American Stores Company and Subsidiaries - Page 5

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          I.  The Deductions for Contributions to Collectively Bargained              
               Under applicable Internal Revenue Code provisions, employers           
          may enter into "qualified" deferred compensation arrangements,              
          which provide retirement and other benefits to employees and                
          their beneficiaries through single employer plans, multiple                 
          employer plans, and multiemployer plans.  Plans not established             
          pursuant to collective bargaining agreements are herein referred            
          to as Multiple Employer Plans.  Plans established and maintained            
          pursuant to such agreements are henceforth referred to as                   
          Multiemployer Plans or, alternately, as CBA Plans.  In both                 
          Multiple Employer Plans and Multiemployer Plans, the                        
          contributions of participating employers are pooled and used to             
          provide benefits to all covered employees, former employees, and            
          their beneficiaries.  Section 413(b) contains certain rules                 
          exclusively applicable to CBA Plans, which are the plans involved           
          in the instant case.                                                        
               At all relevant times, petitioner was obligated to                     
          contribute money to 39 CBA Plans.  These plans were defined                 
          benefit pension plans.  By stipulation of the parties, arguments            
          were limited to the 10 plans to which petitioner contributed the            
          largest amounts in TYE 8801 (the Top 10 Plans).  The parties have           
          agreed to apply the Court's decision with respect to the Top 10             
          Plans to petitioner's contributions to the other 29 plans.  The             

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Last modified: May 25, 2011