Strong investment returns helped increase the Plan’s total assets by $924 million in 2010. At the same time, growth in the value of members’ earned pensions together with changes in the Plan’s actuarial assumptions increased total liabilities by $1,117 million.
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* Includes rate stabilization funds.
The Plan had a funding deficit of $586 million at the end of 2010 and rate stabilization funds of $843 million, which were set aside by the sponsors from past funding gains.
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Strong investment returns helped increase the Plan’s total assets by $924 million in 2010. At the same time, growth in the value of members’ earned pensions together with changes in the Plan’s actuarial assumptions increased total liabilities by $1,117 million. As a result, the current funding deficit increased slightly to $586 million at year-end.
* Includes rate stabilization funds.
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The Plan had a funding deficit of $586 million at the end of 2010 and rate stabilization funds of $843 million, which were set aside by the sponsors from past funding gains. In 2009 the sponsors approved the use of the stabilization reserves to pay down the 2008 funding deficit of $606 million over a maximum of 15 years. The stabilization reserves are sufficient to address the 2010 funding deficit, at the sponsors' discretion.
- Minimize
Strong investment returns helped increase the Plan’s total assets by $924 million in 2010. At the same time, growth in the value of members’ earned pensions together with changes in the Plan’s actuarial assumptions increased total liabilities by $1,117 million. As a result, the current funding deficit increased slightly to $586 million at year-end.
* Includes rate stabilization funds.
The Plan had a funding deficit of $586 million at the end of 2010 and rate stabilization funds of $843 million, which were set aside by the sponsors from past funding gains. In 2009 the sponsors approved the use of the stabilization reserves to pay down the 2008 funding deficit of $606 million over a maximum of 15 years. The stabilization reserves are sufficient to address the 2010 funding deficit, at the sponsors' discretion.
