|
Net periodic postretirement benefit cost is determined using assumptions as of the beginning of each fiscal year.
Weighted average assumptions for the fiscal year ended November 3, 2006 are as follows:
|
2006 |
2005 |
|
|
|
Discount rate |
6.00% |
6.00% |
Medical trend rate next year |
10.0% |
11.0% |
| Ultimate trend rate |
5.00% |
5.00% |
| Year ultimate trend rate is achieved |
2011 |
2011 |
Effect of a 1% increase in health care cost trend rate on:
|
2006 |
2005 |
|
|
|
Interest cost plus service cost |
$10 |
$10 |
Accumulated postretirement benefit obligation |
$120 |
$121 |
Effect of a 1% decrease in health care cost trend rate on:
|
2006 |
2005 |
|
|
|
Interest cost plus service cost |
$(9) |
$(8) |
Accumulated postretirement benefit obligation |
$(113) |
$(101) |
The benefit obligation and funded status of this plan as of the fiscal year ended November 3, 2006 is as follows:
|
2006 |
2005 |
|
|
|
|
| Change in accumulated postretirement benefit obligation: |
|
|
| |
Benefit Obligations - beginning of year |
$1,143 |
$1,164 |
| |
Service Cost |
14 |
14 |
| |
Interest Cost |
66 |
63 |
| |
Actuarial (Gain) Loss |
(48) |
(61) |
| |
Benefits Paid |
(16) |
(37) |
| |
Plan Amendments |
0 |
0 |
|
|
|
|
| |
Benefit Obligations - end of year |
1,159 |
1,143 |
|
|
|
|
| Funded Status of the plans |
1,159 |
1,143 |
| Unrecognized prior service costs |
(372) |
(447) |
| Unrecognized net actuarial loss |
(198) |
(257) |
| Unrecognized net transition asset |
— |
— |
|
|
|
|
| Accrued postretirement benefit cost |
$589 |
$439 |
|
|
|
|
Expected payments for the postretirement benefits are as follows:
|
Postretirement
Benefits
|
|
|
Fiscal 2007 |
$79 |
Fiscal 2008 |
$81 |
| Fiscal 2009 |
$83 |
| Fiscal 2010 |
$84 |
| Fiscal 2011-2015 |
$402 |
|
