

66

 

63

 

60

 

60

 

62

 

62

 

68

 

62

 

66

 

65

 

66

 

64

 

66

 

61

 

64

 

64

 

64

 

61

 

64

 

66

 

63

 

61

 

61

 

65

 

65

 

64

 

65

 

66

 

61

 

63

 

63

 

63

 

62

 

66

 

65

 

62

 

63

 

64

 

60

 

63

 

66

 

63

 

66

 

63

 

63

 

66

 

60

 

63

 

62

 

65

 

64

 

62

 

62

 

64

 

65

 

64

 

63

 

62

 

66

 

65

 

65

 

67

 

66

 

69

 

64

 

63

 

65

 

62 7

 

3

 

9

 

8

 

7

 

5

 

4

 

10

 

3

 

8

 

4

 

6

 

6

 

8

 

10

 

5

 

10

 

3

 

4

 

10

 

8

 

5

 

10

 

9

 

3

 

6

 

5

 

8

 

8

 

9

 

6

 

10

 

3

 

7

 

9

 

9

 

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10

 

6

 

9

 

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6

 

6

 

5

 

3

 

7

 

10

 

5

 

7

 

8

 

5

 

4

 

9

 

3

 

10

 

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5

 

3

 

7

 

10

 

8

 

3

 

4

 

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8

 

9

 

10

 

5

 

4

 

9

 

4

 

7

 

9

 

4

 

6

 

4 79

 

75

 

85

 

86

 

81

 

79

 

78

 

88

 

81

 

84

 

80

 

78

 

80

 

82

 

86

 

77

 

82

 

77

 

78

 

84

 

82

 

79

 

82

 

83

 

81

 

78

 

79

 

82

 

80

 

85

 

80

 

88

 

77

 

79

 

81

 

83

 

80

 

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78

 

83

 

83

 

80

 

84

 

79

 

75

 

85

 

84

 

79

 

81

 

80

 

83

 

78

 

87

 

77

 

82

 

83

 

83

 

75

 

81

 

82

 

80

 

77

 

76

 

80

 

82

 

80

 

83

 

88

 

83

 

80

 

85

 

76

 

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81

 

82

 

78

 

78 322,223.13

 

249,706.51

 

230,481.96

 

150,271.33

 

161,763.75

 

327,802.46

 

188,226.36

 

285,600.16

 

142,133.24

 

175,244.66

 

77,724.86

 

67,581.57

 

144,042.26

 

240,211.02

 

411,430.68

 

139,260.10

 

158,263.38

 

442,182.39

 

172,954.04

 

120,414.62

 

112,231.03

 

221,787.96

 

327,573.21

 

367,243.28

 

232,809.88

 

268,068.38

 

238,496.40

 

230,736.95

 

287,261.61

 

208,644.66

 

118,475.88

 

282,648.60

 

281,754.23

 

207,723.16

 

239,164.99

 

158,400.94

 

355,754.14

 

292,884.27

 

107,333.43

 

117,788.77

 

302,451.20

 

381,459.47

 

133,324.00

 

436,295.51

 

267,166.53

 

189,351.00

 

545,022.47

 

269,306.45

 

129,948.05

 

159,704.04

 

275,064.87

 

489,670.59

 

330,324.80

 

283,345.10

 

335,272.92

 

320,549.80

 

532,501.89

 

124,196.67

 

119,992.67

 

171,762.17

 

308,651.14

 

177,501.64

 

178,564.03

 

277,916.01

 

241,123.09

 

438,709.88

 

343,626.60

 

373,644.13

 

415,575.50

 

251,807.88

 

88,241.29

 

346,450.56

 

247,478.01

 

178,557.54

 

370,669.44

 

299,918.59

 

335,573.01 424310 Ward Puryear 225846 Coleman Rankin 231502 Denese Rentro 253390 Merlin Ribeiro 114440 Emerson Rickel 112443 Asa Rodd 141984 Carmelita Rosborough 214071 Danyelle Russi 303589 Sarita Salmons 211263 Dalton Salomone 183300 Sang Sancho 156986 Senaida Santana 379335 Sonia Schimmel 276045 Hugo Schlenker 143214 Jordan Schoenfeld 131871 Laurena Selke 300362 Truman Sessions 301592 Geraldo Sharman 158983 Rosella Slaubaugh 119329 Timmy Song 396766 Kirby Soria 232732 Toney Springer 376108 Russ Stall 269159 Tania Stephens 231921 Dede Sugg 118518 Mack Swayne 328325 Skye Tadlock 445387 Antony Tarr 384224 Eboni Tellez 287820 Camille Teston 300781 Thersa Tiedemann 142403 Jennifer Tindle 369222 Bryant Tiner 239618 Emile Toledo 220957 Scot Urbano 431196 Denis Valade 307667 Alberto Valazquez 365563 Dwain Vanderwal 245693 Tyron Vella 210844 Crissy Vigil 451854 Huey Wedding 245274 Amada Weisman 259046 Clyde Wemple 438082 Thomas Winders 321439 Erwin Windley 377338 Regine Witzel 267162 Christan Wolfgram 327906 Adrienne Wooten 152097 Pierre Yadon 128212 Carlos Ying 200299 Emmit Yingst M

