Pension And Other Employee Benefits | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Pension And Other Employee Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pension And Other Employee Benefits |
The Company has certain defined benefit pension plans covering the employees of its AEG German subsidiary (the "Pension Benefits"). As of September 24, 2011 and September 25, 2010, the Company's pension liability is $8.1 million and $9.1 million, respectively, which is primarily recorded as a component of long-term liabilities in the Consolidated Balance Sheets. Under German law, there are no rules governing investment or statutory supervision of the pension plan. As such, there is no minimum funding requirement imposed on employers. Pension benefits are safeguarded by the Pension Guaranty Fund, a form of compulsory reinsurance that guarantees an employee will receive vested pension benefits in the event of insolvency.
The tables below provide a reconciliation of benefit obligations, plan assets, funded status, and related actuarial assumptions of the Company's German Pension Benefits.
The tables below outline the components of the net periodic benefit cost and related actuarial assumptions of the Company's German Pension Benefits plan.
The projected benefit obligation for the German Pension Benefits plans with projected benefit obligations in excess of plan assets was $8.1 million and $9.1 million at September 24, 2011 and September 25, 2010, respectively, and the accumulated benefit obligation for the German Pension Benefits plans was $8.1 million and $9.1 million at September 24, 2011 and September 25, 2010, respectively.
The Company is also obligated to pay long-term service award benefits. The projected benefit obligation for long-term service awards was $0.6 million and $0.7 million at September 24, 2011 and September 25, 2010, respectively.
The table below reflects the total Pension Benefits expected to be paid as of September 24, 2011 from the plans.
The Company also maintains additional contractual pension benefits for its top German executive officers in the form of a defined contribution plan. These contributions were insignificant in fiscal 2011, 2010 and 2009. |