- 31 -
L. Benefits paid less employee
contributions --- 3.6 4.1 ---
M. Interest for one-half year --- 0.1 0.1 ---
N. Amortized accrued liability (yearend)6 8.6 15.5 25.5 --–
O. Nondeductible contribution from prior
years7 --- 22.1 15.3 16.2
P. Actuarial value of assets
a. VEBA --- 30.7 30.2 39.9
b. 401(h) --- 1.1 1.2 7.6
c. Total (beginning of year) --- 31.9 31.3 47.5
d. Net after nondeductible
contributions8 --- 9.7 16.1 31.3
e. Interest to yearend --- 0.5 0.6 1.1
f. Total (yearend)9 --- 10.2 16.7 32.4
Q. Actual contribution 30.7 2.2 14.0 12.2
R. Deductible contribution10 8.6 9.0 13.0 9.3
S. Nondeductible contribution
carryforward11 22.1 15.3 16.2 19.2
1 N of prior year
2 C.c - F
3 G/E
4 D + F + H
5 I + J
6 K - L - M
7 S of prior year
8 P.c - O
9 P.d + P.e
10 Smaller of (K - P) and (O + Q)
11 O + Q - R
Mr. Daskais also calculated the contribution limit by applying
his variation of the entry age normal cost method (amortizing the
accrued liability over the remaining lives of the active employees)
as above but substituting investment rates that, in his opinion,
were reasonable. Under these computations, he determined that the
maximum contributions (dollars in millions; discrepancies
attributable to rounding) for 1991-94 were as follows:
Page: Previous 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 NextLast modified: May 25, 2011