 

M

 

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M

 

M

 

M

 

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F

 

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M

 

F

 

M

 

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M

 

M

 

M

 

F

 

M

 

F

 

M

 

M

 

M 10/28/1965

 

8/25/1958

 

1/19/1967

 

10/1/1990

 

7/24/1964

 

5/21/1988

 

8/18/1975

 

4/18/1977

 

10/20/1980

 

4/1/1954

 

9/21/1986

 

5/8/1959

 

11/29/1963

 

10/16/1967

 

2/13/1993

 

2/5/1952

 

9/4/1985

 

10/5/1967

 

2/8/1950

 

1/6/1977

 

1/4/1985

 

3/2/1960

 

3/2/1950

 

2/15/1987

 

3/26/1966

 

6/23/1989

 

7/26/1948

 

2/26/1949

 

4/14/1962

 

5/6/1977

 

5/15/1967

 

4/27/1976

 

10/12/1978

 

11/26/1987

 

6/7/1988

 

4/25/1951

 

2/9/1991

 

2/12/1982

 

7/9/1954

 

12/22/1992

 

8/10/1953

 

12/6/1981

 

9/12/1967

 

1/31/1983

 

9/17/1967

 

5/31/1976

 

6/26/1950

 

3/5/1980

 

11/7/1959

 

5/9/1980

 

10/30/1955 28-Feb-03

 

9-Nov-80

 

3-Dec-90

 

12-Dec-12

 

2-Aug-94

 

6-Apr-13

 

20-Dec-00

 

10-May-04

 

25-Aug-02

 

13-Nov-76

 

13-Nov-08

 

24-May-81

 

15-Sep-90

 

15-Jun-89

 

23-Nov-12

 

17-Jun-83

 

27-Jan-09

 

11-Jul-90

 

4-Oct-74

 

5-Dec-99

 

2-Oct-12

 

19-Sep-92

 

9-Apr-78

 

18-Aug-10

 

3-Jul-89

 

28-Sep-11

 

9-Sep-71

 

17-Nov-78

 

3-Sep-86

 

8-Sep-00

 

6-Feb-96

 

22-Nov-98

 

5-Feb-10

 

21-Sep-09

 

24-Feb-12

 

28-Feb-74

 

10-Mar-13

 

5-Jun-13

 

28-Mar-79

 

3-Feb-14

 

10-Jan-79

 

18-May-04

 

6-Apr-93

 

23-Jun-14

 

16-Jun-12

 

21-Mar-12

 

7-Apr-75

 

14-Feb-03

 

13-Oct-93

 

3-Aug-04

 

13-Mar-81 $

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

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$

 

$

 

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$

 

$

 

$

 

$

 

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$

 

$

 

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$

 

$

 

$

 

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$

 

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$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$ 75,531

 

113,895

 

35,563

 

122,027

 

84,840

 

124,536

 

157,265

 

63,625

 

31,791

 

246,671

 

98,484

 

292,946

 

123,618

 

191,761

 

42,279

 

353,421

 

148,091

 

42,146

 

313,042

 

132,948

 

37,834

 

76,617

 

185,613

 

33,952

 

81,670

 

111,217

 

96,267

 

145,589

 

158,517

 

142,842

 

48,484

 

97,828

 

174,664

 

41,104

 

35,264

 

341,274

 

41,003

 

39,412

 

108,632

 

45,894

 

437,553

 

33,458

 

240,786

 

41,891

 

77,572

 

92,071

 

197,180

 

57,698

 

255,451

 

161,725

 

137,345 61

 

62

 

63

 

66

 

61

 

61

 

65

 

64

 

65

 

63

 

65

 

65

 

61

 

66

 

62

 

63

 

64

 

65

 

68

 

65

 

64

 

61

 

66

 

66

 

62

 

65

 

70

 

67

 

63

 

62

 

60

 

61

 

60

 

61

 

63

 

65

 

61

 

66

 

63

 

64

 

62

 

65

 

63

 

60

 

64

 

63

 

68

 

65

 

63

 

65

 

63 10

 

10

 

4

 

4

 

3

 

10

 

9

 

9

 

8

 

9

 

7

 

5

 

10

 

5

 

10

 

7

 

4

 

7

 

5

 

9

 

5

 

7

 

7

 

6

 

6

 

4

 

5

 

6

 

10

 

4

 

7

 

4

 

10

 

10

 

6

 

5

 

10

 

6

 

5

 

5

 

10

 

3

 

10

 

10

 

4

 

4

 

7

 

9

 

8

 

10

 

5 82

 

82

 

80

 

78

 

75

 

84

 

87

 

87

 

86

 

81

 

81

 

81

 

86

 

77

 

84

 

83

 

78

 

79

 

81

 

83

 

79

 

79

 

79

 

84

 

82

 

78

 

81

 

78

 

86

 

82

 

83

 

82

 

84

 

84

 

80

 

77

 

84

 

80

 

77

 

83

 

82

 

81

 

82

 

84

 

76

 

82

 

79

 

87

 

80

 

84

 

77 122,689.15

 

135,996.59

 

72,068.82

 

482,298.34

 

132,438.40

 

395,427.17

 

369,157.06

 

171,330.49

 

124,479.00

 

269,544.06

 

338,997.06

 

408,695.17

 

181,132.63

 

351,254.07

 

202,053.17

 

364,023.82

 

461,707.70

 

86,750.74

 

352,331.44

 

325,315.93

 

148,358.90

 

94,229.25

 

196,916.83

 

152,527.22

 

138,533.75

 

422,794.06

 

108,349.56

 

154,455.37

 

234,425.26

 

329,080.18

 

86,200.59

 

223,071.31

 

385,055.95

 

157,292.24

 

150,271.03

 

362,057.59

 

171,075.35

 

152,669.85

 

118,705.12

 

218,824.35

 

450,679.59

 

131,158.30

 

401,390.84

 

128,718.89

 

143,214.70

 

222,776.73

 

221,927.83

 

189,248.79

 

323,597.68

 

449,325.49

 

154,583.01 The company invests plan assets in a diversified equites fund with JP Morgan Chase. The fund performance for the past ten years is listed below. Assume there were no accumulated

 

gains or losses prior to 2005. All contributons are made at the end of the calendar year, so returns generated by the fund are based on the beginning balance of each period.

 

Year-End

 

12/31/2005

 

12/31/2006

 

12/31/2007

 

12/31/2008

 

12/31/2009

 

12/31/2010

 

12/31/2011

 

12/31/2012

 

12/31/2013

 

12/31/2014 Beginning Balance

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$ 55,520,201.33

 

58,722,741.26

 

68,579,651.63

 

73,487,277.57

 

47,059,290.25

 

51,636,716.90

 

59,819,206.49

 

61,601,450.30

 

72,048,867.20

 

88,720,194.98 Return on Plan Assets

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$ 2,681,625.72

 

9,166,619.91

 

3,758,164.91

 

(26,859,599.95)

 

4,235,336.12

 

7,652,561.45

 

1,256,203.34

 

9,788,470.45

 

15,958,824.08

 

11,959,482.28 Contributions

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$ 1,577,554.49

 

1,642,611.51

 

2,052,786.44

 

1,655,355.73

 

967,857.14

 

1,134,055.71

 

1,454,796.83

 

1,347,085.47

 

1,572,771.25

 

2,133,423.47 Disbursements

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$ (1,056,640.28)

 

(952,321.05)

 

(903,325.40)

 

(1,223,743.10)

 

(625,766.61)

 

(604,127.57)

 

(928,756.35)

 

(688,139.02)

 

(860,267.56)

 

(1,127,474.30) Ending Balance

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$ 58,722,741.26

 

68,579,651.63

 

73,487,277.57

 

47,059,290.25

 

51,636,716.90

 

59,819,206.49

 

61,601,450.30

 

72,048,867.20

 

88,720,194.98

 

101,685,626.43 Expected Return

 

Percentage Gain (Loss) 9.94%

 

10.15%

 

7.99%

 

11.80%

 

11.40%

 

10.02%

 

11.15%

 

10.72%

 

10.32%

 

9.20% $ (2,318,111.86)

 

$ 3,895,797.41

 

$

 

(574,835.38)

 

$ (35,099,498.65)

 

$

 

(787,332.44)

 

$ 3,005,972.03

 

$ (4,887,597.71)

 

$ 3,844,588.23

 

$ 9,238,671.07

 

$ 4,803,173.51 Accumulated performance gain (loss) $ (18,879,173.79)

 

Loss amortization to date $ 2,412,795.05

 

Accumulated gain (loss) currently in AOCI $ (16,466,378.74)

 


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